Tax Blog

The Internal Revenue Service continues to send out Economic Impact Payments (EIPs), aimed at helping Americans though these tough economic times.… Read more about IRS Wants Help Raising Awareness of EIP Eligibility for Homeless Americans (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The Internal Revenue Service is once again warning taxpayers who are involved in abusive micro-captive insurance schemes that they need to get out of those arrangements—and quickly.… Read more about IRS Issues Another Abusive Micro-Captive Arrangement Warning (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

While the deadline for filing federal income taxes has been pushed back to May 15 because of the COVID-19 pandemic, those who file an annual Report of Foreign Bank and Financial Accounts (FBAR) still face their same April 15, 2021 due date.… Read more about FBAR Deadline is Still April 15 (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The American Rescue Plan Act brought a third round of Economic Impact Payment and plenty of changes to tax credits, including how the agency approaches the Premium Tax Credit (PTC).… Read more about Taxpayers Don’t Have to Repay Excess APTC for TY2020 (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

The IRS has unveiled guidance that temporarily throws open the gates to recouping 100 percent of the expense for certain food and beverage purchases. The new rules for this business deduction went into effect on Jan.1 of this year.… Read more about Guidance Explains Temporary Increase in Food and Beverage Deduction (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

Some taxpayers are getting a little something extra this tax season, along with claiming the 2020 Recovery Rebate Credit. The little extra is a letter from the Internal Revenue Service because some taxpayers may not be getting the amounts from the RRC they expected.… Read more about Some Taxpayers in for an RRC Surprise (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…