Millennials currently account for more than a third of all American workforce participants. They are the largest generation in the US labor force. It is critical that employers strive to make their workplaces conducive to these early to mid-level career professionals. This generation will continue to consume much of the job market in the coming years. This group is large and highly diverse. It is important that employers avoid making assumptions about candidates and employees based only on th…
Why TIN Matching Is Critical To 1099 Compliance
It is common to report an incorrect Tax Identification Number (TIN) or name when filing 1099 forms with the IRS. Sometimes it could be a typo, or it could be because the vendor provides their business name with their social security number (SSN), or vice versa. To prevent the IRS from issuing penalties for inaccurate reporting, it is recommended that you verify the accuracy of the recipient's Tax Identification Number (TIN) before filing 1099 forms.
6 Things You May Not Know About The Child Tax Credit
Some 36 million American families have received letters from the Internal Revenue Service (IRS) notifying them they are eligible for monthly payments of up to $300 per child by expanding an existing tax credit. These payments, approved as part of the American Rescue Plan, allows families to receive a $3,000 annual benefit ($250 each month) for each child aged 6-17 and $3,600 (or $300 a month) for each child under age 6 for the 2021 tax year. What You May Not Know The payments received in…
23 Changes To 2nd Quarter 941
The IRS Announces 23 Changes To 2nd Quarter 941. Aatrix has updated the 941 Form to include 10 new lines and the 13 revised or renumbered lines. Aatrix has tested the new form, and it's ready for 2nd quarter filing.
States Have Started Cutting off Federal Unemployment Benefits This Week
Twenty-five states are ending their participation in the federal unemployment programs beginning June 12th, almost three months before their official expiration on September 6th.
How To Protect Your Company’s Data From Online Attackers?
It seems like every few months, we hear of yet another company whose data has been breached or most recently held for ransom. While financial gain remains the top motive of attackers, here are just a few ways to help protect your company from being the next victim.
eFiling Thresholds Lowered for 2021
The Taxpayer First Act reduces the threshold that triggers the electronic filing requirement for the combined filing of most information returns to the IRS, including Forms W-2, Wage, and Tax Statement, and the Form 1099 series.
10 Essential Tips For Working Remotely
There's no question about it—for most companies, remote work is here to stay for the immediate future. Whether companies have plans to remain fully remote or are just until they have a better idea of what the future holds. Going into a remote work environment with eyes wide open will prepare companies and their employees for long-term success.
EEO-1 Filing Period Is Now Open
The U.S. Equal Employment Opportunity Commission (EEOC) launched its annual EEO-1 data collection process earlier this month. The mandatory data collection process requires all private-sector employers with 100 or more employees and federal contractors with 50 or more employees meeting certain criteria to submit demographic workforce data, including data by race/ethnicity, sex, and job categories.
What You Should Know About The American Rescue Plan Act
The American Rescue Plan Act of 2021 (ARP) allows employers to claim refundable tax credits that reimburse them for the cost of providing paid sick and family leave to their employees due to COVID-19, including leave taken by employees to receive or recover from COVID-19 vaccinations.
