February 2022
Accel Now Offers E-Signature for Most Tax Forms
A much requested service is now available to our clients: E-Signature via DocuSign! IRS rules require us to use "knowledge-based authentication" for e-signatures, so here is the process: We will notify you that your [...]
January 2022
1099-Misc and 1099-NEC Reporting Rules in a Nutshell
Note: Beginning with the 2020 tax year, Form 1099-NEC ("nonemployee compensation") has replaced Form 1099-Misc for payments to subcontractors. Form 1099-Misc remains in use for payments to attorneys and landlords. Businesses that have a [...]
November 2021
Employee or Contractor?
If you hire someone for a long-term, full-time project or a series of projects that are likely to last for an extended period, you must pay special attention to the difference between independent contractors [...]
October 2021
Tax-Free Employee Reimbursements for Covid-19 Costs
Here is a tax-planning opportunity for employers: offer your employees a reimbursement of Covid-related costs. The reimbursement will be fully deductible by you and tax-free to the employee. IRC Section 139 allows employers to [...]
August 2021
Continued IRS Refund Delays
Update 8/20/21: In addition to the refund processing delays described below, the IRS is also experiencing delays in processing payments that has led to clients receiving erroneous balance due statements. It seems that IRS [...]
May 2021
Child Tax Credit Expansion Begins July 15
Congress expanded the child tax credit earlier this year, and the IRS will on July 15 make its first batch of monthly payments to about 39 million families with children. Tens of millions of [...]