News by MHCS
MHCS State Tax Alert - Illinois
Feb 04, 2021
State and local taxes change frequently throughout the year. To help, MHCS has created State Tax Alerts to identify those state and local changes that may impact you and your business. Since your time...
Learn MoreSick and Family Leave Paid Wages Update
Feb 03, 2021
On December 27, 2020, President Trump signed into law the Consolidated Appropriations Act, 2021(HR 133, “the Act”). This Act extended several tax incentives set to expire on December 31, 2020 and addr...
Learn MoreEmployee Retention Credit - FTEs and Partial Shutdown Rules
Jan 28, 2021
The Consolidated Appropriations Act, 2021 ("the Act") was signed into law at the end of December. The Act includes significant enhancements to the Employee Retention Tax Credit ("ERTC", "the credit") ...
Learn MoreWorkplace Personalities
Jan 26, 2021
Do you really know who you work with every day? You may know about your colleagues’ family, their hobbies, or what they like to eat over their lunch break, but again, let me ask; do you REALLY know an...
Learn MoreSimple, Not Easy
Jan 20, 2021
The other day my wife called and said the car wouldn’t start; the battery was dead. The car had made it to the store, but it was not going to make the trip home. The next morning, we set out to jump-s...
Learn MorePaycheck Protection Program Second Draw Loans
Jan 11, 2021
On December 27, 2020, the President signed the Economic Aid to Hard-Hit Small Businesses, Nonprofits, and Venues Act (the Act) into law. The Act allows for qualifying small businesses to participate i...
Learn MoreConsolidated Appropriations Act
Dec 31, 2020
President Trump signed the Consolidated Appropriations Act, 2021 (HR 133, “the Act”) into law late Sunday evening December 27th. The Act addressed the much-awaited Paycheck Protection Program (“PPP”) ...
Learn MoreReminder: The 1099 Filing Deadline is Approaching!
Dec 29, 2020
This is a reminder that the IRS filing deadline for entities issuing Forms 1099 is approaching. The new Form 1099-NEC is required to be filed for each person to whom you have paid at least $600 or mor...
Learn MoreGetting Comfortable Being Uncomfortable
Dec 09, 2020
No one likes being uncomfortable. At least the vast majority of us prefer to be in comfortable situations. However, 2020 has brought about a lot of uncomfortable situations and a lot of topics that so...
Learn More6 Tips for Online Holiday Shopping
Nov 30, 2020
For many people, Thanksgiving means spending time with family and friends gathered around the dinner table. While this may look slightly different this year due to Covid-19, it is the holidays that fa...
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