by taxPRO Websites Staff | Mar 4, 2021 | Tax Tips and News
Congress bookended 2020 with two taxpayer relief packages aimed at mitigating the financial strain caused by the ongoing coronavirus pandemic. The Coronavirus Aid, Relief, and Economic Securities Act and Taxpayer Certainty and Disaster Tax Relief Act of 2020 include a...
by taxPRO Websites Staff | Mar 3, 2021 | Tax Tips and News
A status report from the IRS shows income tax returns are being filed at a much slower rate than last year. But unlike in 2020, an extension to the April 15 filing deadline is unclear. The Internal Revenue Service released its Filing Season Statistics for the Week...
by taxPRO Websites Staff | Feb 28, 2021 | Tax Tips and News
The Internal Revenue Service has issued an alert covering amended returns and claims for the Domestic Production Activities Deduction, also known as DPAD. This provision of tax law was repealed as part of the Tax Cuts and Jobs Act for taxable years after Dec. 31,...
by taxPRO Websites Staff | Feb 27, 2021 | Tax Tips and News
Taxpayers with income from farming or fishing face a March 1 deadline for filing their income taxes. But the IRS reminds them they can avoid making any estimated tax payments by filing and paying their entire tax due on or before the deadline. The rule generally...
by taxPRO Websites Staff | Feb 26, 2021 | Tax Tips and News
Unemployment claims may have fallen since the initial months of the pandemic, but millions of Americans continue to struggle with long-term joblessness and medical bills caused by the coronavirus. While a third round of federal Economic Impact Payments is expected...
by taxPRO Websites Staff | Feb 25, 2021 | Tax Tips and News
Texas taxpayers impacted by this month’s brutal winter storms are getting some help from the Internal Revenue Service. The help includes extended deadlines and other relief measures. The entire state of Texas is included disaster declaration issued by the Federal...
