The Internal Revenue Service announced cost‑of‑living adjustments affecting dollar limitations for pension plans and other retirement-related items for tax year 2021 in Notice 2020-79, posted today on IRS.gov.
Month: October 2020
Real estate professionals who own short-term rental properties that are managed by a third party may find it more difficult to escape the grasp of the passive loss rules.
The revised Form 941-X, Adjusted Employer’s Quarterly Federal Tax Return or Claim for Refund, allows employers to correct COVID-19 related employment tax credits and other tax relief related to COVID-19.
On October 8th, the SBA and Treasury rolled out a simpler PPP forgiveness process for loans $50,000 or less.
The IRS reminds taxpayers that criminals and scammers often try to take advantage of generous taxpayers who want to help disaster victims. Everyone should be vigilant. These scams often pop up after a hurricane, wildfire or other disaster.
The Internal Revenue Service set Nov. 10 as “National EIP Registration Day,” as the agency and partners across the country launch a final push to encourage everyone who doesn’t normally file a tax return to register to receive an Economic Impact Payment.