by Lisa Monk & Associates LLC | Mar 16, 2021 | Tax Tips and News
It won’t be long before Americans start seeing the third round of Economic Impact Payments—also known as EIP3—showing up in their bank accounts and mailboxes. The Internal Revenue Service is sending direct deposit payments first; some recipients could see their...
by Lisa Monk & Associates LLC | Mar 16, 2021 | Tax Tips and News
Taxpayers, no matter their age, may be able to claim a deduction on their 2020 tax returns for contributions to their Individual Retirement Arrangement (IRA) if they make them by April 15. Contributions to a traditional IRA are usually tax-deductible, and...
by Lisa Monk & Associates LLC | Mar 13, 2021 | Tax Tips and News
President Biden signed into law the $1.9 trillion American Rescue Plan Act of 2021, which includes a number of tax-related provisions that lawmakers say will help struggling Americans weather the pandemic recession. As with any legislation that affects taxes, that...
by Lisa Monk & Associates LLC | Mar 12, 2021 | Tax Tips and News
The Internal Revenue Service yesterday released a COVID Tax Tip highlighting guidance for employers who deferred payment of their employee’s 2020 Social Security tax. Initially described by legislators as a “payroll tax holiday,” the agency reminds participating...
by Lisa Monk & Associates LLC | Mar 11, 2021 | Tax Tips and News
The Internal Revenue Service has a number of resources and accessibility services available to taxpayers who need them. The IRS’s Alternative Media Center has tax-related content available in several formats for use with assistive technology. Available services...
