IRS

Claiming the Employee Retention Credit in the First and Second Calendar Quarters 2021

IRS issued guidance for employers claiming the employee retention credit under the Coronavirus Aid, Relief, and Economic Security Act modified by the Taxpayer Certainty and Disaster Tax Relief Act of 2020. Notice 2021-23 explains the changes for the first and second calendar quarters of 2021, including: ...

16 April, 2021

IRS Extends Additional Tax Deadlines to May 17

Following the extension of the filing and payment deadline for individuals to May 17, 2021, the IRS announced other tax deadline extensions to the same date. Here’s what’s affected: Contributions to IRAs and health savings accounts People now automatically have until May 17, 2021, to make 2020 contributions to...

09 April, 2021

IRS Offers More Details on Relief Bill

The latest relief bill—the American Rescue Plan Act—is the size of a long novel, so it will take some time to get the full scope. The IRS has started to issue guidance, which provides help in understanding key provisions, but does not contradict what has...

30 March, 2021

Many States Follow Suit With Fed Tax Delay

The IRS has delayed individual tax filing for 2021 until May 17. Although that doesn't affect individual states, many are choosing to offer the same relief the IRS has. Is your state included? Unfortunately, there is no one official place taxpayers can go for a...

22 March, 2021

Victims Of Texas Winter Storms Get IRS Deadline Extensions and Other Tax Relief

WASHINGTON — Victims of February's winter storms in Texas will have until June 15, 2021, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced. Following the recent disaster declaration issued by the Federal Emergency Management Agency (FEMA), the IRS...

05 March, 2021

New IRS Form Available For Self-Employed Individuals To Claim COVID-19 Sick and Family Leave Tax Credits Under FFCRA

WASHINGTON – The Internal Revenue Service recently announced that a new form is available for eligible self-employed individuals to claim sick and family leave tax credits under the Families First Coronavirus Response Act (FFCRA). Eligible self-employed individuals will determine their qualified sick and family leave equivalent tax credits...

22 February, 2021

Upcoming Upgrade of Asure Evolution Classic Platform

To Our Esteemed Payroll Clients, We are pleased to announce the upcoming upgrade of our Asure Payroll and Tax- Classic (formerly Evolution Classic) platform to 64-bit. This upgrade offers significantly improved performance and stability. This first release concerns servers only. At this time, you do not need...

20 January, 2021

IRS Takes Non-Employee Compensation Out of 1099-MISC: New Form 1099-NEC

The 1099-NEC is used strictly for reporting independent contractor payments of $600 or more in the course of your trade or business. You will still be required to use the 1099-MISC for such items as royalties, rent, and healthcare payments. What’s old is new again -...

10 November, 2020

Taxpayers can get last minute filing tips on IRS.gov

The July deadline for filing a 2019 tax return is near, but IRS tax help is available 24 hours a day on IRS.gov. Whether filing a tax return, requesting an extension or making a payment, the IRS website can help taxpayers answer most questions and...

09 July, 2020

IRS Expands CARES Act Tax Breaks On Retirement Plan Distributions, Loans

The IRS expanded the number of taxpayers who qualify to tap into their retirement plans using the generous provisions of the CARES Act. The IRS also answered questions about details of distributions and loans under the CARES Act that have been asked by employers, employees,...

30 June, 2020

IRS