The Internal Revenue Service is reminding those with income from a farming or fishing business can avoid making any estimated tax payments by filing and paying their entire tax due on or before March 1. This rule generally applies if farming or fishing income was at least two-thirds of the [...]
The Internal Revenue Service reminds taxpayers they can securely access their IRS account information through their individual online account. New Features The IRS regularly adds features to online account. For example, people can now check the amounts of their Economic Impact Payments (EIPs) to help them accurately calculate any Recovery [...]
Good news: the IRS says eligible educators can now deduct unreimbursed expenses for COVID-19 protective items to stop the spread of COVID-19 in the classroom. COVID-19 protective items include, but are not limited to: face masks; disinfectant for use against COVID-19; hand soap; hand sanitizer; disposable gloves; tape, paint, or [...]
The Internal Revenue Service posted updated FAQs about recent legislation that extended and amended tax relief to certain small- and mid-sized employers under the Families First Coronavirus Response Act (FFCRA). The FAQs are available at COVID-19-Related Tax Credits for Required Paid Leave Provided by Small and Midsize Businesses FAQs. The [...]
Where will you be for the Super Bowl on Feb. 7 when the Kansas City Chiefs face off against the Tampa Bay Buccaneers for Super Bowl 55? Most will be home. Numerator, a data and tech company serving the market research space, launched a consumer sentiment study to understand how [...]
The Internal Revenue Service is reminding taxpayers that organizing tax records is an important first step for getting ready to prepare and file their 2020 tax return. Taxpayers should keep all necessary records, such as W-2s, 1099s, receipts, canceled checks and other documents that support an item of income, or [...]
Did you know certain credit-based applications need more preparation than others? Knowing how soon to check your FICO Scores in advance of an application puts you in the best position to get approved. Not only that, you can better estimate the terms you'll get approved for. If you're planning to [...]
IRS Free File – online tax preparation products available at no charge – launched recently, giving taxpayers an early opportunity to claim credits like the Recovery Rebate Credit and other deductions, the Internal Revenue Service announced. Leading tax software providers make their online products available for free as part of [...]
Employers must file Form W-2 and other wage statements by Monday, Feb. 1, 2021. This is also the date Form W-2s are due to employees. By law, employers are required to file copies of their Form W-2, Wage and Tax Statement, and Form W-3, Transmittal of Wage and Tax Statements, with the [...]
When people get ready to file their federal tax returns there are new things to consider when it comes to which credits to claim and what deductions to take. These things can affect the size of any refund the taxpayer may receive. Here are some new key things people should consider [...]
