The coronavirus relief bill passed by Congress includes many tax provisions, including the extension of various expiring provisions, extensions and expansions of certain earlier pandemic tax relief provisions, and much more.
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COVID-19 Relief Bill - Consolidated Appropriations Act
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The Home Office Deduction 2020 - Coronavirus
One of the significant social side effects of the Coronavirus pandemic is a wave of people suddenly working from home. You could be wondering if you can get a nice tax break under the Home Office Deduction. There have been so many tax changes due to COVID-19. Did the CARES Act change any of the rules surrounding the home office deduction?
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IRS makes it easier to set up payment agreements; offers other relief to taxpayers struggling with tax debts
Original Article Source Credits: IRS , https://www.irs.gov/
Article Written By: NA
Original Article Posted on: November 4, 2020
Link to Original Article: https://www.irs.gov/newsroom/irs-makes-it-easier-to-set-up-payment-agreements-offers-other-relief-to-taxpayers-struggling-with-tax-debts
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Form 1099-MISC for Non-Employee Compensation changed to Form 1099-NEC
If you usually give your subcontractors a 1099 at the end of the year reporting the amount of money you paid them, you should be aware the tax form has changed for 2020. You will now issue them Form 1099-NEC.
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6 Things to Bring Your Accountant to Prepare Your Tax Return
Original Article Source Credits: National Society Of Accountant , https://www.nsacct.org/
Article Written By: NSA Admin
Original Article Posted on: 12-10-2015
Link to Original Article: https://www.nsacct.org/blogs/nsa-admin/2015/12/10/6-things-to-bring-your-accountant-to-prepare-your-tax-return
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What Does A Biden Presidency Mean For Your Tax Bill?
Original Article Source Credits: Forbes , https://www.forbes.com/
Article Written By: Tony Nitti
Original Article Posted on: Nov 7, 2020
Link to Original Article: https://www.forbes.com/sites/anthonynitti/2020/11/07/what-does-a-biden-presidency-mean-for-your-tax-bill/?sh=3882879544c2
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The Tax Preparation Fees Deduction: Who Can Still Claim it?
Original Article Source Credits: The Balance , https://www.thebalance.com/
Article Written By: Beverly Bird
Original Article Posted on: September 17, 2020
Link to Original Article: https://www.thebalance.com/tax-preparation-fees-deduction-3192843
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The Tax Blotter: Sept. 2020
Original Article Source Credits: CPA Practice Advisor , https://www.cpapracticeadvisor.com/
Article Written By: NA
Original Article Posted on: Sep 16th, 2020
Link to Original Article: https://www.cpapracticeadvisor.com/tax-compliance/news/21154482/the-tax-blotter-sept-2020
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The new charitable deduction for 2020
Residents of the United States are ranked as among the most generous in the world according to some surveys. However, many charitable organizations are now experiencing a decline in donations given as we find ourselves dealing with a public health crisis.
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IRS extends Economic Impact Payment deadline to Nov. 21 to help non-filers
Original Article Source Credits: IRS , https://www.irs.gov/
Article Written By: NA
Original Article Posted on: 06-Oct-2020
Link to Original Article: https://www.irs.gov/newsroom/irs-extends-economic-impact-payment-deadline-to-nov-21-to-help-non-filers
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Frequently Asked Questions About Taxes
Accurately filing annual returns on time is essential to comply with the tax authorities. On many occasions, you will also be able to claim rebates, so it’s critical to stay on top of your books. However, if it’s your first time filing taxes, you may have tons of questions about the process but may find it tricky to get all the answers that you’re seeking.
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The payroll tax deferral
On August 28, 2020 the Treasury Department and the Internal Revenue Service released guidance on the payroll tax deferral that was ordered by President Donald Trump in a presidential memorandum on August 8th.
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Why DIY Tax Returns And Bookkeeping Are A Bad Idea
Whether you’re a business, corporation, or individual (above the age of eighteen), paying taxes to the government is mandatory. To ensure your tax filing process is efficient, you must practice sound bookkeeping. However, if you lack expertise in bookkeeping and tax filing, it’s essential to enlist a professional to handle these processes.
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Announcing the new website
We are delighted to announce the launch of our new website!