Resources for Accountants

Engage with Clients to Ensure Accurate Data for Timely 1099 Filings

Engage with Clients to Ensure Accurate Data for Timely 1099 Filings

September 9, 2020

As an accountant or bookkeeper, you rely on the information your clients provide to prepare 1099-NEC forms. If this information isn’t complete or accurate, there may be complications or IRS penalties. Send an engagement letter to your clients so they know what to expect from your firm, including the details needed for the prompt filing of their forms.

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Accounting-and-Tax-Considerations-for-Using-Cryptocurrency

Accounting and Tax Considerations for Using Cryptocurrency

October 15, 2019

If your business sells products or services, and you’re accepting (or considering receiving) cryptocurrency as payment, you need to be aware of some tax implications that affect how you report your earnings. The Internal Revenue Service has started cracking down on businesses and individuals who don’t accurately report their virtual currency transactions and warning investors that they may owe capital gains taxes on cryptocurrency income.

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Attention: New Taxpayer First Act to Reduce the Electronic Filing Threshold for Information Returns

Attention: New Taxpayer First Act to Reduce the Electronic Filing Threshold for Information Returns

August 15, 2019

On July 1, 2019, President Trump signed the Taxpayer First Act of 2019. Among the wide-sweeping changes proposed by the law, the Taxpayer First Act aims to modernize the IRS, expand and strengthen taxpayer rights and services, and reduce identity theft through enhanced cybersecurity.

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Accurate, Timely Tax Filings Are Possible with TIN Matching

Accurate, Timely Tax Filings Are Possible with TIN Matching

May 16, 2019

It’s called a TIN – and it’s an essential number when filing W-2s, 1099s and ACA forms. A TIN, or Taxpayer Identification Number, is simply an individual’s Social Security number (SSN), or the Employer Identification Number (EIN), or EIN, for a business entity.

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