Tax Blog

The CARES Act was the first of three major COVID-relief packages that have infused the US economy with stimulus funds provided for items like direct payments, new and expanded tax credits, forgivable business loan programs, and extended unemployment insurance. Identity thieves responded by deploying a host of scams that try to steal those federal dollars from hard-hit Americans, leading to a near-constant stream of alerts from the Internal Revenue Service and the Federal Trade Commission.… Read more about FTC Warns of New Unemployment Identity Theft Scam (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The Internal Revenue Service says it’s pulling out all the stops to come to agreement with taxpayers who owe back taxes. Through its Office of Chief Counsel, the agency announced the significant expansion of its Settlement Days program and proclaimed March 2021 is now “National Settlement Month.”… Read more about IRS Announces March is National Settlement Month (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

Much like last year, the 2021 filing season has been characterized by challenges. The season started later than usual, tax professionals and taxpayers continue to manage pandemic safety precautions, and guidance is pending for the retroactive tax law changes included in the American Rescue Plan Act of 2021 that President Biden signed into law last week.… Read more about Tax Day Pushed Back to May 17 (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

There are a lot of things vying for our attention these days: the coronavirus, vaccine opportunities, new Economic Impact Payments—all worthy topics. But when it comes to taxes, recent changes to retirement plan rules also shouldn’t go unnoticed.… Read more about Don’t Overlook Recent Changes to Retirement Plans (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

It won’t be long before Americans start seeing the third round of Economic Impact Payments—also known as EIP3—showing up in their bank accounts and mailboxes.… Read more about IRS Now Sending Out Third Round of Economic Impact Payments (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

Taxpayers, no matter their age, may be able to claim a deduction on their 2020 tax returns for contributions to their Individual Retirement Arrangement (IRA) if they make them by April 15.… Read more about Taxpayers Can Still Get Credit for IRA Contributions on 2020 Returns (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…