FAQs Updated for Child Tax Credit
The Internal Revenue Service says it has updated the online frequently asked questions (FAQs) for the 2021 Child Tax Credit and the Advance Child Tax Credit.…
Taxpayer Advocate Highlights 2021 Delays for Processing and Refunds
“The most challenging year taxpayers and tax professionals have ever experienced." With that short sentence, National Taxpayer Advocate Erin Collins sums up her assessment of the calendar year 2021 and its effect on the Internal Revenue Service.…
Read more about Taxpayer Advocate Highlights 2021 Delays for Processing and Refunds
FAQs Updated on Unemployment Compensation, Recovery Rebate Credit
The Internal Revenue Service is updating its Frequently Asked Questions to reflect changes on two fronts important to a lot of taxpayers.…
Read more about FAQs Updated on Unemployment Compensation, Recovery Rebate Credit
IRS Announces Start of Filing Season
It’s official: The Internal Revenue Service says it will start accepting tax year 2021 returns on January 24, kicking off tax season.…
IRS Issues Reminder for Estimated Tax Payment Deadline
A reminder from the Internal Revenue Service might be called a taxpayer’s best last chance. Those taxpayers who found they may have failed to hold out enough from their income to cover their federal income taxes still have one more shot at avoiding a big surprise tax bill and escaping a possible penalty.…
Read more about IRS Issues Reminder for Estimated Tax Payment Deadline
Form 1024 Revised for Electronic Filing
No doubt about it: The future for the IRS is electronic. The agency is putting more and more formerly paper-only functions on its electronic platform, speeding up transmission and improving service as a result.…
Tax Relief Coming to Colorado Wildfire Victims
Victims of the New Year wildfires in Colorado now have one less thing to worry about. The Internal Revenue Service has given individual and business taxpayers affected by the disaster until May 16 to…
Read more about Tax Relief Coming to Colorado Wildfire Victims
Deferred Social Security Payments Due in 2022
Taxpayers who took advantage of some tax-relief measures during the dark days of the COVID-19 pandemic are being reminded that’s it’s now time to pay up.…
Read more about Deferred Social Security Payments Due in 2022
IRS Wants Taxpayers to Save ACTC and EIP Letters
If taxpayers get a letter from the Internal Revenue Service relating to either the Advance Child Tax Credit or Economic Impact Payments, they need to file the letters for safekeeping.…
Read more about IRS Wants Taxpayers to Save ACTC and EIP Letters
Why Host Drake Software with Rightworks?
In November 2021, Drake Software and Rightworks collaborated on a three-part series highlighting different software solutions available to tax professionals.…
