What is the Employee Retention Credit? As a result of the coronavirus pandemic the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) contained a business relief provision known as the Employee Retention Credit (ERC). The Employee Retention Credit is a refundable tax credit against certain employment taxes on qualified wages an eligible employer pays to employees after March 12, … [Read more...]
Your Complete Guide to the IRS May 17, 2021 Tax Deadline
This year the IRS moved the deadline for filing the 2020 federal income tax returns from April 15 to May 17, 2021. This change comes after lawmakers, tax professionals, and others put intense pressure on the agency to "help taxpayers navigate the unusual circumstances related to the pandemic" by giving them more time to file their 2020 federal income tax returns. The IRS issued Notice 2021-21 with … [Read more...]
Key Tax Deadlines for 2021
Filing taxes during a pandemic may seem daunting, but advance planning and tips from Ten Key can help ease the process. April 15th is still the tax deadline for individuals, married couples, and business entities in 2021. However, there are other important deadlines throughout tax season to keep in mind. Tax filing deadline for 2021 The deadline for filing federal and state (Massachusetts) tax … [Read more...]
Remember these Tax Deadlines in 2020
Whether you’re filing taxes once a year as an individual or married couple, or as a business entity, advance planning and tips from Ten Key will keep your tax season stress-free, so you can focus on your business. Mark your calendars for the correct filing deadlines for filing returns for the 2019 tax year so you’ll have peace of mind—and avoid costly penalties.For individualsAren’t all … [Read more...]
Tax Season is over, but it’s Never too Early to Prepare for Next Year
The typical mad rush of tax filers inputting data and struggling to find all the necessary details to file their taxes before the midnight deadline is finally over. Phew! We made it. While we’re all breathing a sigh of relief that tax season is wrapped and in the books, the reality is that now is actually the perfect time to start preparing for next year.NO! You might be screaming inside your … [Read more...]