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News and Events

NCDOR Offers Business Recovery Grants to Eligible Businesses

Did you know the State of North Carolina is offering a one-time payment to eligible North Carolina businesses that have experienced a significant economic loss due to COVID-19? Businesses may be eligible to receive funds up to $500,000. The application period closes January 31, 2022. Click here to read more about these grants. Source: North Carolina Department …

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January 31, 2022 Deadline for Wage Statements & Information Returns

Form W-2 and other wage statements must be filed by employers by Monday, January 31, 2022. Form 1099-NEC, which reports non-employee compensation, must be filed by employers by Monday, January 31, 2022. Both of these forms are due to recipients by Monday, January 31, 2022. Click on the links below for more information on these …

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NCDOR Requires Electronic Filing of Annual Withholding Tax Reconciliation

Employers are required to file 2021 Form NC-3 electronically, along with Forms W-2 and Forms 1099-NEC. A $200 penalty will be assessed for failure to comply. These forms must be submitted by Monday, January 31, 2022.    Click on the links below for filing information for Form NC-3, Form W-2 and Form 1099-NEC.   Upload eNC3 NC …

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Are You Prepared for the 2022 Tax Season?

The Internal Revenue Service recently announced that they will begin accepting and processing 2021 tax year returns on January 24, 2022. Click on the links below to learn how to prepare for your tax return and what to expect ahead of the April 18, 2022 deadline. Tips to Make Tax Filing Easier 2022 Tax Filing …

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Important Child Tax Credit and Third Round Economic Impact Payment Letters Coming Your Way!!!

ATTENTION TAXPAYERS WHO RECEIVED ADVANCE CHILD TAX CREDIT (CTC) PAYMENTS AND ALSO RECIPIENTS OF THE THIRD ROUND OF THE ECONOMIC IMPACT PAYMENTS IN 2021! The Internal Revenue Service (IRS) recently announced that letters are being sent to those who received the aforementioned items and urge you to keep these for use when preparing your 2021 …

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Martin Starnes and Associates, (MSA) would like to wish you and your families a very Happy New Year.    In addition to the personal challenges of 2021, we all had to juggle many new tax laws and regulatory changes. It seemed every week there was something new to consider by way of government regulation. Congress afforded businesses …

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Long Awaited Change to NC PPP Expense Deduction

The waiting is over! Governor Cooper has recently signed into law the changes to all North Carolina businesses who received Paycheck Protection Program (PPP) loans. Please click here to read the details of these changes. Your tax manager will contact you in January to discuss with you further. Source: North Carolina Department of Revenue

MSA Surpasses NCACPA Volunteer 365 Goal

Once again, MSA employees did not disappoint when it came to the annual North Carolina Association of Certified Public Accountants (NCACPA) Volunteer 365 event (formerly called CPA Day of Service). Our firm surpassed our goal to collect 365 items for the Catawba County Social Services’ Foster Care program several times over! Many of the items …

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Employees Assist with Jingle Bell Bash Event

The United Arts Council of Catawba County kicked off the holiday season with their annual Jingle Bell BASH (Benefitting Arts, Science, and History) on December 6, 2021 at the Lake Hickory Country Club. Area restaurants and caterers provided a wide variety of delicious food to enjoy at the event. By purchasing a ticket, participants had the …

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