Taxes February 6, 2026
IRS Issues Proposed Rules on Clean Fuel Tax Credit
The Treasury Department and the IRS released proposed regulations Feb. 3 on the clean fuel production credit under the One Big Beautiful Bill Act.
March 31, 2021
IRS Says Taxpayers Should Not File Amended Tax Returns Due to Stimulus Law
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.
March 31, 2021
College Students Warned of IRS Scam
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 ...
March 31, 2021
Emergency Financial Aid Grants to College Students are Not Taxable, Says IRS
The Internal Revenue Service has issued frequently asked questions on how students and higher education institutions should report pandemic-related emergency financial aid grants.
March 30, 2021
The Tax Blotter – March 31, 2021
The Tax Blotter is a round-up of recent income tax news.
March 30, 2021
Where’s My Stimulus Payment? IRS Says Social Security and Other Program Recipients Will Receive Theirs Soon
Payments will begin to be issued this weekend to Social Security recipients and other federal beneficiaries who do not normally file a tax return, with the projection that the majority of these payments would be sent electronically and received on April 7
March 29, 2021
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 ...
March 29, 2021
With Ability to Work Remotely, More New Yorkers Migrating to Sunny South Florida
Spurred by high taxes, out of state newcomers are settling down in South Florida as employers allow — or even encourage — remote work, according to various real estate agents in the tri-county area. Most of the newcomers are heading down from the northeas
March 29, 2021
Another Look at the Tax Effects of the American Rescue Plan of 2021
The good news is the first $10,200 that most taxpayers received in unemployment benefits of up to $10,200 are not taxable for 2020. If you have already filed your tax return for 2020 the IRS is asking you to not file an amendment, as they will take ...
March 29, 2021
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 ...
March 29, 2021
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.
March 28, 2021
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.
March 28, 2021
AICPA Thanks Congress for PPP Extension
The additional 60 days provided by the PPP Extension Act will greatly help small businesses, non-profits and the CPAs that serve them complete existing and file new PPP loan applications. AICPA believes that this extension gives the SBA time to update ..