In the coming year, plan administrators may be approached to join a new type of pooled 401(k) plan. The SECURE Act established a new type of multiple employer plan called a “pooled employer plan” (PEP). These plans allow unrelated employers to participate in a single, shared 401(k) plan. The U.S.
New legislation designed to support millions of Americans as they continue to struggle with the impact of COVID-19 on their health, livelihood, and community went into effect at the end of 2020. One of the major provisions of the Consolidated Appropriations Act (CAA) is relief for not-for-profit organizations. Here are
New for 2021 is Form 1099-NEC (Non-employee Compensation). The IRS now requires exempt organizations to report non-employee compensation on the new Form 1099-NEC instead of Form 1099-MISC. This is for payments totaling $600 or more to a nonemployee, such as an independent contractor. Form 1099-NEC should be filed with the
Forbes Magazine has named Barnes Dennig a 2021 Top Recommended Tax and Accounting Firm in America – one of only 172 firms across the country to be a recommended firm in both categories. Forbes partnered with research company Statista to conduct an independent survey and online access panel of thousands
Despite the many challenges of 2020 and the global pandemic, many of us are fortunate to have remained in good health – but others are not so lucky. Especially as the country faces an aging population, many families must travel to nursing homes or adult care facilities to see loved
The U.S. Small Business Administration (SBA), in consultation with the Treasury Department, announced today that the Paycheck Protection Program (PPP) will re-open the week of January 11 for new borrowers and certain existing PPP borrowers. To promote access to capital, initially only community financial institutions will be able to make