High inflation will persist into next year, CBO projects
A new report also showed the federal deficit falling this year as covid aid expired The Congressional Budget Office said this week that high inflation is expected to persist for…
American Rescue Plan Act (2021) lowers filing threshold for Form 1099K, Payment Card and Third-Party Network Transactions
New Income Reporting Threshold for Gig Workers The American Rescue Plan Act of 2021 (“the Act”), enacted in March 2021, dramatically lowers the filing threshold for payments required to be…
Are you Eligible for this New Round of Stimulus Check?
If you live in the state of California you are about to receive a brand new stimulus check. Governor Gavin Newsom signed additional COVID-19 relief legislation this week that will…
G7 Countries reached agreement on 15 percent minimum global tax rate
Finance ministers for the G-7 advanced economies (Canada, France, Germany, Italy, Japan, the United Kingdom, and the United States) announced Saturday they have reached an agreement at the G-7 meeting…
Tax Hikes on high-income Americans?
President Joe Biden is contemplating new tax hikes aimed at high-income families to finance the second phase of his multitrillion-dollar infrastructure plans, according to people familiar with the discussions, Politico…
Federal Tax Filing and Payment Deadline Extension
#ICYMI: The federal tax filing deadline has been extended to May 17, 2021. While you now have more time, we still encourage all taxpayers to file their taxes now to…