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 ...
The Treasury Department and Internal Revenue Service have officially announced that the federal income tax filing due date for individuals will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance ...
Tax professionals will need to perform proactive tax planning to not just determine what amount of taxes will be due for estimated payments, but how to re-orient the business and individual finances to reduce tax liability.
![biden-flag[1]](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2020/09/biden_flag_1_.5f737c2f5eeba.png)
According to documents released by Biden’s campaign Tuesday, the former vice president and his wife, Jill, got a refund of $46,858 after paying $346,204 in income taxes. He reported a taxable income of $944,737, paying 31.7% of it in taxes