by Lisa Monk & Associates LLC | Jan 13, 2021 | Tax Tips and News
The Internal Revenue Service is expanding just who is eligible for an Identity Protection PIN. In fact, the IRS has thrown open the gates and now says any taxpayer who can verify their identity can now get an IP PIN. The IP PIN is a six-digit code that is known only...
by Lisa Monk & Associates LLC | Jan 12, 2021 | Tax Tips and News
It’s a busy time for the Treasury Department and the Internal Revenue Service. They’re sending out some 8 million second-round Economic Impact Payments (EIPs) by prepaid debit card. The debit cards follow millions of EIPs already made by direct deposit and the ongoing...
by Lisa Monk & Associates LLC | Jan 9, 2021 | Tax Tips and News
The Internal Revenue Service this afternoon announced it was working with the tax and financial industry to redirect Economic Impact Payments that were direct deposited in closed, inactive, or “unfamiliar” bank accounts. “Some recipients may have had their payment...
by Lisa Monk & Associates LLC | Jan 8, 2021 | Tax Tips and News
The Internal Revenue Service has eased the cost of participation in the Paycheck Protection Program (PPP) by allowing deductions for the payment of eligible expenses. The deductions are outlined in guidance issued by the IRS, and are allowed when such payments would...
by Lisa Monk & Associates LLC | Jan 7, 2021 | Tax Tips and News
The Internal Revenue Service is reminding tax professionals and taxpayers that employers need to file Form W-2 and other wage statements by Feb. 1, 2021. The February deadline is also the date employers must get wage statements to their employees. The timetable is set...
