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What You Should Know About the New Form 1099-NEC for Tax Year 2020

December 28, 2020 By PWB CPAs

Form 1099-NEC

By Alan Shaw, EA As if this year didn’t give business owners enough surprises, in September the IRS rolled out one more: Form 1099-NEC. This new form changes the way organizations will report income and expenses for tax year 2020. Here’s what you should know about it. Use Form 1099-NEC instead of Form 1099-MISC to report payments to independent contractors and vendors. The IRS requires all businesses to report payments made in the course … [Read more...]

Filed Under: Alan Shaw, Business Tax, Tax Planning and Preparation

Could the Employee Retention Credit Benefit Your Business?

July 21, 2020 By PWB CPAs

employee retention credit

By Alan Shaw, EA Over the past couple months, we’ve heard much about the business relief provisions included in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act). One such provision, however, has largely escaped the limelight: the employee retention credit. … [Read more...]

Filed Under: Alan Shaw, COVID-19 Updates, Tax Law, Tax Planning and Preparation

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Recent Blog Posts

  • Deadlines and Guidance and Changes – Oh, My! March 19, 2021
  • PPP, ERC & SVO: To Apply or Not to Apply? That is the Question! February 1, 2021
  • SBA Opening Second Round of PPP Loans This Week January 12, 2021
  • What You Should Know About the New Form 1099-NEC for Tax Year 2020 December 28, 2020

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