IRS Says December ACTC Payments Coming
As the phrase goes, all good things come to an end, and the Internal Revenue Service is saying just that about the advance payments of the Child Tax Credit, or CTC.…
IRS, Nonprofits Remind Taxpayers About Deduction
The IRS, the Independent Sector, and the National Council of Nonprofits are this week reminding non-itemizers that charitable contributions made this year may qualify for a tax deduction. This temporary rule comes from a provision in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was designed to help cash-strapped nonprofits during the pandemic.…
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2020 Recovery Rebate Credit FAQs Updated
The Internal Revenue Service has updated its online information with the aim of helping individual taxpayers qualify for Economic Impact Payments (EIPs) if they didn’t already get one.…
IRS: Don't Forget the Required Minimum Distributions Deadline
While most Americans have their eyes firmly on the Christmas holidays, many US retirees have another milestone to consider.…
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Tips for Protecting Your EFIN
Tax professionals have been in the crosshairs of cybercriminals for some time now, and it’s only getting worse. Now, the crooks are casting their nets, not only for client data, but to snare vital data of the tax pros themselves.…
IP PINs Make Tax Returns More Secure
An IP PIN is a six-digit number known only to the taxpayer and the IRS, assigned to eligible taxpayers to help stop the misuse of their Social Security number or Individual Taxpayer Identification Number (ITIN). Identity thieves file fake income tax returns using these numbers to claim fraudulent refunds.…
Don't Fall for Fake Charities
With the passage of Thanksgiving, Americans are shifting into gifting mode. For many, that means giving a holiday monetary gift to a well-deserving charity of one sort or another.…
IRS Issues ACTC Deadline Reminder
The Internal Revenue Service is making a pitch about the Advance Child Tax Credit payments that smacks of the spiel for sale pricing from used car dealers: “When it’s gone, it’s gone!”…
Tax Relief Expanded in Mississippi
In October, we told readers about IRS relief measures that applied to some 19 Mississippi counties impacted by Hurricane Ida. That relief has now been expanded to add 63 other counties, covering the…
IRS Announces Increased Transcript Limit for Tax Pros
The Internal Revenue Service says tax professionals spoke—and the agency listened. After getting comments from tax pros, the IRS has now increased the number of transcripts a professional preparer can get on any one client.…
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