Businesses impacted by the massive storms that hit Texas recently will receive some temporary disaster tax relief. IRS just announced that businesses will now have until June 15, 2021 to file returns and pay any taxes that were originally due…
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Your company may use virtual cards for vendor payments – and now, some providers are looking to bring them into the business travel world. As most finance pros know, virtual cards, or “ghosts cards,” each have a unique 16-digit number…
Once year-end responsibilities die down, your A/P department can finally focus on its agenda for the rest of the year. Two months in, 2021 is already unlike any other. Companies are still operating in the midst of a pandemic. And…
IRS Notice 2021-15 spells out new extensions for flexible spending accounts (FSA) and dependent care assistance programs. So your company can continue to be a bit more flexible with its cafeteria plan. And it comes courtesy of the Taxpayer Certainty…
There's no rest in Finance! For some companies, the next few months bring important spring unclaimed property reporting deadlines. This time of year, things are already busy for your finance team as they handle other critical responsibilities, like year-end filing…
Payroll may be a big expense at your company, but dealing with wage and hour violations is even more costly. Despite all the disruption related to COVID-19, the Dept. of Labor (DOL) has been aggressive with enforcement action in 2020.…
Good news for your finance team: The Service’s new online platform for filing 1099s is coming along nicely. As you know, the Taxpayer First Act calls for the development of a new online portal – similar to the SSA’s Business…
If your company makes a cash charitable contribution for disaster relief, you can take a larger deduction. But only if you act fast. Your company can deduct up to 100% of your taxable income for cash contributions for relief efforts…
It’s important for your Payroll pros to treat exempt workers differently than hourly employees in most circumstances. But there are exceptions your people need to know about, especially if your company has some common policies in place for absences and…
Pause and think about all the people at your company who could be targeted for a phishing scam – finance staffers, purchasers, executives. Now consider: Are you fully confident all those people know exactly what phishing is? Is it possible…
Put EEO-1 reporting back on Payroll’s 2021 to-do list. Last year the reporting was postponed due to COVID-19. But now this regulatory requirement has returned. And the deadlines differ depending on your industry. Here's what you need to know to…
If the chaos of the pandemic and year-end caused your finance team to put the idea of an IRS audit on the backburner, it's time to bring that focus front and center again. IRS is planning to increase the number…
