by sreamercpa | Aug 30, 2021 | IRS
September is National Preparedness Month. With the height of hurricane season fast approaching and the ongoing threat of wildfires in some parts of the country, the Internal Revenue Service reminds everyone to develop an emergency preparedness plan. All taxpayers,...
by sreamercpa | Jul 12, 2021 | child-tax-payments, IRS
The first monthly payments of the expanded and newly-advanceable Child Tax Credit from the American Rescue Plan will be made starting July 15. Most families will begin receiving monthly payments without any additional action. Eligible families will receive a payment...
by sreamercpa | Jun 23, 2021 | IRS
The IRS has opened an online site to enable taxpayers to unenroll from receiving advance payments of the 2021 child tax credit (CTC). The new “Child Tax Credit Update Portal” allows parents to view their eligibility, view their expected CTC advance payments, and, if...
by sreamercpa | Mar 18, 2021 | accounting-tax, IRS
Tax Day for individuals extended to May 17: Treasury, IRS extend filing and payment deadline WASHINGTON — The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be...
by sreamercpa | Jan 25, 2021 | IRS
One new provision of the CARES Act passed this past April allows taxpayers to claim a deduction for up to $300 for charitable donations, even if they are taking the standard deduction. However, the requirement for contemporaneous acknowledgement from the donee...
by sreamercpa | Jan 18, 2021 | accounting-tax, IRS
One consequence of the late passing to the new act is the potential for the delaying of the opening of tax filing season. Normally the IRS begins to accept electronically filed tax returns around January 27. However, with the changes in the new act, it is possible...
