February 26, 2021
Good news for small business owners! The Consolidated Appropriations Act, signed into law on December 27, 2020, has expanded and clarified CARES Act benefits for employers.
February 25, 2021
Amid recent requests by the AICPA and National Association of Tax Professionals that the IRS extend the 2021 income tax filing season, millions of Americans are still challenged by a backlog at the IRS of income tax returns from last year.
February 24, 2021
NATP recently surveyed tax pros to find out what their preference for the 2021 Tax Day would be. More than 70% of respondents indicated their support of a filing date later than the current April 15.
February 24, 2021
Though the IRS has emphasized that taxpayers and tax professionals should assume that the deadline will remain, it has also been reported that the IRS will not commit to keeping an April 15 filing deadline if Congress approves another round of economic...
February 24, 2021
The American Institute of CPAs (AICPA) submitted comments to the Internal Revenue Service (IRS) to address the need for guidance concerning adjustments attributable to conversions from S corporations to C corporations under section 481(d) of the TCJA...
February 22, 2021
The tax relief postpones various tax filing and payment deadlines that occurred starting on Feb. 11. As a result, affected individuals and businesses will have until June 15, 2021, to file returns and pay any taxes that were originally due during this ...
February 22, 2021
The U.S. Supreme Court put a new New York grand jury on the brink of getting eight years of Donald Trump’s tax returns and other financial records, ending months of delay by rejecting his bid to keep the information private.
February 19, 2021
Americans 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, according to the IRS.
February 9, 2021
House Democrats are proposing to limit the next round of Covid-19 relief payments to households earning less than $200,000, after criticism that President Joe Biden’s $1.9 trillion stimulus package would benefit the rich.
February 3, 2021
Are you or someone in your family—say, a child who recently graduated from college—embarking on a new career? It’s not too early to start saving for retirement. In fact, it’s generally recommended that you begin retirement planning once you’re ...
January 19, 2021
This chart shows an estimated date for when you may receive your refund: The Covid stimulus payments you received in 2020 (and the second check whether you received it in 2020 or 2021) will NOT decrease your tax refund.
January 18, 2021
This chart shows a projected timeline for when a taxpayer is likely to receive their refund, based on the information we have now, and based on previous years. If your IRS income tax refund is delayed, ask your tax professional...