by | Nov 18, 2020 | Tax Tips and News
Fiscal Year 2020 was a very busy—and productive—year for the IRS’ Criminal Investigations unit. The just-released annual report for CI Division touts the unit’s identification of more than $10 billion in tax fraud and other financial crimes, despite the limitations of...
by | Nov 18, 2020 | Tax Tips and News
With 2020’s extended tax deadlines due to the coronavirus pandemic, it seems like we just wrapped up the previous tax season. But believe it or not, the next filing season kicks off Jan. 1, 2021. The Internal Revenue Service is encouraging taxpayers to begin...
by | Nov 16, 2020 | Tax Tips and News
After Dec. 12, business tax transcripts will soon be a little less informative—for good reason. The IRS will start masking sensitive data on the transcripts to protect businesses from identity theft beginning Dec. 13. The announcement from the IRS provides 30 days for...
by | Nov 13, 2020 | Tax Tips and News
Some people managed to register for their $1,200 Economic Impact Payment (EIP) but just didn’t have the necessary information in-hand to also sign up for the $500 payment for qualifying children. Now the IRS says there’s a way to get that missing payment. The Internal...
by | Nov 12, 2020 | Tax Tips and News
A new notice from the Internal Revenue Service reveals some new rules that are expected to be included in upcoming proposed regulations. Notice 2020-75 spells out the proposed regulations clarifying that state and local income taxes imposed on and paid by a...
