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Category Archives: Business

WA State Employers who pay Unemployment Taxes

A recent notice to Washington State Employers who pay unemployment taxes indicates you might be eligible for a benefit charge offset.   You can apply to offset part of your benefit charges, which might reduce your 2021 tax rate. A state law that passed in March provides $25 million to a newly created COVID-19 Unemployment Account....

Businesses: Get ready for the new Form 1099-NEC

There’s a new IRS form for business taxpayers that pay or receive nonemployee compensation. Beginning with tax year 2020, payers must complete Form 1099-NEC, Nonemployee Compensation, to report any payment of $600 or more to a payee. Why the new form? Prior to 2020, Form 1099-MISC was filed to report payments totaling at least $600...