2020 Individual Tax Reminders

Individuals can begin filing tax returns with the IRS later this week and many are in the process of gathering tax documents. As you look back over 2020, below are a few reminders. Charitable contributions. In the past couple of years most individuals have been claiming the standard deduction. For 2020, if you use the […]

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Update to Repayment of Deferred Payroll Taxes

Last week, the IRS issued Notice 2021-11, which modifies Notice 2020-65 and updates guidance on the timing of the deferred payroll tax repayments. Originally, under a Presidential Memorandum, an employee’s Social Security tax could be deferred from September 1 through December 31, 2020, and then withheld and repaid by April 30, 2021. The Consolidated Appropriations […]

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