The Internal Revenue Service (IRS) created the ERC tax credit to support businesses and tax-exempt organizations that supported employees during COVID-19. However, the IRS reports that it is pausing the ERC tax credit due to reports of fraud, especially with the IRS seeing aggressive marketing that is misleading businesses and tax-exempt organizations to claim the […]
Current Events
The Corporate Transparency Act
With the increasing importance of transparency and accountability in both private and governmental settings, the U.S. government has introduced the Corporate Transparency Act (CTA). Set to go into effect on January 1, 2024, the CTA aims to tackle financial issues such as money laundering. As the deadline approaches, now is the time to identify which […]
The Society of CIC Recognizes Gary Sutherland for Twenty Years of Leadership
Gary Sutherland of McGowanPro in Framingham, Massachusetts was recently honored for his ongoing pledge to education, commitment to excellence, and dedication to the insurance profession. The Society of Certified Insurance Counselors (CIC) presented Gary Sutherland with a formally inscribed certificate for his continued participation in the CIC Program. Earning his CIC Designation and maintaining all […]
Understanding the Wayfair Decision and Associated Risks
The days of internet sellers and buyers avoiding state sales tax ended on June 21, 2018, when the United States Supreme Court ruled 5-4 in South Dakota v. Wayfair. The ruling said states could collect and remit sales tax on businesses without a physical presence doing more than 200 transactions or $100,000 in in-state sales. As […]
COVID-19 and Cybersecurity Best Practices
The COVID-19 pandemic is something nobody living today has ever experienced. It’s attacked our health and done extensive damage to our economy and way of life. If that weren’t enough, cybercriminals have added insult to injury by attacking under the COVID-19 guise. Working remotely from home has become the “new normal,” and the trend will […]