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Blog – RMS Accounting
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𝗘𝗺𝗽𝗹𝗼𝘆𝗲𝗲 𝗥𝗲𝘁𝗲𝗻𝘁𝗶𝗼𝗻 𝗖𝗿𝗲𝗱𝗶𝘁

𝗜𝗥𝗦 𝗣𝗿𝗼𝘃𝗶𝗱𝗲𝘀 𝗚𝘂𝗶𝗱𝗮𝗻𝗰𝗲 𝗳𝗼𝗿 𝗘𝗺𝗽𝗹𝗼𝘆𝗲𝗿𝘀 𝗖𝗹𝗮𝗶𝗺𝗶𝗻𝗴 𝘁𝗵𝗲 𝗘𝗺𝗽𝗹𝗼𝘆𝗲𝗲 𝗥𝗲𝘁𝗲𝗻𝘁𝗶𝗼𝗻 𝗖𝗿𝗲𝗱𝗶𝘁 𝗳𝗼𝗿 𝟮𝟬𝟮𝟬: The IRS has issued a Notice on claiming the employee retention credit for calendar quarters in 2020. The guidance, which is similar to FAQs published on www.irs.gov , clarifies the...

Important Crypto & Virtual Currency Update

𝐓𝐡𝐞 𝐈𝐑𝐒 𝐡𝐚𝐬 𝐦𝐨𝐯𝐞𝐝 𝐭𝐡𝐞 𝐯𝐢𝐫𝐭𝐮𝐚𝐥 𝐜𝐮𝐫𝐫𝐞𝐧𝐜𝐲 𝐪𝐮𝐞𝐬𝐭𝐢𝐨𝐧 from Schedule 1 of the 2019 Form 1040 to the first page of the 2020 Form 1040 and Form 1040-SR. The question asks, “At any time during 2020, did you receive, sell, send, exchange, or otherwise acquire any financial...