Tax Tips and News

Today is the Deadline for Making a TY 2020 Fourth Quarter Estimated Tax Payment

The Internal Revenue Service is reminding taxpayers that today—January 15, 2021—is the deadline for making a tax year 2020 fourth quarter estimated tax payment. The goal of the press release is to prevent taxpayers who did not pay enough tax throughout 2020 from owing tax or a penalty during filing season.… Read more about Today is the Deadline for Making a TY 2020 Fourth Quarter Estimated Tax Payment (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

IRS Report Recommends Improvements for the “Taxpayer Experience”

The Internal Revenue Service submitted the Taxpayer First Act Report to Congressional leaders this week. As the name suggests, this 253-page document is required by the 2019 Taxpayer First Act—and it’s an essential step in determining how the IRS will improve the service provided to taxpayers.… Read more about IRS Report Recommends Improvements for the “Taxpayer Experience” (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

All Taxpayers Now Eligible for Identity Protection PINs

The Internal Revenue Service is expanding just who is eligible for an Identity Protection PIN. In fact, the IRS has thrown open the gates and now says any taxpayer who can verify their identity can now get an IP PIN.… Read more about All Taxpayers Now Eligible for Identity Protection PINs (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

Treasury Issuing Millions of EIPs by Debit Card in Second Round

It’s a busy time for the Treasury Department and the Internal Revenue Service. They’re sending out some 8 million second-round Economic Impact Payments (EIPs) by prepaid debit card.… Read more about Treasury Issuing Millions of EIPs by Debit Card in Second Round (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

IRS, Tax Industry Working to Redirect Some EIP Direct Deposits

The Internal Revenue Service this afternoon announced it was working with the tax and financial industry to redirect Economic Impact Payments that were direct deposited in closed, inactive, or “unfamiliar” bank accounts.… Read more about IRS, Tax Industry Working to Redirect Some EIP Direct Deposits (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

Eligible PPP Expenses Are Now Deductible

The Internal Revenue Service has eased the cost of participation in the Paycheck Protection Program (PPP) by allowing deductions for the payment of eligible expenses.… Read more about Eligible PPP Expenses Are Now Deductible (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

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