2021 Tax Filing Season Begins February 12th!
The IRS has announced that the nation’s tax season will start on Friday, February 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns. There …
The IRS has announced that the nation’s tax season will start on Friday, February 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns. There …
Question. If you have an office outside your personal home—say, downtown—can you have a tax-deductible office inside your home for the same trade or business? Answer. Yes. Q. Who says …
The Treasury Department and the IRS issued guidance allowing deductions for the payments of eligible expenses when such payments would result (or be expected to result) in the forgiveness of a …
As you doubtlessly know, Congress recently passed a massive new stimulus bill that was enacted into law on December 27, 2020. Most of the public’s attention has been focused on …
The Internal Revenue Service and the Treasury Department will begin delivering a second round of Economic Impact Payments as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 …
College is expensive. Data for the 2019–2020 academic year indicates that the average cost of tuition, fees, room, and board was $30,500. Tax law has provisions to help you cover …
From the IRS: The Internal Revenue Service today issued the 2021 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or …
From the IRS: The Internal Revenue Service today explained how expanded tax benefits can help both individuals and businesses give to charity before the end of this year. The Coronavirus …
Are you one of the over 11 million Americans who owe the IRS back taxes? The IRS temporarily suspended most collection efforts during the first wave of the coronavirus pandemic …
The IRS has issued new guidance on tax liability for PPP loan recipients. According to the new guidance, taxpayers cannot claim a deduction for any otherwise deductible expense if the …