Do You Employ a Nanny or a Caregiver? You May Owe Additional Taxes!
The tax law can jump up and bite you in unexpected places. One example of that is the nanny tax. Do you have a household employee such as a nanny, …
Insights and News
Important Provider Relief Fund Updates! Revised Reporting Requirements and Deadlines to Use Funds!
Today, the U.S. Department of Health and Human Services, through the Health Resources and Services Administration (HRSA) is releasing revised reporting requirements for recipients of Provider Relief Fund (PRF) payments. …
Here’s How Saying “I Do” Can Affect a Couple’s Tax Situation
The arrival of summer is also the start of wedding season. Marriage changes many things and taxes is one of them. Newlyweds should know how tying the knot can affect …
Home Health: Important Pre-Claim Review Billing Issue! Claims Incorrectly Returning for Reason Code 39621.
From Palmetto GBA: Home Health Agencies participating in Pre-Claim Review are having claims incorrectly returning with reason code 39621, indicating to remove the UTN. Agencies should not remove the UTN! …
Child Tax Credit Payments Start July 15 for Eligible Families
The Internal Revenue Service has started sending letters to more than 36 million American families who, based on tax returns filed with the agency, may be eligible to receive monthly …
The Provider Relief Fund (PRF) Reporting Deadline is Just Weeks Away! Are You Prepared?
The CARES Act, passed in March last year, included $175 billion in Provider Relief Funding (PRF). Lawmakers promised that these funds would be available to providers with no strings attached …
The IRS is Closing the 1099-K / PayPal Loophole Next Year. What Does this Mean for You?
The PayPal loophole is going away in a little over six months from now. You may remember the strategy where you can avoid giving 1099s to contractors and vendors when …
Don’t Miss Out on Work Opportunity Tax Credits for Your Business!
The Work Opportunity Tax Credit rewards your good deeds. And now, because of new legislation, the rules are in place for longer than usual. If you need to hire workers …
The IRS Announces Interest Rates Will Remain the Same for the Third Quarter of 2021
The Internal Revenue Service announced that interest rates will remain the same for the calendar quarter beginning July 1, 2021. The rates will be: 3% for overpayments (two (2) % …
Haven’t Filed Your Taxes Yet? There’s Still Time to Avoid Penalties and Interest!
The Internal Revenue Service reminds taxpayers who missed the recent tax-filing deadline who are due a refund that there is no penalty for filing late. Those who owe and missed …