More than 2.3M additional ‘Economic Impact Payments’ disbursed
The Internal Revenue Service, the U.S. Department of the Treasury, and the Bureau of the Fiscal Service report they have disbursed more than 2.3 million additional Economic Impact Payments under the American Rescue Plan. The recent announcement covers the most recent two weeks of the effort brings the total disbursed [...]
IRS reminds taxpayers living and working abroad of June 15 deadline
The Internal Revenue Service reminded taxpayers living and working outside of the United States that they must file their 2020 federal income tax return by Tuesday, June 15. This deadline applies to both U.S. citizens and resident aliens abroad, including those with dual citizenship. Just as most taxpayers in the [...]
2021 IRS Virtual Nationwide Tax Forum begins in July
The Internal Revenue Service announced that its 2021 Virtual IRS Nationwide Tax Forum will be held over five weeks starting July 20, with a series of live-streamed webinars every Tuesday, Wednesday, and Thursday. Held each summer for 30 years, the IRS Nationwide Tax Forums are the IRS's marquee outreach event [...]
Tax breaks under the American Rescue Plan, and Child Tax Credit
The Internal Revenue Service provided guidance on tax breaks under the American Rescue Plan Act of 2021 for continuation health coverage under the Consolidated Omnibus Budget Reconciliation Act of 1985 (COBRA). Notice 2021-31 PDF provides guidance for employers, plan administrators, and health insurers regarding the new credit available to them for providing [...]
Deadline to apply for 2022-2024 volunteer Taxpayer Advocacy Panel extended
The Internal Revenue Service has extended the deadline for civic-minded volunteers to apply for membership on the Taxpayer Advocacy Panel (TAP) for 2022. Taxpayers may submit a TAP application online at www.improveirs.org through June 1, 2021. The TAP is a federal advisory committee that listens to taxpayers, identifies major taxpayer concerns, and [...]
As hurricane season nears, prepare for natural disasters
The Internal Revenue Service reminds everyone that May includes National Hurricane Preparedness Week and is also National Wildfire Awareness Month. Now is a good time to create or review emergency preparedness plans for surviving natural disasters. In the last year, the Federal Emergency Management Agency (FEMA) declared major disasters following hurricanes, tropical [...]