Unemployment Not Taxable?
The Senate version of the $1.9 trillion Covid relief bill includes a tax break on unemployment benefits wherein the first $10,200 unemployment compensation a person receives in jobless benefits are not subject to federal income [...]
Tips to help take the stress out of tax season
Every filing season comes with its own set of challenges and 2021 is no different. The IRS wants taxpayers get the information they need as quickly as possible. Taxpayers can keep in mind these tips [...]
IRS Online Account can help taxpayers get ready to file their tax return
Taxpayers can securely access and view their IRS tax information anytime through their individual online account. They can see important information when preparing to file their tax return or following up on balances or notices. [...]
IRS provides guidance for employers claiming the Employee Retention Credit for 2020, including eligibility rules for PPP borrowers
The Internal Revenue Service today issued guidance for employers claiming the employee retention credit under the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), as modified by the Taxpayer Certainty and Disaster Tax Relief [...]
People should be on the lookout for identity theft involving unemployment benefits
The IRS urges taxpayers whose identities may have been used by thieves to steal unemployment benefits to file a tax return claiming only the income they actually received. In 2020, millions of taxpayers were affected [...]