by Kwang Hoon Park & Co Accountancy Corporation | Aug 19, 2021 | Tax Tips and News
The tax industry partners who make up the Security Summit are urging practitioners to take a page out of the medical books in order to keep their computer systems healthy: to cure an infection, you first have to know your patient is sick. In other words, tax pros have...
by Kwang Hoon Park & Co Accountancy Corporation | Aug 18, 2021 | Tax Tips and News
The Internal Revenue Service says millions of families across the U.S. should see their advance payment of the Child Tax Credit (CTC) in their bank accounts or mailboxes any day now. This payment is the second in a series of advance monthly payments. The August...
by Kwang Hoon Park & Co Accountancy Corporation | Aug 14, 2021 | Tax Tips and News
New guidance from the Internal Revenue Service seeks to clear the air on the Work Opportunity Tax Credit (WOTC) for employers and gives relief to them as well. WOTC makes a federal income tax credit available to those employers who hire qualified workers from groups...
by Kwang Hoon Park & Co Accountancy Corporation | Aug 13, 2021 | Tax Tips and News
The Security Summit is this week broadening the scope of its 2021 “Protect Your Clients; Protect Yourself” campaign to include the different types of phishing scams that taxpayers may see in the coming months. This immediately follows the Summit highlighting recent...
by Kwang Hoon Park & Co Accountancy Corporation | Aug 12, 2021 | Tax Tips and News
A new safe harbor unveiled by the Internal Revenue Service and the Treasury Department lets employers exclude some items from their gross receipts when figuring if they are eligible for the Employee Retention Credit, or ERC. This new safe harbor is detailed in Revenue...
