by taxPRO Websites Staff | Jan 28, 2021 | Tax Tips and News
The Department of Labor reported a staggering 75.9 million initial unemployment insurance benefits claims from January 5, 2020 to January 2, 2021. The number of weekly claims spiked in March, underscoring the devastating financial impact of the COVID-19...
by taxPRO Websites Staff | Jan 26, 2021 | Tax Tips and News
No matter what strategy taxpayers use to get their income taxes filed, gathering critical documents now can help make this tax season headache-free. No matter whether taxpayers do their own taxes or employ the services of a tax professional, rounding up necessary...
by taxPRO Websites Staff | Jan 23, 2021 | Tax Tips and News
The Internal Revenue Service closed out the week by reminding taxpayers that receiving a tax refund by direct deposit is faster and more flexible than traditional paper checks, even for those who do not currently have a bank account. To help convince the remaining 20...
by taxPRO Websites Staff | Jan 22, 2021 | Tax Tips and News
A recently released notice allows employers who elected to defer certain employees’ taxes to withhold and pay those deferred taxes throughout 2021—instead of just the first four months of the year. The action comes in Notice 2021-11 which has been released by the...
by taxPRO Websites Staff | Jan 22, 2021 | Tax Tips and News
The Internal Revenue Service has issued a notice that seeks to expand relief for funds and investors affected by the COVID-19 pandemic. Notice 2021-10 provides additional relief under section 7508A of the Internal Revenue Code for Qualified Opportunity Funds (QOFs)...
by taxPRO Websites Staff | Jan 19, 2021 | Tax Tips and News
It’s a busy time for the Treasury Department and the Internal Revenue Service. They’re sending out some 8 million second-round Economic Impact Payments (EIPs) by prepaid debit card. The debit cards follow millions of EIPs already made by direct deposit and the ongoing...
