Should You File Past Due Tax Returns?
Every year, many people who should have filed a tax return (or several years of returns) don’t file. Some think that if they cannot afford to pay the taxes due, they are better off not filing. For one reason or another, they missed the deadline and now wonder whether they’re better off filing the past due returns or trying to forget them.
403(b) Universal Availability Requirements
The IRS has been actively examining plans that may have inappropriately excluded eligible employees from participating based upon historical or industry practice. In the past, it was common for colleges to exclude adjunct professors or athletic coaches from participating in their plans. Hospitals sometimes did the same for on-call or casual nurses.
Maximizing the Employee Retention Credit
The ERC is a refundable payroll tax credit for qualified wages paid to employees of businesses dealing with a significant decline in gross receipts and/or closed or running limited operations because of government-mandated pandemic restrictions.
Under the Act, employers can receive a maximum credit of $14,000 per employee for the first two quarters of 2021.
How to Choose a CPA for Your Nonprofit
If your nonprofit organization needs compiled, reviewed or audited financial statements, or needs help filing the annual Form 990, the CPA you select to provide those services can be among the most important decisions you make for your nonprofit.
5 Ways to Protect Sensitive Plan Participant Information
Consider these five simple ways to protect your 401k plan or 403b plan participants’ sensitive personal information. The 2021 Plan Sponsor's Desk Reference is full of information relevant to HR, accounting, and finance professionals responsible for administering 401k and 403b defined contribution plans.