Action Tax Relief, LLC.

01/16/2023

https://finance.yahoo.com/news/how-big-will-your-tax-refund-be-changes-this-year-make-it-harder-to-guess-162514503.html

With pandemic-era changes gone, many taxpayers might see smaller refunds, especially lower-income families.

03/22/2022

https://www.cnbc.com/2022/03/21/you-probably-cant-write-off-your-home-office-on-your-taxes.html

Under the 2017 law, workers who receive a W-2 from their employer are unable to include any itemized deductions for business expenses.

03/21/2021

IRS to Handle Unemployment Returns, Don't Amend

Returns filed with unemployment benefits prior to the $10,200 exclusion should not be amended. The IRS has indicated it will refigure taxes on these returns and adjust the taxpayer's account accordingly. The IRS will then send any refund amount directly to the taxpayer.

The IRS has not yet communicated a timeline for making adjustments and sending refunds.

Look for an official news release in the coming days:

Get IRS tax news and sign up for e-News updates. Find information on Form 1040, tax relief, regulations, deadlines, tax guidance and more.

03/18/2021

https://www.journalofaccountancy.com/news/2021/mar/ppp-application-deadline-extension-bill-gains-backing.html

The U.S. House of Representatives voted 415-3 Tuesday night to extend the Paycheck Protection Program application deadline by 60 days. The PPP Extension Act of 2021 moves the PPP application deadline from March 31 to May 31 and allots an additional 30 days for processing applications received by May...

03/18/2021

https://www.irs.gov/newsroom/tax-day-for-individuals-extended-to-may-17-treasury-irs-extend-filing-and-payment-deadline

IR-2021-59, March 17, 2021 — The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021.

01/15/2021

The IRS anticipates a first week of March refund for many EITC and ACTC taxpayers if they file electronically with direct deposit and there are no issues with their tax returns. This would be the same experience for taxpayers if the filing season opened in late January. Taxpayers will need to check Where’s My Refund for their personalized refund date.

01/15/2021

https://www.cnbc.com/2021/01/15/irs-delays-start-of-tax-filing-season-to-feb-12.html

The IRS will begin receiving 2020 income tax returns on Feb. 12.

01/12/2021

https://www.irs.gov/newsroom/irs-statement-update-on-economic-impact-payments

Updated January 11, 2021 — Update on Economic Impact Payments.

12/28/2020

https://taxvid.resourcesforclients.com/PUXWslNk8yMy

2020 Individual Tax Highlights: The worst time to know about new tax laws is when it is too late to do anything about it. Here is a summary of the most impactful changes this year.