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Blog – Page 2 – RMS Accounting
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𝗜𝗥𝗦 𝗣𝗿𝗶𝘃𝗮𝘁𝗲 𝗟𝗲𝘁𝘁𝗲𝗿 𝗥𝘂𝗶𝗻𝗴 𝟮𝟬𝟮𝟭𝟭𝟰𝟬𝟬𝟭.

𝗜𝗻 𝗮 𝗯𝗹𝗼𝘄 𝘁𝗵𝗲 𝗺𝗮𝗹𝗲 𝘀𝗮𝗺𝗲 𝘀𝗲𝘅 𝗺𝗮𝗿𝗿𝗶𝗲𝗱 𝗰𝗼𝘂𝗽𝗹𝗲𝘀 𝘄𝗮𝗻𝘁𝗶𝗻𝗴 𝘁𝗼 𝗵𝗮𝘃𝗲 𝗮 𝗯𝗮𝗯𝘆 𝘁𝗵𝗲 𝗜𝗥𝗦 𝗵𝗮𝘀 𝗶𝘀𝘀𝘂𝗲𝘀 𝗣𝗿𝗶𝘃𝗮𝘁𝗲 𝗟𝗲𝘁𝘁𝗲𝗿 𝗥𝘂𝗶𝗻𝗴 𝟮𝟬𝟮𝟭𝟭𝟰𝟬𝟬𝟭. The ruling limits medical deductions to, only medical costs directly attributable to the couple. According to the IRS the couple could deduct, as...

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...