What To Do If the IRS Sends You a Letter
There are a variety of reasons the IRS might send you a letter or notice. Here are a few common reasons and how to respond to them.
IRS Letter Regarding 2020 Recovery Rebate Credit
Taxpayers who claimed the Recovery Rebate Credit (RRC) on their 2020 tax return may receive a letter from the IRS notifying them that the credit amount has been changed and corrected.
Filing 2020 Unemployment Compensation
The IRS has released additional guidance on how to include unemployment compensation on your tax return and how they will handle refunds for those who have already filed.
Tax Deadline Extended to May 21, 2021
This is an automatic extension and gives taxpayers an extra month to file and pay most federal income tax.
Economic Impact Payments | Round Three
The American Rescue Plan Act of 2021 issues the third round of Economic Impact Payment. Here’s what we know.
Standard vs. Itemized Deductions
Most taxpayers can choose to take the standard deduction or itemized deductions.
Gig Economy Workers
The IRS defines the gig economy as “activity where people earn income providing on-demand work, services or goods. Often, it’s through a digital platform like an app or website.”
Missing Tax Forms & What To Do
If you do not receive one of the tax forms you need to file, there are a few options.
Recovery Rebate Credit
Eligible individuals who did not receive these Economic Impact Payments or the full amount may claim them as a credit, known as the Recovery Rebate Credit, on their tax return for 2020.
Important 2021 Tax Season Dates
Here are some of the most important dates for the 2021 tax season. However, depending on your tax situation, there may be other important dates you need to be aware of.
IRS Identity Protection PIN (IP PIN)
On January 12, 2021, the IRS expanded the Identity Protection PIN Opt-In program to all taxpayers who can verify their identities.
Ways to Get Ready to File Your Taxes
Having all of your tax documents ready before you file will help the process go a lot smoother.
What’s New in 2021
2021 is here and here’s what you should know about this year’s tax season.