All Taxpayers Now Eligible for Identity Protection PINs

Bob Williams - January 12, 2021

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.…

Treasury Issuing Millions of EIPs by Debit Card in Second Round

Bob Williams - January 11, 2021

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.…

IRS, Tax Industry Working to Redirect Some EIP Direct Deposits

Ryan Norton - January 08, 2021

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.…

Eligible PPP Expenses Are Now Deductible

Bob Williams - January 07, 2021

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.…

Annual Report Finds IRS Rose to Challenges of an “Unprecedented” Year

Bob Williams - January 06, 2021

Ask most people what they thought of 2020, and the response is likely to be something like, “disastrous,” “catastrophic” — even “unprecedented.”…

IRS Reminds Employers of February Wage Statement Deadline

Bob Williams - January 05, 2021

The Internal Revenue Service is reminding tax professionals and taxpayers that employers need to file Form W-2 and other wage statements by Feb. 1, 2021.…