IRS Announces Virtual Settlement Days
The Internal Revenue Service announced that Settlement Days will be hosted via teleconferencing platforms due to coronavirus stay-at-home orders.…
Lower Oil Prices Affecting State Budgets
The Tax Foundation found that states relying on oil-related taxes could have state revenue shortfalls.…
IRS Urges Low-Income Non-Filers to Use EIP Reporting Tool
The Internal Revenue Service reminded low-income Americans who don’t normally file a tax return that they are probably eligible to receive an Economic Impact Payment.…
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IRS Issues “Plus $500” Last Call for SSI, VA Beneficiaries with Dependents
The Internal Revenue Service today issued a “plus $500” last call for Supplemental Security Income and Veterans Affairs beneficiaries who can claim dependents as part of their Economic Impact Payment.…
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What Are the Latest COVID-19 Updates? - E43
The latest episode of the Taxing Subjects Podcast explores some of the latest coronavirus-related tax industry announcements, including updated state individual income tax deadlines, Economic Impact Payments, and temporarily suspended IRS services.…
May 2020 Enrolled Agent Exam Cancelled due to Coronavirus
The Internal Revenue Service says it had to delay the Special Enrollment Examination (SEE) tests for Enrolled Agents that was slated for May due to the coronavirus pandemic.…
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Hunting, Fishing Tax Hits the Mark
The Tax Foundation found that an excise tax on firearms and other hunting and fishing gear is feeding tax proceeds back into projects that ultimately benefit outdoorsmen paying the tax.…
EIP Alert: May 5 Deadline for SSI and VA Beneficiaries with Dependents
While non-filers receiving Supplemental Security Income (SSI) and Veterans Affairs (VA) benefits are scheduled to automatically get a $1,200 Economic Impact Payment, the IRS says beneficiaries need to report qualifying dependents before May 5, 2020, to receive an additional $500 per qualifying child with their EIP.…
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88 Million EIPs Go Out
The U.S. Treasury Department and the Internal Revenue Service say they’ve delivered 88 million stimulus payments to taxpayers during the first three weeks of the program.…
Can I Buy OTC Medication with FSA, HSA, and HRA Funds?
The CARES Act removes an ACA limitation on using FSA, HSA, and HRA funds to pay for over-the-counter medication.…
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