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  • IRS OKs Temporary Use of e-Signatures on Certain Forms

    The Internal Revenue Service has approved the use of e-signatures on certain forms that can’t be filed electronically. The move comes in response to the coronavirus pandemic, in order to protect the health of taxpayers and tax professionals alike. The change helps reduce in-person contact while lessening the risks to taxpayers and tax professionals by…

  • IRS Offers Disaster Relief to California and Iowa Taxpayers

    Taxpayers in California and Iowa have a little extra time to file their tax returns and pay tax due, thanks to relief measures announced by the Internal Revenue Service. Victims of California wildfires getting IRS disaster relief. California has been hit by a series of wildfires going back to Aug. 14. Taxpayers now have until…

  • Aug. 31 is the Deadline to Return Distributions to Retirement Accounts

    IRA owners, beneficiaries and workplace retirement plan participants who got a Required Minimum Distribution (RMD) this year have until Aug. 31 to rollover or repay the distribution in order to avoid being taxed on the payments. The Coronavirus Aid, Relief, and Economic Security Act – also known as the CARES Act – waives RMDs during…

  • IRS Announces Interest Payments to 13.9 Million Refund Recipients

    Receiving a tax refund might be the only thing people like about filing their return, and it looks like some taxpayers are about to get just a little more money from the Department of Treasury. The Internal Revenue Service today announced that it “will send interest payments to about 13.9 million individual taxpayers who timely…

  • Taxpayers Should Renew Their ITIN Early

    The Internal Revenue Service today recommended that taxpayers with an expiring Individual Taxpayer Identification Number renew it early to make sure their tax year 2020 refund isn’t delayed. Normally an important financial boost for households across the country, this announcement could help affected non-Social Security holding taxpayers better plan for another uncertain year. Which ITINs…

  • Truckers Reminded to e-File Highway Use Tax Return by August Deadline

    The Internal Revenue Service is reminding owners of most heavy highway vehicles to timely file their Form 2290, Heavy Highway Vehicle Use Tax Return. The highway use tax applies to those motor vehicles with a taxable gross weight of 55,000 pounds or more. Generally, this includes large trucks, truck tractors and buses. The tax is…

  • “Physical Presence” CPE Rule Temporarily Waived for Enrolled Actuaries

    The Joint Board for the Enrollment of Actuaries is providing enrolled actuaries with some relief when it comes to picking up their continuing professional education (CPE) credits. The COVID-19 pandemic has caused the Joint Board to rethink the requirement that actuaries have to attend a certain amount of CPE courses in person. The board is…

  • IRS Announces New Identity Theft Affidavit

    Businesses are a favorite target of identity thieves. Reports often cover the theft of customer financial information, like credit cards, debit cards, and bank accounts. Perhaps less well known are scams that routinely use stolen business information—whether the business owner’s personal information or their Employer Identification Number—to file tax returns and Forms W-2. The Internal…

  • IRS: e-File is Available for Form 8300

    Many taxpayers may have collectively breathed a sigh of relief on July 16, but anyone selling big-ticket items between now and the end of 2020 will still need to report large cash transactions. The Internal Revenue Service says these reports can be batch e-filed, which should make life a little easier for the car dealerships…

  • PTIN Fees Coming Back for 2021

    Tax professionals across the country wrapped up a unique filing yesterday. While some still have to contend with an imposing stack of extensions that will be due on October 15, many are making plans to prepare for next filing season. It turns out that you should make room for another item on that checklist: paying…