If you are a targeted small business and are experiencing a business disruption due to the COVID-19 pandemic, we encourage you to look into applying for a grant of up to $10,000 with Iowa Economic Development: https://www.iowaeconomicdevelopment.com/programDetails?pid=137&ppid=26 Businesses with no…
Iowa announced a grant package today for employers of 2-25 employees that are experiencing disruption due to the pandemic, for dollar amounts of $5k-$25k. Applications will be available tomorrow 3/24 at 8 a.m. here: Iowa Economic Development For employers that…
We’ve received many phone calls, emails, etc. from business owners as well as employees affected by COVID-19 business closures. We’re doing our best to share information as quickly as possible, and be there however we can for our clients. The…
The US Dept. of Treasury and IRS have issued some basic guidance on penalty & interest relief for the period April 15, 2020 – July 15, 2020. As a result, if you owe tax on your 2019 tax returns and/or…
As promised, the IRS released the final version of the new Federal W-4 form for use starting in 2020. Recall that a W-4 is a form filled out by an employee to tell the employer how much to withhold…
Tax season is here which means that scammers are going to be out in full force. If you receive a call, text, or email, from the “IRS” requesting personal information like a social security number, bank information, PIN number, etc.…
Certain food and beverage establishments are able to claim a credit for social security and Medicare taxes paid or incurred by the employer on certain employees’ tips. The following criteria must be met to claim the credit: Have had employees…
You’ve signed your individual tax return along with the authorization forms allowing BakerStarrett LLP to electronically file your tax returns. You’re done right? That depends on if your tax return shows a refund or amount due. If you owe While…
An independent division within the IRS called the Taxpayer Advocate Service (TAS) recently pulled back the curtain and provided some transparency into the process your tax return goes through when it is received by the IRS. The Taxpayer Roadmap attempts…
The Social Security Administration (SSA) announced that the wage base for Social Security will increase from $132,900 to $137,700 for 2020. This is an increase of $4,800. If employers and employees exceed this wage base they will be paying an…
