by Lisa Monk & Associates LLC | Apr 24, 2020 | Tax Tips and News
The coronavirus pandemic has thrown the 2020 income tax filing season for a loop; taxpayers and tax preparers have been given extra time to file returns, but the new deadline day of July 15 apparently isn’t helping some clients make better decisions. Accounting Today...
by Lisa Monk & Associates LLC | Apr 23, 2020 | Tax Tips and News
The Internal Revenue Service yesterday published a release outlining tax-relief measures that the agency is taking for individuals and businesses whose tax residency could be affected by coronavirus-related travel restrictions. This announcement is the agency’s latest...
by Lisa Monk & Associates LLC | Apr 22, 2020 | Tax Tips and News
SSA and RRB beneficiaries with dependents who don’t normally file a tax return need to report eligible children to the IRS by noon EST tomorrow to quickly get an additional $500 per qualifying child in their Economic Impact Payment. Since Economic Impact Payments were...
by Lisa Monk & Associates LLC | Apr 22, 2020 | Tax Tips and News
A recent audit is pointing up the need for additional attention from the IRS on just how taxes are collected from an emerging sector of the economy: the marijuana industry. Ten states—Alaska, California, Colorado, Maine, Massachusetts, Michigan, Nevada, Oregon,...
by Lisa Monk & Associates LLC | Apr 21, 2020 | Tax Tips and News
Paid tax return professionals may soon have to pay $21 to apply for a PTIN. In the “Don’t have a PTIN and need to obtain one?” section of the “PTIN Requirements for Tax Return Preparers” page on IRS.gov, there is a key phrase that may be about to change: “There is no...
