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Top 5 Tax Penalties & Interest Payments 2021 (Avoid These)

LyfeAccounting

Avoid Paying Tax Penalties: Here’s How. Delay taxes for a stimulus check? Well, if you want to put yourself at risk of IRS tax penalties in 2021, then you’re doing exactly that. And we’ve been surprised at the number of people who have no idea how tax penalties and tax interest actually work.

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How CAA affects 2020 returns

ThomsonReuters

The Consolidated Appropriations Act, 2021 (CAA; PL 116-260), contained numerous tax provisions. While many of those provisions impact tax years 2021 and later, some affect 2020 returns. Here’s a rundown of what you need to know about the CAA as you prepare 2020 business and individual tax returns.

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Last Week in Payroll: In Like a Lion; Out Like a Lamb

ThomsonReuters

In the early 1900s, automobile engineer Henry Ford made headlines for paying remuneration at two times the going hourly wage at the time – $5 per hour – to many of his employees. This makes a business’s payroll department very important since it is typically an employer’s greatest expense. bread, meat, clothing, etc.)

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