IRS Will Issue Unemployment Refunds in May
Authored by the Internal Revenue Service | March 31, 2021To help taxpayers, the Internal Revenue Service will take steps to automatically refund money this spring and summer to people who...
02 April, 2021
2021 Tag
Restaurant Revitalization Fund (RRF) Update
Much has been written regarding the Restaurant Revitalization Fund (RRF) already. For details on the RRF program please read our previous article. The following provides several important updates on the...
26 March, 2021
Economic Impact Payments Issued This Week
On March 22, 2021, The Internal Revenue Service announced that the next batch of Economic Impact Payments will be issued to taxpayers this week, with many of these coming by...
23 March, 2021
Claim Your Economic Impact Payments on Your 2020 Tax Return
One of the more tax-troubling issues this year is the distribution of what Congress refers to as the recovery rebates. You may know these payments as the Economic Impact Payments...
22 March, 2021
Update on 1040 Virtual Currency Question
On the 2020 Form 1040 we are required to answer this question: "At any time during [the prior year], did you receive, sell, send, exchange, or otherwise acquire any financial...
22 March, 2021
Big Increase in Child Tax Credit For 2021
An increased child tax credit is part of the March 2021 American Rescue Plan Act stimulus package. Even though the benefit of a tax credit traditionally isn’t available until after...
18 March, 2021
Are Your Unemployment Benefits Taxable?
Unemployment Benefits We've seen numerous changes to unemployment benefits throughout 2020 and 2021. Now, President Biden’s American Rescue Plan that Congress enacted in March of 2021 has extended the additional $300...
18 March, 2021
Another Round of Stimulus Payments Approved by Congress
Article Highlights: • Economic Impact Payments • High-Income Taxpayer Phaseout • Reconciliation • Dependents • Decedents • Social Security Number Requirements • Non-Filers and IRS Information Site • Should I file my tax return now or laterThe American...
11 March, 2021