This year’s event will be hosted by award-winning documentarian, journalist, speaker, author, and philanthropist Soledad O’Brien, CEO of Soledad O’Brien Productions, and Scott McFarlane, co-founder and CEO of Avalara.
If they receive unemployment compensation payments that are otherwise subject to U.S. income tax, they may be eligible to exclude up to $10,200 per person of unemployment compensation from U.S. income tax for 2020, following legislation that was...
This brings the total disbursed so far to more than 130 million payments worth approximately $335 billion.
Because a change in the taxability of unemployment benefits was made into law after some people filed their taxes, the IRS will automatically calculate the amount those taxpayers should be refunded, starting in May.
The IRS will take steps to automatically refund money this spring and summer to people who filed their tax return reporting unemployment compensation before the recent changes made by the American Rescue Plan.
The IRS is strongly urging taxpayers to not file amended returns related to the new provisions in ARPA or take other unnecessary steps at this time.
Taxpayers who believe they may have provided identity thieves with this information should consider immediately obtaining an Identity Protection PIN. This is a voluntary opt-in program. An IP PIN is a six-digit number that helps prevent identity ...
The Internal Revenue Service has issued frequently asked questions on how students and higher education institutions should report pandemic-related emergency financial aid grants.