These days the IRS is investigating all types of fraud and getting serious about slapping fines on offenders. The IRS is now investigating domestic employment - their efforts are no longer limited to financial technology companies and unreported cryptocurrency transactions, false unemployment compensation claims, and PPP Loan fraud. Lately there has been a significant trend...
For now, the best way to find the status of your return and associated refund is to use the IRS' online Where's My Refund? tracking tool. Every tax season is challenging, but this one is worse because Congress has fiddled yet again with tax laws, and the IRS has had to respond with (often confusing) new...
Whether you were a senior manager, staff, or stakeholder in business last year, chances are you were out of work (even if only temporarily) and collecting unemployment. You were not alone. More than 23 million USA workers filed for unemployment in 2020. For the first time, some self-employed workers also qualified for unemployment benefits. The...
Another moving target! The IRS is postponing the deadline for all individual tax returns. Returns otherwise due April 15 will not have to be filed until May 17 this year. The IRS says it will issue formal guidance in the very near future. The postponement applies only to individual taxpayers, who can postpone their federal...
You still have time! Since this article was published, tax deadline has been extended to May 17, 2021, and so has the ability to contribute to your IRA. Taxpayers may be able to claim a deduction on their 2020 tax return for contributions made to their IRA through April 15, 2021. There is no longer...
