IRS Grants More Due Date Breaks

The IRS has announced that individuals have until May 17, 2021, to meet certain deadlines that would normally fall on April 15. This follows a previous announcement from the IRS on March 17, that the federal income tax filing due date for individuals for the 2020 tax...

IRS Offers More Details on Relief Bill Stimulus Payment Eligibility

The latest relief bill—the American Rescue Plan Act—is the size of a long novel, so it will take some time to get the full scope. The IRS has started to issue guidance, which provides help in understanding key provisions, but does not contradict what has been widely...

The American Rescue Plan Act of 2021 Signed Into Law By President Biden

President Joe Biden’s $1.9 trillion COVID-19 relief bill cleared its final congressional hurdle, with the House passing the bill in a 220 to 211 vote, sending it to the president for his signature. President Biden signed the legislation this afternoon.  Whether you...

What’s in the New 2021 Stimulus Bill?

In mid-March, the Senate and House reached various compromises on the latest relief bill, the American Rescue Plan Act. The 600 pages contain many provisions and additional guidance is likely to follow in the coming weeks. Meanwhile, here are the key benefits. The...

IRS Clarifies Issues Around CP59 Notices

In early 2021, the IRS issued notices to approximately 260,000 taxpayers stating they hadn’t filed their 2019 federal tax return. These notices, referred to as CP59 notices, are issued yearly to identified taxpayers who have failed to file a tax return that was...

IRS Releases New Guidance on Employee Retention Credit and PPP Eligibility

On March 1, 2021, the Internal Revenue Service released guidance for employers claiming the employee retention credit for 2020 and how it relates to eligibility for the Paycheck Protection Program. The guidance in Notice 2021-20 echoes the information the IRS has...
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