by taxPRO Websites Staff | Mar 31, 2021 | Tax Tips and News
Taxpayers are getting more time to meet some tax deadlines that would normally fall on April 15, such as making IRA contributions and filling certain claims for a refund. The deadline shift is outlined in Notice 2021-21, which pushes those deadlines to May 17, 2021....
by taxPRO Websites Staff | Mar 31, 2021 | Tax Tips and News
Students and their higher-education institutions are getting a clearer picture of how to report pandemic-related emergency financial aid grants. Or not. The big news is that the IRS considers aid to students due to the COVID-19 pandemic to be non-taxable. The Internal...
by taxPRO Websites Staff | Mar 29, 2021 | Tax Tips and News
A new announcement from the Internal Revenue Service should come as welcome news to front-line health care workers nationwide. Announcement 2021-7 clarifies existing language to assure taxpayers that the purchase of personal protective equipment (PPE) can be...
by taxPRO Websites Staff | Mar 26, 2021 | Tax Tips and News
The CARES Act was the first of three major COVID-relief packages that have infused the US economy with stimulus funds provided for items like direct payments, new and expanded tax credits, forgivable business loan programs, and extended unemployment insurance....
by taxPRO Websites Staff | Mar 25, 2021 | Tax Tips and News
It’s easy to imagine that early bird tax filers are punctual in everything they do, maybe even embodying that Ben Franklin wisdom about bedtimes. While they may be the salt of the earth—generally making filing season just a little easier for tax pros—some may get a...
