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Monday, October 4, 2021

Higher bond yields and a legislative stalemate in Washington, D.C., added up to losses for the week.The Dow Jones Industrial Average declined 1.36%, while the Standard & Poor’s 500 lost 2.21%. The Nasdaq Composite index fell...

Monday, June 1, 2020

In response to the COVID-19 (coronavirus) pandemic and the National Emergency declaration, the IRS and U.S. Treasury moved the deadline for filing 2019 federal tax returns and paying any tax due from April 15 to July 15, 2020. The...

Monday, June 1, 2020

The IRS is continuing to send COVID-19 Economic Impact Payments (EIPs, also called stimulus payments) to millions of Americans weekly. The vast majority of eligible recipients will get their EIPs automatically without taking any action...

Monday, June 1, 2020

Throughout April and May, the IRS delivered well over 100 million Economic Impact Payments (EIPs, also called stimulus payments) to Americans. It was widely publicized that many individual taxpayers would receive EIPs in the amount of...

Monday, June 1, 2020

The impacts of the COVID-19 (coronavirus) pandemic have caused economic hardship and uncertainty for millions of Americans. Unfortunately, scammers constantly seek new ways to target those in need. The IRS has therefore warned all...

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Monday, June 1, 2020

June 10 Employees Who Work for Tips – If you received $20 or more in tips during May, report them to your employer. You can use Form 4070. 15 Employers – Nonpayroll withholding. If the monthly deposit rule applies, deposit...

Sunday, March 1, 2020

The 2019 SECURE Act raised the age at which those with qualifying retirement plans must begin taking annual required minimum distributions (RMDs) from 70 ½ to 72 years. If you turned 70 ½ in 2019, you must still take your...

Sunday, March 1, 2020

The Tax Cuts and Jobs Act (TCJA) of 2017 placed new restrictions on business deductions for meals and entertainment expenses associated with meeting current or potential clients, customers, consultants and other business contacts. In...

Sunday, March 1, 2020

Identity theft is a constant threat in today’s world, and the threat only grows during tax season. As part of its “Taxes + Security = Together” campaign, the IRS recently published a list of recommendations to help...

Sunday, March 1, 2020

The US Treasury operates under a Taxpayer Bill of Rights to ensure that the IRS applies and enforces the US Tax Code in a fair, impartial manner. These rights protect you during all your interactions with the IRS, including filing...

Sunday, March 1, 2020

March 02 Farmers and Fishermen – File your 2019 income tax return (Form 1040 or Form 1040-SR) and pay any tax due. However, you have until April 15 to file if you paid your 2019 estimated tax by January 15, 2020. 02 Health...