Tax News 2021Volume 9, Issue 2 and Industry Updates Additional Tax Deadlines Extended to May 17Cross ReferencesNotice 2021-21On March 17, 2021, the IRS extended the filing deadline for individual tax returns to May 17, 2021, due to the on- going COVID-19 pandemic. At...
Tax News 2021Volume 9, Issue 3 and Industry Updates HSA Limitations continued HSA Inflation Adjusted AmountsCross ReferencesIRC §223Rev. Proc. 2021-25Rev. Proc. 2020-32Rev. Proc. 2019-25The IRS recently announced inflation adjusted amounts for...
Tax News 2021Volume 9, Issue 4 and Industry Updates The IRC section 280F limits are adjusted each year for inflation. The chart below reflects the new IRC section 280F limits for 2021 in comparison to 2020. Vehicle Depreciation Limitations (IRC §280F) Vehicle...
There are many tax scams out there with the purpose of stealing your identity, stealing your money, or filing fraudulent tax returns using your private information. Tax scammers work year-round, not just during tax season, and target virtually everyone. Stay alert to...
Virtual Currency (Cryptocurrency) Virtual Currency (Cryptocurrency) Currency is money in any form when in use or circulation as a medium of exchange. When a currency is legally rec- ognized by a government to be valid for meeting a financial obligation, it is called...
Don’t panic! Here are some ideas for getting your tax bill paid and minimizing interest and penalties. File your tax return on time. Individual income taxes are due and payable in full on April 15. If you expect to owe, you may be tempted to postpone filing until you...
