AICPA News
Employee retention credit guidance update and rising economic confidence - Journal of Accountancy podcast
On March 1, the IRS issued guidance on the employee retention credit. April Walker, CPA, CGMA, lead manager on the Tax Practice & Ethics team at the AICPA, explains the highlights of that guidance, including how the credit interacts with PPP loans. Also, Ken Witt, CPA, CGMA, senior manager for management accounting and member engagement at the AICPA, shares the important details of the latest AICPA Business & Industry Economic Outlook Survey.
journalofaccountancy.com
News
IRS Refunds Will Start in May for $10,200 Unemployment Tax Break
The IRS will issue refunds automatically starting in May to workers who qualify for a new tax break on jobless benefits but had already filed their tax returns.
nbcwashington.com
3 Million More Businesses Claimed This Trump Tax Break Last Year
More than 21 million tax returns claimed a 20% pass-through deduction on business income during the 2020 filing season, according to IRS data.
nbcwashington.com
Council Post: How Biden's Tax Proposals Could Impact Real Estate Investors
If you are a small-business owner or real estate investor wondering what to expect under the Biden administration with regard to taxes, you definitely aren't the only one. In the past year, we have all gone through some major changes, and more changes come with a new administration. With this change in administration, I want to make sure you know what you need to be thinking about in regards to your taxes.
forbes.com
One-Third of Americans Don't Know Whether They'll Get a Tax Refund Or Owe the IRS This Year
The pandemic added extra complexity to this year’s tax season. Many Americans are now unsure whether they’ll get a refund or will owe the IRS money.
nbcwashington.com
Tax Refund Scammers Target College Students And Staff, IRS Warns
Got a .edu email address? You might be the target of the latest Internal Revenue Service impersonation scam. The IRS issued a warning today that scammers using phishing emails are targeting university and college students and staff from both public and private, profit and non-profit institutions.
forbes.com
Tips For 2020 Tax Returns With IRA Distributions
Many retirees and people who took Covid-related retirement plan distributions might need some extra time to work through their 2020 tax returns.
forbes.com
Unemployed In 2020? The IRS May Owe You A Tax Refund
If you were unemployed last year and filed your tax return before the latest pandemic relief package became law on March 11, you may soon be getting a refund. Here's why, and when those refunds may be going out.
forbes.com
$10,200 Unemployment Tax Break: Here's When Married Couples Should File Separate Returns
The American Rescue Plan waives federal tax on up to $10,200 of unemployment benefits, per person, in 2020. The tax break isn't available to those who earned $150,000 or more. Married couples who are over that threshold may benefit from filing separate tax returns. However, there are caveats that may still make joint returns the better option.
nbcwashington.com