Kentucky Tornado Victims Get Tax Relief
The Internal Revenue Service is moving quickly to do its part in relief efforts targeting tornado victims in Kentucky.…
IRS, Nonprofits Remind Taxpayers About Deduction
The IRS, the Independent Sector, and the National Council of Nonprofits are this week reminding non-itemizers that charitable contributions made this year may qualify for a tax deduction. This temporary rule comes from a provision in the Coronavirus Aid, Relief, and Economic Security (CARES) Act that was designed to help cash-strapped nonprofits during the pandemic.…
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2020 Recovery Rebate Credit FAQs Updated
The Internal Revenue Service has updated its online information with the aim of helping individual taxpayers qualify for Economic Impact Payments (EIPs) if they didn’t already get one.…
IRS: Don't Forget the Required Minimum Distributions Deadline
While most Americans have their eyes firmly on the Christmas holidays, many US retirees have another milestone to consider.…
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Tips for Protecting Your EFIN
Tax professionals have been in the crosshairs of cybercriminals for some time now, and it’s only getting worse. Now, the crooks are casting their nets, not only for client data, but to snare vital data of the tax pros themselves.…
New Guidance for the Employee Retention Credit
New guidance is available for employers on the retroactive termination of the Employee Retention Credit.…
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Security Tips for Small Businesses
We’re not trying to be alarming, but if you’ve got a small business, there’s someone looking over your shoulder—and we’re not talking about the government.…
It’s Time for a Security Checkup
The Security Summit focused on safe surfing habits, fake charities, and IP PINs for the first three days of National Tax Security Awareness Week. On the fourth day of their annual data security outreach campaign, the Summit is reminding tax professionals to perform a security checkup.…
IP PINs Make Tax Returns More Secure
An IP PIN is a six-digit number known only to the taxpayer and the IRS, assigned to eligible taxpayers to help stop the misuse of their Social Security number or Individual Taxpayer Identification Number (ITIN). Identity thieves file fake income tax returns using these numbers to claim fraudulent refunds.…
Don't Fall for Fake Charities
With the passage of Thanksgiving, Americans are shifting into gifting mode. For many, that means giving a holiday monetary gift to a well-deserving charity of one sort or another.…
