Podcasts

  • New Guidance Aimed at Employers Claiming Employee Retention Credit

    New guidance from the Internal Revenue Service aims to help employers better understand the employee retention credit—and how they can qualify for it. The new guidance spotlights employers who pay qualified wages after June 30 of this year and before Jan. 1 of 2022. Additional guidance tries to answer various miscellaneous questions around the credit…

  • Truckers Reminded Highway Use Tax Due Aug. 31

    Long-haul truckers now have an extra chore on their August to-do list, right up there with an oil change and a truck wash. It’s time to file Form 2290, Heavy Highway Vehicle Use Tax Return for Tax Year 2021. Form 2290 is required of those who have registered—or who are required to register—large trucks, buses…

  • COVID Paid Leave Credit Clarified for Employers

    The Internal Revenue Service has updated its guidance on expanded paid sick and family leave tax credits available to employers who provide the leave to their workers. Put in place by the American Rescue Plan Act of 2021, also known as ARP, the credits permit eligible employers to be reimbursed for providing paid sick and family…

  • More Unemployment Tax Refunds Coming, IRS Says

    The Internal Revenue Service says it’s not done issuing refunds for tax paid on COVID unemployment benefits. Another 1.5 million taxpayers are now slated to get refunds averaging over $1,600 as part of the IRS adjustment process in the wake of recent legislation. It all started with passage of the American Rescue Plan Act of…

  • IRS Highlights Tax Resources for College Students

    With summer comes the prospect of a summer job for college students. Many times, their top priorities are twofold: Get some valuable work experience that can help them snag a choice position once they’ve graduated Make some spending money while they’re at it It’s during this time these working students get to know one of…

  • What Taxpayers Need to Know About Higher Education Credits

    Let’s face it: higher education is expensive, whether it’s community college, a trade school, a four-year university or an advanced degree. That’s where higher education tax credits come in. Credits reduce the amount of tax owed by qualified taxpayers. Some credits are refundable, that is, if a refundable credit reduces tax owed to less than…

  • IRS Explains Educator Expense Deduction

    The Internal Revenue Service has long allowed educators to deduct part of the cost of supplies and other expenses from their taxes. The total deduction allowed may not sound like much, but educators all over the U.S. have come to depend on this tax break for a little relief. The deduction is available for teachers,…

  • New Tax Pro Account, Other Services Launch on IRS.gov

    The Internal Revenue Service is continuing to move individual income tax features into the digital age. The agency’s latest move gives taxpayers digital control over who can represent them or view their tax records. The new feature is one of the recent upgrades to the Online Account for individuals. It allows taxpayers to designate their tax…

  • Using the IRS Withholding Estimator

    We’ve all been there before: We got a new job, and on the first day, our new boss puts a Form W-4 on our desk and tells us to fill it out for withholding. It takes a bit of math and what feels like a good helping of guesswork to figure out just how much…