Taxes March 23, 2026
12 Little-Known Tax Deductions Many Business Owners Miss
From start-up costs to even health insurance premiums, identifying overlooked expenses early can make a meaningful difference to a company’s tax returns.
April 15, 2021
IRS Has Disbursed $376 Billion in Stimulus Payments to 159 Million Americans
The total value of the stimulus payments is more than $376 billion since these payments began rolling out to Americans in batches as announced on March 12.
April 1, 2021
IRS Has Sent Stimulus Payments to More than 130 Million Americans
This brings the total disbursed so far to more than 130 million payments worth approximately $335 billion.
April 1, 2021
Accounting Amid COVID: When Will CPAs Get Some Relief?
This year, while a marked improvement from its predecessor, has faced a few similar challenges – primarily, that tax practitioners have again been left scratching their heads. This time, the confusion is around why the IRS gave only one extra month for the tax season, compared to three last year. The injury has been worsened...…
March 31, 2021
New York State Legalizes Recreational Marijuana
Adults over 21 will also be allowed to grow marijuana at home. It will be a while before legal sales begin or plants are allowed to grow as the newly-created Office of Cannabis Management is formed and finalizes rules and regulations.
March 31, 2021
IRS Says Taxpayers Should Not File Amended Tax Returns Due to Stimulus Law
The IRS is strongly urging taxpayers to not file amended returns related to the new provisions in ARPA or take other unnecessary steps at this time.
March 31, 2021
College Students Warned of IRS Scam
Taxpayers who believe they may have provided identity thieves with this information should consider immediately obtaining an Identity Protection PIN. This is a voluntary opt-in program. An IP PIN is a six-digit number that helps prevent identity ...
March 31, 2021
Emergency Financial Aid Grants to College Students are Not Taxable, Says IRS
The Internal Revenue Service has issued frequently asked questions on how students and higher education institutions should report pandemic-related emergency financial aid grants.
March 30, 2021
The Tax Blotter – March 31, 2021
The Tax Blotter is a round-up of recent income tax news.
March 30, 2021
Where’s My Stimulus Payment? IRS Says Social Security and Other Program Recipients Will Receive Theirs Soon
Payments will begin to be issued this weekend to Social Security recipients and other federal beneficiaries who do not normally file a tax return, with the projection that the majority of these payments would be sent electronically and received on April 7
March 29, 2021
IRS Says Face Masks and PPE are Tax Deductible
The Internal Revenue Service has issued Announcement 2021-7 PDF to clarify that the purchase of personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of coronavirus are ...
March 29, 2021
Another Look at the Tax Effects of the American Rescue Plan of 2021
The good news is the first $10,200 that most taxpayers received in unemployment benefits of up to $10,200 are not taxable for 2020. If you have already filed your tax return for 2020 the IRS is asking you to not file an amendment, as they will take ...
March 29, 2021
Tax Deductions: IRA Contributions Can Be Made Until May 17, 2021
Contributions to a traditional IRA are usually tax deductible, and distributions are generally taxable. There is still time to make contributions that count for a 2020 tax return, if they are made by April 17, 2021. Taxpayers can file their return ...