by taxPRO Websites Staff | May 4, 2021 | Tax Tips and News
It was a wise man indeed who first warned us to “hope for the best, but prepare for the worst.” The Internal Revenue Service is following in those footsteps by reminding taxpayers that spring begins a very active period for weather in the U.S. In light of that, May...
by taxPRO Websites Staff | May 1, 2021 | Tax Tips and News
Partnerships and S corporations that will have to report “international tax matters” in 2022 can now review the new draft releases for Schedules K-2 and K-3. The IRS today announced the early release drafts, noting that instructions would follow sometime in the...
by taxPRO Websites Staff | Apr 30, 2021 | Tax Tips and News
This tax season, like so many before, a lot of filers could use a little extra time to get the job done. And while it’s true that anyone can request an extension of time to file beyond this year’s May 17 deadline, some taxpayers don’t even have to ask in order to...
by taxPRO Websites Staff | Apr 29, 2021 | Tax Tips and News
The Internal Revenue Service has kept taxpayers’ mailboxes busy for months now, sending out notices to taxpayers about the various Economic Impact Payments that have been issued. The agency was required to mail a notice to the last known address of each Economic...
by taxPRO Websites Staff | Apr 28, 2021 | Tax Tips and News
The Internal Revenue Service has released guidance for changes to the Child Tax Credit, Earned Income Credit, and application percentage table (APT) that were included in the American Rescue Plan Act of 2021 (ARPA). The APT table is used to calculate a taxpayer’s...
