This is called the economic impact payment by the IRS. The max per taxpayer is $1,200 and $2,400 per married filing joint couple. For each qualifying child there is an additional $500. The phase out starts depending on your filings … Read More
The Internal Revenue Service this week issued guidance providing tax relief under the CARES Act for taxpayers with net operating losses, in addition the agency issued tax relief for partnerships filing amended returns. COVID Relief for taxpayers claiming NOLsRevenue Procedure 2020-24 provides … Read More
The Department of Treasury and the Internal Revenue Service this week announced extensions of additional key tax deadlines for individuals and businesses. Last month, the IRS announced that taxpayers generally have until July 15, 2020, to file and pay federal income taxes … Read More
The IRS has relayed some information about the Equifax data breach that affected around 143 million tax payers that although it exposed names, social security numbers, and addresses it would be near impossible to use this to file a fraudulent … Read More
According the the FTC there is a recent scam where people will pretend to be from the IRS and request that you pay your back taxes using an iTunes gift card. This is a scam. The IRS will not call … Read More
As of now anyone who prepares tax forms needs to have a PTIN a Preparer Tax Identification Number. According to IRS.gov there are currently 638,317 active PTINs.
Beginning next week the IRS will accept tax returns with Education Credits and Depreciation. Educations Credits use form 8863 Depreciation uses form 4562 See the article at IRS.gov