IRS Issues Final Regulations on Meals and Entertainment Deductions
(authored by RSM US LLP) The final regulations issued by the IRS provide guidance for meal and entertainment deductions under section 274....
01 October, 2020
tax tips Tag
Will I Receive a Tax Refund Interest Payment?
Authored by the Internal Revenue Service: IR-2020-183, August 18, 2020This week the IRS will send interest payments to about 13.9 million individual taxpayers who timely filed their 2019 federal income...
04 September, 2020
Guidance on Employee Tax Deferral
President Trump issued a Presidential Memorandum, that directs the Treasury Secretary to use his authority to defer the withholding, deposit and payment of employees’ portions of Social Security taxes from...
04 September, 2020
Unemployment is Taxable: Withhold Now to Avoid Tax-Time Surprise
Authored by the Internal Revenue Service: IR-2020-185, August 18, 2020With millions of Americans now receiving taxable unemployment compensation, many of them for the first time, the Internal Revenue Service today...
25 August, 2020
IRS Payment Notices and Pending Check Payment
Are you waiting for the IRS to cash your check? Due to COVID-19 the IRS has a backlog of unopened mail. Here's what you need to know: Pending Check Payments and...
24 August, 2020
Tax Relief for Utah Earthquake Victims
The IRS announced residents of Utah will qualify for tax relief due to the earthquakes and aftershocks that took place on or after 3/18/2020. This relief will automatically be applied...
06 August, 2020
New Twist Added to the IRA-to-Charity Provision
Ever since 2006, individuals age 70½ or older have been able to transfer up to $100,000 annually from their IRAs to qualified charities. These transfers are referred to as qualified...
29 July, 2020
Tax Breaks for Hiring Your Children in the Family Business
With jobs at a premium during the COVID-19 pandemic, you might consider hiring your children to help out in your business. Financially, it makes more sense to keep the family...
27 July, 2020