
Post-Pandemic Savings Burning a Hole in Your Pocket?
COVID-19, SavingsNot to overstate the obvious, but the last 18 months have seen major modifications in the ways that most Americans spent their money. Without the ability to visit department stores, malls, and big-box stores, retail therapy was significantly…

The IRS is Resuming Collection & Enforcement Activities That Were Paused During COVID-19
COVID-19The IRS is reporting that it is resuming “certain collection and enforcement processes that had been suspended because of the coronavirus pandemic.”
On June 15, 2021, this process kicked off as the IRS started contacting taxpayers who…

Are Your Unemployment Benefits Taxable?
ARPA, CARES Act 2020, COVID-19, Oregon, Oregon Income Tax, Stimulus Payments, Tax News, Tax TipsArticle Highlights:
CARES and COVID Tax Relief Acts
Unemployment Benefits
American Rescue Plan
Tax-Exempt Portion of Unemployment
Bogus Forms 1099-G
Kiddie Tax and Unemployment
States’ Taxation of Unemployment
With…

Unemployment Fraudsters May Create a Tax Nightmare for Unsuspecting Taxpayers
CARES Act 2020, COVID-19, Scams, Security, Tax News, Tax TipsAs if this past year with all of its pandemic perils has not been stressful enough, the Office of the Inspector General for the Department of Labor has just added to our anxieties by announcing that at least at least $36 billion and possibly…

IRS to Automatically Adjust Prior Filed 2020 Returns with Unemployment Income
2021 Tax Laws, ARPA, COVID-19, EITC, Tax Credits, Tax News, Tax Planning, Tax TipsArticle Highlights
Prior Filed Returns with Unemployment Income
American Rescue Plan’s $10,200 Exclusion
IRS Automatic Adjustment
Refund Application
When an Amended Return Might Be Required
The IRS announced on March 31,…

April 2021 Tax Due Dates
2021 Due Dates, 2021 Tax Laws, COVID-19April 2021 Individual Due Dates
April 12 - Report Tips to Employer
If you are an employee who works for tips and received more than $20 in tips during March, you are required to report them to your employer on IRS Form 4070 no later than…

It’s Official! Another Round of Stimulus Payments Approved by Congress
2020 Stimulus Package, COVID-19, Stimulus PaymentsArticle Highlights:
Economic Impact Payments
High-Income Taxpayer Phaseout
Reconciliation
Dependents
Decedents
Social Security Number Requirements
Non-Filers
IRS Information Sites
The American Rescue Plan Act has…

Mom & Pop Businesses Move to Front of the Line for PPP Loans
COVID-19, Paycheck Protection Program, Stimulus PaymentsArticle Highlights:
14-Day Exclusive Application Period for Small Businesses and Nonprofits
Limited to 19 Employees
Loans Based on Gross Income Rather than Wages
Certain Restrictions Removed
At the direction of the White House…

How Biden’s Rescue Plan Might Impact Your Taxes
COVID-19, Stimulus Payments, UncategorizedHow Biden’s Rescue Plan Might Impact Your Taxes
Article Highlights:
Economic Impact Payments
Unemployment Compensation
Minimum Wage
Education Assistance
Families First Coronavirus Response Act
Child Care Tax…

House Votes Monday on Second $2,000 Stimulus Check After Trump Signs Bill
2020 Due Dates, 2020 Stimulus Package, 2020 Tax Laws, CARES Act 2020, COVID-19, EIP Card, Stimulus PaymentsFrom CNET | written by Jessica Dolcourt
President Trump signed the stimulus bill on Sunday night, avoiding the government shutdown. Today, the House will vote on $2,000 stimulus checks.
Sunday night, after days of criticizing the $600 second…