2021… Deductibility of PPP-Related Expenses 26 Jan 202126 Jan 2021 One of the biggest tax issues of 2020 has been clarified with the signing of the Consolidated Appropriations Act, 2021, (CAA 2021), and that was whether expenses that are normally…
2021… IRS Tax Tip: Most taxpayers can deduct up to $300 in charitable contributions without itemizing deductions 4 Jan 202127 Dec 2020 COVID Tax Tip 2020-170, December 14, 2020 Following tax law changes, cash donations of up to $300 made this year by December 31, 2020 are now deductible without having to…
2020… IRS Tax Tip: IRS warns people about a COVID-related text message scam 28 Dec 202027 Dec 2020 COVID Tax Tip 2020-167, December 8, 2020 The IRS and it's Security Summit partners are warning people to be aware of a new text message scam. The thief's goal is to trick…
2020… IRS Tax Tips: Common errors businesses should avoid when claiming employer tax credits 4 Dec 20203 Dec 2020 COVID Tax Tip 2020-157, November 18, 2020 Employers who are filing Form 941, Employer's Quarterly Federal Tax Return and claiming an employer tax credit should read the instructions carefully and take their…
2020… IRS Tax Tips: Taxpayer Relief Initiative aims to help those financially affected by COVID-19 2 Dec 20201 Dec 2020 COVID Tax Tip 2020-158, November 19, 2020 The IRS reviewed its collection activities to see how it could provide relief for taxpayers who owe taxes but are struggling financially because…