2026 Tax Planning: The New Numbers Worth Knowing Now
The IRS released 2026 tax figures reflecting One Big Beautiful Bill changes. See the updated deductions and credits to plan around this year.
The IRS Will Delay the 2021 Income Tax Filing Deadline to Mid-May
The Internal Revenue Service is extending the tax deadline by a month. According to a breaking news story from USA Today: “While the IRS has not confirmed the date yet, …
Understanding COVID-19 Paid Sick Leave – Updated FAQs from the IRS
The IRS has updated their FAQs about recent legislation that extended and amended tax relief to certain small- and mid-sized employers under the Families First Coronavirus Response Act (FFCRA). Click …
Important Updates and Reminders for Your 2020 Tax Return
After an unpredictable year with many changes and challenges, the IRS shared important reminders for taxpayers who are about to file their 2020 federal tax returns. Navigating these changes can …
Is Your Home Office Tax-Deductible?
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 IRS Begins Delivery of the Second Round of Economic Impact Payments
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 …
The IRS Clarifies their Position on PPP Loans
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 …
Register by Nov. 21 to Get an Economic Impact Payment; Same Deadline for Federal Beneficiaries to Get Missed $500 per Child Payments
From the IRS: “The Internal Revenue Service today reminded people who don’t normally file tax returns that they have until Nov. 21 at 3 p.m. Eastern time to register for …
Taxpayer Relief Initiative Aims to Help Those Financially Affected by COVID-19
Due to the ongoing pandemic, the IRS reviewed its collection activities to see how it could provide relief for taxpayers who owe taxes but are struggling financially because of the …
The IRS Resumes Sending 500 Series Balance Due Notices
From irs.gov: The IRS will resume issuing the 500 series balance due notices to taxpayers later in October. These notices were paused on May 9 due to COVID-19. Although the …