LyfeAccounting

JANUARY 20, 2021

There are two ways to demonstrate a 25% or greater reduction in gross revenue: First, you can compare any quarter in 2019 with a comparable quarter in 2020. Second, you can use your 2019 and 2020 annual tax returns to confirm the revenue reduction. You can demonstrate a minimum 25% or greater reduction in gross revenue.

Non-Profits

LyfeAccounting

JUNE 29, 2021

In fact, the IRS portal is going through a number of updates that will allow families to: check the status of their payment, update their bank account information (starting in August), update mailing address, and. But for now, remember you are automatically enrolled if you: Filed a 2019 or 2020 tax return with the child tax credit.

Tax

LyfeAccounting

APRIL 8, 2021

In 2019, the IRS audited 0.4% of all individual tax returns. And if you want to ensure your taxes are being prepared and filed accurately, you can reach out to one of our tax consultants. We offer tax preparation services to help you this tax season. Let’s take a look at some data to back this up.

audit

LyfeAccounting

APRIL 22, 2021

Amazon paid $0 in Federal taxes in 2017 and 2018 but Amazon does pay plenty of payroll taxes, state taxes, and international taxes. In 2019, Amazon broke its streak of paying $0 Federal taxes and actually owed money to the federal government. Or, you can also talk to one of our tax consultants here.

Tax