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 …
The IRS is holding nearly 30 million tax refunds for manual processing. Recent COVID-19 relief legislation passed by Congress threw a monkey wrench into an already complicated year. Additionally, the …
The Internal Revenue Service and the Treasury Department announced further details of tax credits available under the American Rescue Plan to help small businesses, including providing paid leave for employees …
For tax year 2021, Congress is giving away billions of dollars in additional tax credits on your Form 1040 individual tax return. These temporarily expanded tax credits include the child …
The earned income tax credit (EITC) has been around for years. But for some folks, it’s never been worth as much as it will be for 2021. That’s thanks to …
Normally, any unemployment compensation someone receives is taxable. However, a recent law change allows some recipients to not pay tax on some 2020 unemployment compensation. The IRS will automatically refund …
The IRS issued guidance clarifying that the purchase of personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of coronavirus …
The IRS announced that, as required by law, all legally permitted first and second round of Economic Impact Payments have been issued and the IRS now turns its full attention …
Before the December 27, 2020, enactment of the new COVID-19 relief law, you may have chosen the Paycheck Protection Program (PPP) loan and given no thought to the employee retention …
