IRS Changes Key Taxpayer-Friendly Catch-up Procedures
In November 2020, the IRS quietly made subtle changes to the Delinquent International Information Return Submission Procedures. This popular taxpayer-friendly process allows taxpayers that are behind on foreign reporting to come forward and become compliant, while avoiding the significant penalties associated with these forms. Foreign reporting could be reporting of foreign financial assets, related party […]
Doing Business in the U.S. – Sales Tax Update & State Mandates Webinar
Thursday, February 11, 2021 Noon – 1 p.m. Are you selling products and/or services in the U.S.? Are you collecting and remitting the correct sales tax on those sales? Hear from our experts what it takes to remain compliant with the new state thresholds. Click here to register for this timely and informative webinar, hosted […]
Employee Retention Credit Extended and Expanded
Updated March 12, 2021 The CARES Act originally created the Employee Retention Tax Credit (ERTC) when it was enacted into law in March 2020. The ERTC is designed to encourage businesses to keep employees on their payroll by providing a refundable tax credit against certain employment taxes equal to 50% of the first $10,000 in […]
New Form 1099-NEC for Reporting Non-employee Compensation
By June Callari, CPA, MBA and Vedha Krishnamoorthy, CPA Beginning with tax year 2020 (Form 1099s filed in January 2021), the new Form 1099-NEC, non-employee compensation, must be used to report payments of non-employee compensation (NEC). These payments were previously reported in box 7 on Form 1099-MISC. Form 1099-NEC is used by payers to report […]
Register Now – “U.S. Expansion: Scaling Your U.S. Operations” Webinar
Presented by Tronconi Segarra & Associates’ Principals David Lever, CPA/Cross Border and Dan Spada, CPA/Client Accounting Services, with special guest speaker Peter Petrella, Managing Director, Acara Solutions and a welcome message from Mr. Khawar Nasim, Acting Consul General of the Canadian Consulate General. Register for this webinar here. Download and/or share a PDF of this […]
Cross Border News – January 2021
To register for the January 27 webinar, “U.S. Expansion: Scaling Your U.S. Operations,” click here. To register for the February 11 webinar, “Doing Business in the U.S.: Sales Tax Update & State Mandates Webinar,” click here. To read our latest Cross-Border Success Story, click here. To read the HR Updates/Minimum Wage article, click here. To […]
Second Draw PPP Loans Now Available
The Consolidated Appropriations Act, 2021 (CAA) signed into law by President Trump on December 27, 2020, includes Division N, Title III, the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act), which continues the Paycheck Protection Program (PPP) and other small business support programs. Title III provides a number of revisions […]
New COVID Relief Law Revises and Reopens PPP to New Borrowers
The Consolidated Appropriations Act, 2021 (CAA) signed into law by President Trump on December 27, 2020, includes Division N, Title III, the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (Economic Aid Act), which continues the Paycheck Protection Program (PPP) and other small business support programs. Title III provides a number of revisions […]
New COVID Relief Law Includes Many Tax Provisions
The Consolidated Appropriations Act, 2021 (CAA) signed into law by President Trump on December 27, 2020, includes the COVID-Related Tax Relief Act of 2020 (Division N) and the Taxpayer Certainty and Disaster Relief Act of 2020 (Division EE) which provide a number of new tax provisions, as well as extensions of certain CARES Act tax […]
Business Success Stories: Cross-Border Solutions
As we truly partner with our clients, we work hard to provide solutions beyond the obvious and the ordinary. This happens by working with our clients closely to identify areas of opportunity and improved business strategies. Some solutions are quick and easy, and others require us to roll up our sleeves to find the right […]