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There is a new IRS form meant for business taxpayers to utilize when they pay or receive nonemployee compensation. The 1099-NEC is being reinstated for tax year 2020 and beyond. The "NEC," stands for Non Employee Compensation.
Recently California residents and guests desperately need economic assistance. Now there is a new California EITC for non-citizens.
Educators can now deduct out-of-pocket expenses for COVID-19 protective items as an expansion of what can be deducted as Educator Expenses.
Only announced to our email subscribers!