Income Tax

The Internal Revenue Service is reminding taxpayers about the rules for required minimum distributions (RMDs) from retirement accounts.

“Even the IRS – faced with a significant mail processing backlog, a delayed start of the 2021 tax season, inundated phone lines, and a new round of COVID-19 relief payments – is overwhelmed. Denying a postponement of this filing and payment deadline ...

The modern digital finance network is one of the most dynamic, fast-moving technological entities on the face of the planet.

No action is needed by most taxpayers; the payments will be automatic and, in many cases, similar to how people received the first and second round of Economic Impact Payments in 2020. People can check the “Get My Payment” tool on IRS.gov on Monday to ...

In addition to the $1,400 stimulus payments to many Americans, the American Rescue Plan Act provides many other relief measures, and also some new business tax measures, that should be noted.

Simpson also called upon Congress to extend the PPP application deadline by at least 60 days after March 31, 2021, citing urgent challenges facing small business and their CPA advisors, ...

In this version, the maximum payment is $1,400 per qualified individual or $2,800 for a couple. Previous payment amounts were for $1,200 and $600 per qualified individual respectively. In addition, payments are now available for all dependents, ...

President Biden has signed into law the new economic relief package passed by the House of Representatives and Senate on Wednesday. The American Rescue Plan (ARP) Act provides a wide array of tax-related benefits for individuals. Following is a brief ...