Millennials currently account for more than a third of all American workforce participants. They are the largest generation in the US labor force. It is critical that employers strive to make their workplaces conducive to these early to mid-level career professionals. This generation will continue to consume much of the job market in the coming years. This group is large and highly diverse. It is important that employers avoid making assumptions about candidates and employees based only on th…
Month: July 2021
Why TIN Matching Is Critical To 1099 Compliance
It is common to report an incorrect Tax Identification Number (TIN) or name when filing 1099 forms with the IRS. Sometimes it could be a typo, or it could be because the vendor provides their business name with their social security number (SSN), or vice versa. To prevent the IRS from issuing penalties for inaccurate reporting, it is recommended that you verify the accuracy of the recipient's Tax Identification Number (TIN) before filing 1099 forms.
6 Things You May Not Know About The Child Tax Credit
Some 36 million American families have received letters from the Internal Revenue Service (IRS) notifying them they are eligible for monthly payments of up to $300 per child by expanding an existing tax credit. These payments, approved as part of the American Rescue Plan, allows families to receive a $3,000 annual benefit ($250 each month) for each child aged 6-17 and $3,600 (or $300 a month) for each child under age 6 for the 2021 tax year. What You May Not Know The payments received in…
23 Changes To 2nd Quarter 941
The IRS Announces 23 Changes To 2nd Quarter 941. Aatrix has updated the 941 Form to include 10 new lines and the 13 revised or renumbered lines. Aatrix has tested the new form, and it's ready for 2nd quarter filing.
