Beginning with tax year 2020, all Nonemployee Compensation is to be reported on the new Form 1099-NEC. This type of compensation was previously reported in box 7 on the Form 1099-MISC.
If the following conditions are met, you must generally report a payment as nonemployee compensation:The payment was made to someone who is not your employee; The ... Read More ›
President Trump issued a presidential memorandum on August 8, 2020 directing the United States Secretary of the Treasury to authorize the deferral of the withholding, deposit and payment of the employee’s share of the social security tax (6.2%) and the employee’s share of the RRTA equivalent tax, on applicable wages and compensation paid from September ... Read More ›
Starting September 3, 2019 The Indiana Department of Revenue rolled out a new website called INTIME and implemented phase 1 of the rollout. Beginning September 8, 2020, The Department of Revenue will rollout phase 2 of the new e-services portal, INTIME, and will begin to support additional tax types on the portal.
All existing businesses who ... Read More ›