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Baer Tax Group, Inc, is open!

When visiting the Baer Tax Group, Inc.office, a face covering/mask is required.

We continue to encourage the use of our secure client portal for submission of documents and to receive your tax returns.

Our office hours are Monday to Friday from 8am to 4pm and the secure outside drop box is available for after hours drop off.

We appreciate your understanding and thank you for your business.

IRS Announces 2021 Tax Filing Season

• The IRS will begin accepting and processing 2020 tax year returns on Friday, Feb.12, 2021.

• Most earned income tax credit or advanced child tax credit related refunds should be available in taxpayer bank accounts or on debit cards by the first week of March, if they choose direct deposit and there are no other issues with their tax return.

Economic Stimulus Payment

Part of completing this year's tax return is reporting the amounts of any economic stimulus payments that you received. The payments are not taxable income, but this requirement is in place to insure all eligible taxpayers received their payments.

Use the IRS link below or check with your bank, if you received direct deposit, to get the dates and amounts required to complete your tax return.

Link to IRS

SBA Payroll Protection Program First Loan Information

Read Here

SBA Payroll Protection Program Second Loan Information

Read Here

Did you have your PPP Loan reduced by the EIDL Advance?

Read Here

Recent News- Payroll Protection Program Funds and Updates

Read the Update here

Need Assistance with your Payroll Protection Program Application or Forgiveness?

Contact Us

Getting Ready to File Taxes in 2021

See These Tips from the IRS for Filing in 2021

New Form for Subcontractors- 1099 NEC( Nonemployee Compensation)

File Form 1099-NEC, Nonemployee Compensation (NEC), for each person in the course of your business to whom you have paid the following during the year:

This form replaces the 1099 MISC for Nonemployee compensation.

The 1099-NEC form should be used for the following:

At least $600 in:

Services performed by someone who is not your employee (including parts and materials) (box 1)

Cash payments for fish (or other aquatic life) you purchase from anyone engaged in the trade or business of catching fish (box 1)

Payments to an attorney (box 1).

The 1099-MISC form should be used for the following:

At least $10 in royalties (see the instructions for box 2) or broker payments in lieu of dividends or tax-exempt interest (see the instructions for box 8).

At least $600 in:

Rents (box 1);

Prizes and awards (box 3)

Other income payments (box 3)

Generally, the cash paid from a notional principal contract to an individual, partnership, or estate (box 3)

Any fishing boat proceeds (box 5)

Medical and health care payments (box 6)

Crop insurance proceeds (box 9)

Payments to an attorney (box 10) (see Payments to attorneys, later)

Section 409A deferrals (box 12)

Nonqualified deferred compensation (box 14)