IMPORTANT 1099-NEC (Prior 1099-MISC) deadline is January 31st.
Don’t miss the date you can face unnecessary penalties. Payers of non-employee compensation will now use Form 1099-NEC to report...
The IRS has already started sending out second stimulus checks.
If you’re asking yourself “where’s my stimulus check,” the IRS has an online tool that will let you track your...
A second stimulus check is finally on its way!
A second stimulus check is finally on its way! After months of back-and-forth, Congress recently passed a new stimulus package...
PPP Loans Updates
IRS Clarification: PPP Loan Covered Expenses Only Deductible If Loan Not Forgiven As federal, state, and local governments pass legislation...
Partnerships on the Radar
Audits of more partnership returns are on the IRS’s radar. In 2019, the Service audited only 0.2% of partnerships, and...
EIDL Loans Updates
If you applied for the EIDL loan please be aware of your email or postal mail, as the SBA is...
We’re still getting lots of questions on economic impact payments
Here is a recent one: I claimed my 21-year-old son as a dependent on my 2019 Form 1040, but I...
IRS is accepting electronically filed amended returns for the 2019 tax year
Individuals can use tax software to e-file Form 1040-X to amend a 2019 1040 or 1040-SR that was filed electronically....
Got a Letter from the IRS saying you owe taxes?
Check if there’s a barcode on it. The Service is adding a QR bar code to its CP14 balance due...
Beware of scam text messages concerning economic impact payments
IRS warns about the latest scheme from fraudsters to steal your financial information. The text message reads as follows: “You...
