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2020 COVID relief bill provisions affecting individual taxpayers

2021-01-06T12:46:41-05:00

Dear Client, Here is an overview of key provisions in the recent COVID relief legislation that affect individuals. RECOVERY REBATE/ECONOMIC IMPACT PAYMENT Direct-to-taxpayer recovery rebate. The Act provides for a refundable recovery rebate credit for 2020 that will paid in advance to eligible individuals, often automatically, early in 2021. ( Code Sec. 6428A , as [...]

2020 COVID relief bill provisions affecting individual taxpayers2021-01-06T12:46:41-05:00

Payroll-Related Provisions of the New COVID-19 Law

2021-01-06T12:46:13-05:00

Dear Client, The Consolidated Appropriations Act, 2021 (the CAA, 2021) was signed into law on December 27, 2020 and is a further legislative response to the coronavirus (COVID-19) pandemic. The more than 5,500 page law contains numerous provisions that relate to payroll. These provisions are primarily found in the following areas of the CAA, 2021: [...]

Payroll-Related Provisions of the New COVID-19 Law2021-01-06T12:46:13-05:00

IRS warns people about a COVID-related text message scam

2020-12-09T10:21:03-05:00

Issue Number: COVID Tax Tip 2020-167 The IRS and its Security Summit partners are warning people to be aware of a new text message scam. The thief’s goal is to trick people into revealing bank account information under the guise of receiving the $1,200 Economic Impact Payment. Here’s how this scam works People get a [...]

IRS warns people about a COVID-related text message scam2020-12-09T10:21:03-05:00

Attention teachers: Those school expenses might be tax deductible

2020-07-28T12:48:17-04:00

This is straight from the IRS! Attention teachers: Those school expenses might be tax deductible   School may look a little different this year, but eligible teachers and other educators can still deduct certain unreimbursed expenses on their tax return next year. Who is considered an eligible educator: The taxpayer must be a kindergarten through [...]

Attention teachers: Those school expenses might be tax deductible2020-07-28T12:48:17-04:00
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