The IRS recently announced greater flexibility, due to the pandemic, to employee benefit plans offering health flexible spending arrangements (FSAs) or dependent care assistance programs.
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Eligible self-employed individuals are entitled to claim qualified sick and family leave equivalent credits.
The IRS is reminding those with income from a farming or fishing business can avoid making any estimated tax payments by filing and paying their entire tax due on or before March 1.
The paid sick and family leave credits, which previously were available only until the end of 2020, have been extended for periods of leave taken through March 31, 2021.
Under the The Consolidated Appropriations Act of 2021, businesses which have forgiven PPP loans