by taxPRO Websites Staff | Nov 19, 2020 | Tax Tips and News
With 2020’s extended tax deadlines due to the coronavirus pandemic, it seems like we just wrapped up the previous tax season. But believe it or not, the next filing season kicks off Jan. 1, 2021. The Internal Revenue Service is encouraging taxpayers to begin...
by taxPRO Websites Staff | Nov 17, 2020 | Tax Tips and News
After Dec. 12, business tax transcripts will soon be a little less informative—for good reason. The IRS will start masking sensitive data on the transcripts to protect businesses from identity theft beginning Dec. 13. The announcement from the IRS provides 30 days for...
by taxPRO Websites Staff | Nov 14, 2020 | Tax Tips and News
Some people managed to register for their $1,200 Economic Impact Payment (EIP) but just didn’t have the necessary information in-hand to also sign up for the $500 payment for qualifying children. Now the IRS says there’s a way to get that missing payment. The Internal...
by taxPRO Websites Staff | Nov 13, 2020 | Tax Tips and News
A new notice from the Internal Revenue Service reveals some new rules that are expected to be included in upcoming proposed regulations. Notice 2020-75 spells out the proposed regulations clarifying that state and local income taxes imposed on and paid by a...
by taxPRO Websites Staff | Nov 12, 2020 | Tax Tips and News
Anyone who doesn’t normally file a tax return but hasn’t already received an Economic Impact Payment (EIP) is urged by the IRS to take advantage of its “National EIP Registration Day.” While the official day was marked on Nov. 10, those non-filers still without an EIP...
