by | Jun 25, 2020 | Tax Tips and News
The Internal Revenue Service is giving tornado, thunderstorm and flooding victims in three states extra time to file their various tax returns and make tax payments. Severe storms raked parts of Mississippi, Tennessee and South Carolina in April; those areas have...
by | Jun 23, 2020 | Tax Tips and News
The COVID-19 pandemic has forced millions of Americans to take extraordinary steps just to stay afloat financially. For those taxpayers who might want to take distributions against their retirement plans or even borrow against their plans, the IRS has announced new...
by | Jun 18, 2020 | Tax Tips and News
Tax professionals planning to use the IRS Modernized e-File (MeF) system this weekend to file a stack of returns for their clients may have to send them to the Internal Revenue Service at a different time. The IRS yesterday used one of its QuickAlerts to announce...
by | Jun 17, 2020 | Tax Tips and News
A new report from the Treasury Inspector General for Tax Administration (TIGTA) finds that a number of tax preparers are themselves classified as non-compliant, but in many cases, the Internal Revenue Service has not acted to recoup the outstanding tax due. The audit...
by | Jun 16, 2020 | Tax Tips and News
Will PPP borrowers be able to receive partial loan forgiveness? Before the ink dried on the latest COVID-relief legislation, tax pros and small business owners alike had questions about the Paycheck Protection Program Flexibility Act. Despite being designed to expand...
by | Jun 16, 2020 | Tax Tips and News
An unforeseen consequence of the COVID-19 pandemic is pushing the IRS due date for some payments back a bit. The Internal Revenue Service is delaying the due dates on some of its paper balance-due notices because the IRS wasn’t able to mail the preprinted notices due...
