IRS News
Get An Identity Protection PIN (IP PIN)
Have you ever been a victim of identity theft? For any of my clients that answer yes to this question I encourage them to voluntarily request an IRS Identity Pin. With this pin you are protecting yourself from someone else being able to file a fraudulent tax return with your Social Security number. If the IRS assigns you a pin then your tax return cannot be processed electronically or by mail without the pin attached! Want to talk more about this? Feel free to give me a call at 844-888-1040.
irs.gov
Your Tax Return Could Be Flagged by the IRS. Here's When It May Happen
On top of figuring out how Covid relief might affect their return, those complications could result in more taxpayers making mistakes and hearing from the IRS, experts say. And depending on the specifics, it could mean a smaller refund or a larger amount due than anticipated. "Everyone's world has been turned upside down," said Henry Grzes, lead manager for tax practice & ethics for the American Institute of CPAs.
nbcwashington.com
IRS Warns Of Delays And Challenging 2021 Tax Season: 10 Tax Tips For Filing Your 2020 Tax Return
The Internal Revenue Service says taxpayers should expect limited face-to-face operations, heavy call volume and paper-processing delays as it opens today for tax season 2021, accepting tax returns for tax year 2020. And then there’s all the pandemic-related tax law changes to consider. Here’s a guide to some key issues.
forbes.com
Eligible educators may deduct personal protective equipment expenses
The IRS provided a safe harbor under which “eligible educators” can deduct unreimbursed expenses for COVID-19 protective items as educator expenses under Sec. 62(a)(2)(D) (Rev. Proc. 2021-15). COVID-19 protective items include, but are not limited to:
journalofaccountancy.com
News
IRS says all stimulus checks have been delivered. Here's what to do if you didn't get one
The Internal Revenue Service said this week that it has finished issuing stimulus checks to all of the eligible taxpayers that it has on file -- meaning some Americans will need to ask for the money when they file their 2020 tax return.
foxbusiness.com
New rule on 401(k) rollovers takes effect, as Biden sticks with Trump-era change
The Labor Department said late last week that it will build upon a Trump administration regulation governing advice that affects the trillions of dollars in retirement accounts, rather than replace it.
foxbusiness.com
Surprise tax forms reveal extent of unemployment fraud in US
Unemployment agencies across the country were bombarded with so many claims during the pandemic that many struggled to distinguish the correct from the criminal.
foxbusiness.com
From The Desk of Keith L. Jones, CPA
A Divorce Can Derail Your Finances. Here Are Some Money Mistakes to Avoid
Be sure you understand the implications of all money-related decisions being made, even if you have an attorney or other professional advocating for you.
nbcwashington.com