IRS
Latest News
IRS Updates Clean Vehicle Tax Credit FAQs
Ex-EY Executive to Take Over as Global CEO for Law Firm Dentons
Wolters Kluwer Acquires European Tech Portfolio, Including CodaBox, ClearFacts, Clearnox, Zoomit, and Flowin
IRS Chief Receives NATP’s Inaugural Vanguard Award
![Deductions](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2021/03/Deductions.606230fc6c03b-768x576.png)
IRS Says Face Masks and PPE are Tax Deductible
The Internal Revenue Service has issued Announcement 2021-7 PDF to clarify that the purchase of personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of coronavirus are ...
![retirement_accounts](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2021/03/retirement_accounts.606232751858d.png)
Tax Deductions: IRA Contributions Can Be Made Until May 17, 2021
Contributions to a traditional IRA are usually tax deductible, and distributions are generally taxable. There is still time to make contributions that count for a 2020 tax return, if they are made by April 17, 2021. Taxpayers can file their return ...
![Tax Deadline Postponed](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2021/03/Tax_Deadline_Postponed.6062303778c80.png)
IRS Extends More 2021 Tax Deadlines, But Estimated Payments Still Due April 15, 2021
The IRS says individuals also now have until May 17, 2021 to meet certain deadlines that would normally fall on April 15, such as making IRA contributions, but the estimated tax payment deadline is still April 15, 2021.
![IRS_Badge_1](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2021/03/IRS_Badge_1.6060e29482a49.png)
IRS Ramps Up Covid Fraud Investigations
To learn more about COVID-19 scams and other financial schemes visit IRS.gov. Official IRS information about COVID-19 and Economic Impact Payments can be found on the Coronavirus Tax Relief page, which is updated frequently.
![wheelchair-1629490 pixabay kimkin_960_720](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2021/03/wheelchair_1629490_pixabay_kimkin_960_720.605b7556cc9e9-768x538.png)
Major Boost to Tax Credits for In-Home Employment
Most families will see their tax breaks for care-related expenses at least double and some will see them at least triple, and find it significantly cheaper to pay legally – and take advantage of the tax breaks – than to pay under the table.
![IRS_logo](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2021/03/IRS_logo.60537d4714ee9.png)
IRS Launches “National Settlement Month”
Settlement Days events are coordinated efforts to resolve cases in the United States Tax Court by providing taxpayers who are not represented by counsel with the opportunity to receive free tax advice from Low Income Taxpayer Clinics (LITCs), American ...
![May 17 Tax Deadline 2021](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2021/03/May_17_Tax_Deadline_2021.605278be6f95c.png)
IRS Makes it Official: Tax Deadline Delayed to May 17, 2021
The Treasury Department and Internal Revenue Service have officially announced that the federal income tax filing due date for individuals will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance ...
![tax_refund_2_.58ad2540b4575](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2021/03/tax_refund_2_.58ad2540b4575.6052459f2d9f1.png)
Important Information for Parents Regarding the American Rescue Plan Act
The recent aid package included new stimulus payment amounts including an increased amount for each dependent. Additionally, there is relief for families facing unemployment by allowing an exclusion for unemployment income claimed on your tax return.