Unable to pay your taxes? Here’s some routes to take

It's never a good idea to duck the IRS. One lending company advises Americans who are in the throes of tax filing season and maybe worrying about the ability to pay their tax bill. A personal finance site MoneyRates.com offers suggestions and guidance to those struggling to pay Uncle Sam. "Taxpayers [...]

By |2021-03-17T15:21:42-08:00March 18th, 2021|Finance|Comments Off on Unable to pay your taxes? Here’s some routes to take

Didn’t get Economic Impact Payments? Find out more

The Internal Revenue Service said first-time filers and those who usually don't have a federal filing requirement to consider filing a 2020 tax return. They may be eligible to claim the Recovery Rebate Credit, a new refundable credit, authorized by the Coronavirus Aid, Relief, and Economic Security (CARES) Act and [...]

By |2021-03-05T16:57:58-08:00March 9th, 2021|Finance|Comments Off on Didn’t get Economic Impact Payments? Find out more

IRS: businesses need to report large cash transactions; e-file encouraged

The Internal Revenue Service reminds businesses of their responsibility to file Form 8300, Report of Cash Payments Over $10,000 and encourages e-filing to help them file accurate, complete forms. Although many cash transactions are legitimate, information reported on Form 8300 can help stop those who evade taxes, profit from drug [...]

By |2021-02-27T10:53:17-08:00March 2nd, 2021|Finance|Comments Off on IRS: businesses need to report large cash transactions; e-file encouraged

IRS reminds farmers and fishers of March 1 tax deadline

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 [...]

By |2021-02-20T16:51:50-08:00February 23rd, 2021|Finance|Comments Off on IRS reminds farmers and fishers of March 1 tax deadline

Get ready for tax season using IRS Online Account

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 [...]

By |2021-02-13T11:32:33-08:00February 16th, 2021|Finance|Comments Off on Get ready for tax season using IRS Online Account

Educators: deduct out-of-pocket expenses for COVID-19 protective items

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 [...]

By |2021-02-06T12:05:31-08:00February 9th, 2021|Finance|Comments Off on Educators: deduct out-of-pocket expenses for COVID-19 protective items

IRS updates FAQs on paid sick leave credit and family leave credit

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 [...]

By |2021-01-30T14:35:52-08:00February 2nd, 2021|Finance|Comments Off on IRS updates FAQs on paid sick leave credit and family leave credit

Super Bowl consumer spending down — fans staying home, watching less

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 [...]

By |2021-01-27T18:42:03-08:00January 28th, 2021|Finance|Comments Off on Super Bowl consumer spending down — fans staying home, watching less

IRS: taxpayers gather tax docs now for smooth filing later

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 [...]

By |2021-01-23T16:21:04-08:00January 26th, 2021|Finance|Comments Off on IRS: taxpayers gather tax docs now for smooth filing later

Here is when you should you check your FICO scores

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 [...]

By |2021-01-20T19:05:04-08:00January 21st, 2021|Finance|Comments Off on Here is when you should you check your FICO scores

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