Claim Disaster Loss in Previous Tax Year
Taxpayers may elect to claim a disaster loss for the tax year before the disaster.
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IRS
Tax information from the IRS and shared by Vernoia, Enterline + Brewer, CPA LLC.
Health Savings Accounts 2022
2022 Cost-of-Living Adjustments On May 10, 2021 the Internal Revenue Service (IRS) released Revenue Procedure 2021-25 announcing cost-of-living adjustments (COLAs) applicable to Health Savings Accounts (HSAs) for 2022.
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The American Rescue Plan Includes Retroactive Tax Benefits
The IRS reminds taxpayers who still haven’t filed, that several provisions of the American Rescue Plan affect their 2020 tax returns.
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Give Employer a New W-4
Checking Withholding Can Help Taxpayers Decide If They Need to Give Their Employer a New W-4 All taxpayers should review their federal withholding each year to make sure they’re not having too little or too much tax withheld.
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IRS Clarifies COVID-19 Relief for Van Pools
The IRS released Frequently Asked Questions (FAQ) to provide temporary relief to employers who operated van pools but experienced reduced ridership due to the Coronavirus (COVID-19) emergency. For this purpose, the emergency is considered to have begun on March 13, 2020.
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American Rescue Plan Tax Credits Available to Small Employers
American Rescue Plan tax credits available to small employers to provide paid leave to employees receiving COVID-19 vaccines; new fact sheet outlines details
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Treasury Department and IRS Provide Safe Harbor for Small Businesses
Treasury Department and IRS provide safe harbor for small businesses to claim deductions relating to first-round Paycheck Protection Program loans
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IRS Suspends Requirement to Repay Excess Advance Payments of the 2020 Premium Tax Credit
The premium tax credit helps pay for health insurance coverage bought from the Health Insurance Marketplace. Eligible people can choose to have all, some, or none of the estimated credit paid in advance directly to their insurance company on their behalf.
IRS Suspends Requirement to Repay Excess Advance Payments of the 2020 Premium Tax Credit Read More »
Where’s My Refund?
Since many taxpayers have filed their federal tax returns, they’re eager for details about their refund. When it comes to refunds, there are several common myths that can mislead taxpayers.
Where’s My Refund? Read More »
Tax Implications of the American Rescue Plan Act of 2021
Many of the tax provisions in the American Rescue Plan Act of 2021 are extensions of existing provisions and are meant to provide immediate assistance to individuals and businesses affected by the COVID-19 pandemic.
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