Did you take a coronavirus distribution (CVD) of up to a combined limit of $100,000 from one or more of your traditional IRAs in 2020? You can recontribute the CVD …
The IRS announced it will issue another round of refunds this week to nearly 4 million taxpayers who overpaid their taxes on unemployment compensation received last year. The American Rescue …
The rules also affect your costs during the day. When you have an overnight business travel day, you generally deduct your costs of sustaining life for the day, such as …
For taxpayers who wish to opt out of the Advance CTC, it’s already too late to do so for the first payment, which should arrive on the 15th for most …
The Internal Revenue Service upgraded a key online tool to enable families to quickly and easily update their bank account information so they can receive their monthly Child Tax Credit …
The Internal Revenue Service today began its “Dirty Dozen” list for 2021 with a warning for taxpayers, tax professionals and financial institutions to be on the lookout for these 12 …
The Internal Revenue Service announced that interest rates will remain the same for the calendar quarter beginning July 1, 2021. The rates will be: 3% for overpayments (two (2) % …
From irs.gov: The Internal Revenue Service will begin issuing refunds this week to eligible taxpayers who paid taxes on 2020 unemployment compensation that the recently-enacted American Rescue Plan later excluded …
The IRS issued guidance on the taxability of dependent care assistance programs for 2021 and 2022, clarifying that amounts attributable to carryovers or an extended period for incurring claims generally …
Due to the ongoing COVID-19 pandemic, the IRS postponed the usual April 15 deadline for filing individual income tax returns to May 17, 2021. Even so, many people will still …
