WASHINGTON — The Internal Revenue Service today announced for the second consecutive year it has received a prestigious award honoring the highest quality in financial management and performance reporting from the AGA, an association that connects and empowers financial-related professionals who support government. In a ceremony held on May 16, the AGA presented the IRS its [...]
Phishing is the practice of sending fraudulent communications disguised to appear to be from a reputable source. These attacks, usually through email but increasingly through text messages, are an attempt to try to steal personal and financial information. The IRS does not request personal or financial information from taxpayers by email. This includes any type of electronic communication, [...]
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WASHINGTON — The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia, anywhere in South Carolina. These taxpayers now have until Feb. 15, 2024, to file various federal individual and business tax returns and make tax payments. This is similar to relief already being provided in most of Florida. The [...]
Stock up on Forever stamps now, or forever hold your peace. The United States Postal Service’s plan to raise stamp prices is taking effect on July 10. The price of a Forever stamp will rise from 58 cents to 60 cents. A Forever stamp, as its name suggests, can be used to mail a letter regardless of [...]
The Internal Revenue Service announced that the nation's tax season will start on Monday, Jan. 24, 2022, when the tax agency will begin accepting and processing 2021 tax year returns. The January 24 start date for individual tax return filers allows the IRS time to perform programming and testing that is critical to ensuring IRS [...]
As employers reimagine the workplace post-Covid, a four-day work week may become a new perk. Last month, technology company Bolt became one of the latest companies to jump on board. Earlier this year, New York-based crowdfunding platform Kickstarter announced it would pilot a four-day workweek. There’s a campaign now underway from 4 Day Week Global to get more [...]
Every year the IRS mails letters or notices to taxpayers for many different reasons. Typically, it’s about a specific issue with a taxpayer’s federal tax return or tax account. A notice may tell them about changes to their account or ask for more information. It could also tell them they need to make a payment. [...]
EXECUTIVE SUMMARY The omnibus spending and coronavirus relief legislation enacted in December clarified that deductions are allowed for otherwise deductible expenses paid with the proceeds of a Paycheck Protection Program (PPP) loan that is forgiven. A refundable tax credit in the amount of $600 per eligible family member was enacted. Advance payments of the credit [...]
The IRS on Friday announced that it will start accepting and processing 2020 tax returns on Friday, Feb. 12. This is later than in most previous years, when tax season has started in January. The IRS says the delay is due to the extra time it needs for programming and testing its systems following the [...]