IRS Extends Individual Return Filing Date
2021 Due Dates, Tax News, Tax PlanningArticle Highlights:
IRS Announcement
Limited to Individual Tax Returns
Tax Due Payments
Further Extensions
2021 Estimated Tax Payments Not Extended
The IRS has announced they are extending the filing due date for 2020…
Tax Court Decision Holds Potential Impact for Travel Deductions
2021 Tax Laws, Deductions, Tax News, Tax Planning, Tax Tips, Taxes
There are many professions that require taxpayers to travel extensively and spend significant amounts of time in paid lodging. These expenses are traditionally claimed as travel deductions. However, a case recently heard by the Tax…
Individuals Have a New Opportunity to Receive $500 Economic Impact Payments for Their Children
2020 Stimulus Package, COVID-19, Tax NewsArticle Highlights:
$500 Per Child Stimulus Payment
Non-Filer Tool
Those Who Have Already Used the Non-Filer Tool
Those Who Haven’t Used Non-Filer Tool
How Payment Will be Made
Get My Payment Tool
Non-Filers
The…
How States are Reshaping Nexus Laws for Remote Employees Due to COVID-19
COVID-19, Tax News, Tax Planning, Tax Tips, TaxesEver since the coronavirus pandemic began impacting the United States, businesses around the country have responded by instituting work-from-home policies. While it is unclear how much longer the nation will be in the grips of the crisis, social…
IRS makes Form 1040-X amended tax returns available for e-filing
2020 Tax Laws, Tax News, Tax TipsFrom Michael Cohn, Editor-in-chief @ Accounting Today
The Internal Revenue Service is now letting taxpayers submit Form 1040-X electronically when they want to file an amended tax return through commercial tax software, in what the agency…
Tax Changes For 2019
2019 Tax Laws, Tax News, Tax Planning, TaxesAs the end of the year approaches, now is a good time to review the various changes that impact 2019 tax returns. Some of the changes are likely to apply to your tax situation. In addition, be aware that various tax-related bills currently in…
June Estimated Tax Payments Are Just Around the Corner
2018 Tax Laws, Business, Corporate, Tax News, Tax PlanningJune 15th falls on the weekend this year, so the due date for the second installment of estimated taxes is the next business day, June 17, which is just around the corner. So, it is time to determine if your estimated tax payment should be lowered…
5 Reasons to Amend a Previously Filed Tax Return
2018 Tax Laws, Tax News, Tax Tips, TaxesThe most recent data from the IRS on individual tax returns indicates that of 131 million returns filed, about 5 million were expected to be amended. This comes to less than 4 percent, but that projection still affects a significant number…
SALT Deduction – Battle Lines Have Been Set and Swords Have Been Drawn
Tax News, Tax Tips, TaxesArticle Highlights:
• SALT Tax Limits
• State Work-arounds
• Converting Tax Deductions to Charitable Contributions
• IRS Regulations
• Taxpayer Beware
Tax reform has limited the federal itemized deduction for state…
Do You Need to Renew Your ITIN?
2018 Tax Laws, Tax News, Tax Reform, TaxesThe IRS has announced that more than 2 million Individual Taxpayer Identification Numbers (ITINs) are set to expire at the end of 2018. An ITIN is a nine-digit number issued by the IRS to individuals who are required for U.S. federal tax purposes…