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29/11/2021

COVID Tax Tip 2021-175: Some important things all taxpayers should do before the tax year ends Internal Revenue Service (IRS) sent this bulletin at 11/29/2021 10:23 AM EST IRS Tax Tips November 29, 2021 Useful Links: IRS.gov Help For Hurricane Victims News Essentials What's Hot News Releases IRS - T...

14/07/2021

Child Tax Credit - Monthly Payments start July 2021!

The IRS recently upgraded the Child Tax Credit Update Portal to enable families to update their bank account information so they can receive their monthly Child Tax Credit payment. The tool also allows families to unenroll from the advance payments if they don’t want to receive them. The Update Po...

24/05/2021

Look out for advance payments in 2021! Remember to report this to your bookkeeper & accountant for 2021 tax prep!

Information for taxpayers who may receive advance Child Tax Credit payments in 2021.

01/05/2021

Great IRS app!

Thank you for subscribing to IRS Tax Tips, an IRS e-mail service. For more information on federal taxes please visit IRS.gov.

19/04/2021

More Information:Understanding Your IRS Notice or LetterTax Topic 651, Notices – What to DoTax Topic 653, IRS Notices and Bills, Penalties, and Interest ChargesTax Topic 654, Understanding Your CP75 or CP75A Notice Request for Supporting Documentation

08/04/2021

Normally, any unemployment compensation someone receives is taxable. However, a recent law change allows some recipients to not pay tax on some 2020 unemployment compensation.

08/04/2021

100% of Restaurant purchases deductible!

Treasury, IRS provide guidance on tax relief for deductions for food or beverages from restaurantsBusinesses can temporarily deduct 100% beginning Jan. 1, 2021

02/04/2021

The channels also offer playlists on specific tax topics, including ones for tax professionals and small business taxpayers. Share this tip on social media -- : IRS YouTube channels have helpful videos on a variety of tax topics. https://go.usa.gov/xsS8J

30/03/2021

Tax deadline extended! Taxes now due on my Birthday!

The IRS issued a notice providing more details and clarification of its previously announced postponement of the April 15 tax deadline for individuals. The notice extends the date for making 2020 IRA contributions; however, it does not extend the date for estimated tax payments.

15/03/2021

Good news!

The SBA extended deferral periods for all disaster loans, including those made through the COVID-19 Economic Injury Disaster Loan (EIDL) program. With the deferral, small businesses that received a COVID-19 EIDL loan won’t have to make a first payment on the loan until next year.

28/02/2021

The stimulus bill passed by the House contains many tax provisions, including a new round of economic stimulus payments, tax credits for COBRA continuation coverage, and expansions of the child tax credit, the earned income credit, and the child and dependent care credit.

28/02/2021

You may be able to stretch your budget by living in a state that does not tax some, or all, types of income drawn from retirement fund distributions.