ACE PLUS ARTICLES
Insightful & Informational Article Highlights
Ace Plus Tax Resolution always strives to inform our community about information regarding tax relief options. Take some time to read these articles for your own benefit!
The IRS has started again to send the collection notices to taxpayers from late October. These notices were paused due to COVID-19. Now, the IRS’s mail backlog is caught up enough to enforce non-payments, and they will start levy, lien, and other threatening collection activities. Before the pandemic, there were about 15 million taxpayers in […]
Updated as of October 23, 2020 IRS to restart sending 500 series balance due notices: The IRS will resume issuing the 500 series balance due notices to taxpayers later in October. These notices were paused on May 9 due to COVID-19. Although the IRS continued to issue most agency notices, the 500 series were suspended […]
Did you apply for an extension to file your tax return? The deadline is just around the corner and here is what you need to know. If you filed a request for additional time to file your tax returns, that extension expires on October 15. If you are waiting for a K-1 from a partnership, […]
IRS Warns Employers Not to File Form 941-X to Change Second Quarter Forms 941 Until Revised Version Issued in Late September
With the major revisions made to Form 941, the IRS is in the process of revising Form 941-X for making corrections to the quarterly federal tax return. While the IRS has issued a draft of Form 941-X on July 27, 2020, until such time as that form is released in final form the IRS has […]
Unemployment compensation is fully taxable and will be added to your gross income. If you received these benefits from the Federal or State government, then they will be taxed on Form 1040 at the ordinary income tax rate. Then, the amount will be reported to the individuals on Form 1099-G by January 31st. Millions of […]
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Liquidity in business has nothing to do with water, milk, or juice! It describes how quickly you can sell an asset and convert it into cash. Cash is the most liquid asset of all. Real estate, in contrast, is not quite as liquid because it could take months to sell it to a new owner. […]
Deciding on the kind of business you want to start is a very big decision. Some require specialized skills that either the owner or employees will need. Others require a substantial initial capital outlay. In any case, it’s always a good idea to consider the health of the industry you’ll be entering in. While we […]
If you’re unlucky enough to have a car without GPS navigation maps, the next best thing to use is your smartphone. This article will take a look at apps that help to get you from point A to point B. Google Maps Google Maps is the all-around favorite, whether you own an iPhone or an […]
To maximize profits in your business, all of your business functions need to run smoothly, including your accounting department. Your accounting system is at the core of your accounting function. If it is old or lacks the features you need, your business may suffer. Here are five warning signs you can look for to determine […]
At first glance, this article topic might seem too simple. After all, to get paid, don’t you just take money out of your business? Well, yes, but there is much more to it in the long run as well as from an accounting side. Let’s take a look. The Traditional Paycheck If you’ve ever worked […]