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Treasury issues millions of second Economic Impact Payments by debit card

Starting this week, the Treasury Department and the Internal Revenue Service are sending approximately 8 million second Economic Impact Payments (EIPs) by prepaid debit card. These EIP Cards follow the millions of payments already made by direct deposit and the ongoing mailing of paper checks that are delivering the second round of Economic Impact Payments [...]

By |2021-01-07T14:38:44-08:00January 7th, 2021|Blog|Comments Off on Treasury issues millions of second Economic Impact Payments by debit card

Treasury and IRS begin delivering second round of Economic Impact Payments to millions of Americans

Internal Revenue Service and the Treasury Department will begin delivering a second round of Economic Impact Payments as part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 to millions of Americans who received the first round of payments earlier this year.The initial direct deposit payments may begin arriving as early as tonight [...]

By |2020-12-30T09:21:48-08:00December 30th, 2020|Blog|Comments Off on Treasury and IRS begin delivering second round of Economic Impact Payments to millions of Americans

IRS to employers: Remember Feb. 1, 2021 deadline for Form W-2, other wage statements

This is important enough to blog about once again since failing to file the W-2s will cause significant penalties. The Internal Revenue Service reminds employers that they must file Form W-2 and other wage statements by Feb. 1, 2021, to avoid penalties and help the IRS prevent fraud. A 2015 law made it a permanent [...]

By |2020-12-29T10:03:05-08:00December 29th, 2020|Blog|Comments Off on IRS to employers: Remember Feb. 1, 2021 deadline for Form W-2, other wage statements

New things taxpayers should consider as they get ready to file taxes in 2021

When people get ready to file their federal tax return there are new things to consider when it comes to which credits to claim and what deductions to take. These things can affect the size of any refund the taxpayer may receive. Here are some new key things people should consider when filing their 2020 [...]

By |2020-12-17T09:59:21-08:00December 17th, 2020|Blog|Comments Off on New things taxpayers should consider as they get ready to file taxes in 2021

Every taxpayer has the right to challenge the IRS’s position and be heard

Taxpayers have the right to challenge the IRS’s position and be heard. This is part of Taxpayer Bill of Rights, which clearly outlines the fundamental rights every taxpayer has when working with the IRS. Taxpayers have the right to: Raise objections. Provide additional documentation in response to formal or proposed IRS actions. Expect the IRS [...]

By |2020-12-16T09:05:58-08:00December 16th, 2020|Blog|Comments Off on Every taxpayer has the right to challenge the IRS’s position and be heard

Identity Protection PIN Program will soon be available to taxpayers nationwide

In January, the IRS Identity Protection PIN Opt-In Program will be expanded to all taxpayers who can properly verify their identity. An identity pretention PIN is a six-digit number assigned to eligible taxpayers to help prevent their Social Security number from being used to file fraudulent federal income tax returns. This number helps the IRS [...]

By |2020-12-14T10:40:27-08:00December 14th, 2020|Blog|Comments Off on Identity Protection PIN Program will soon be available to taxpayers nationwide

IRS warns people about a COVID-related text message scam

The IRS and its Security Summit partners are warning people to be aware of a new text message scam. The thief’s goal is to trick people into revealing bank account information under the guise of receiving the $1,200 Economic Impact Payment.Here’s how this scam worksPeople get a text message saying they have “received a direct [...]

By |2020-12-08T10:06:24-08:00December 8th, 2020|Blog|Comments Off on IRS warns people about a COVID-related text message scam

Special $300 tax deduction helps most people give to charity this year – even if they don’t itemize

The Internal Revenue Service today reminded taxpayers of a special new provision that will allow more people to easily deduct up to $300 in donations to qualifying charities this year. Following special tax law changes made earlier this year, cash donations of up to $300 made before Dec. 31, 2020, are now deductible when people [...]

By |2020-12-07T10:09:22-08:00December 7th, 2020|Blog|Comments Off on Special $300 tax deduction helps most people give to charity this year – even if they don’t itemize

Tips to help people stay safe online

These days most people are spending more time at home and a lot more time online. Whether people are online for work, school, a virtual gathering or shopping, online security is more important than ever. Everyone should be mindful of risks they may encounter when they share devices, shop online and interact on social media. [...]

By |2020-12-02T10:20:14-08:00December 2nd, 2020|Blog|Comments Off on Tips to help people stay safe online

Here’s how taxpayers can check if their charitable donation is tax deductible

The arrival of the holiday season is when many people think about how they can give back. Often taxpayers want to donate to a charity. The IRS has a tool that can help people figure out if giving to their favorite cause will also give them the gift of a tax deduction. Tax Exempt Organization [...]

By |2020-12-01T10:17:26-08:00December 1st, 2020|Blog|Comments Off on Here’s how taxpayers can check if their charitable donation is tax deductible
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