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 29, 2021
With Ability to Work Remotely, More New Yorkers Migrating to Sunny South Florida
Spurred by high taxes, out of state newcomers are settling down in South Florida as employers allow — or even encourage — remote work, according to various real estate agents in the tri-county area. Most of the newcomers are heading down from the northeas
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 ...
March 29, 2021
IRS Extends More 2021 Tax Deadlines, But Estimated Payments Still Due April 15, 2021
The IRS says individuals also now have until May 17, 2021 to meet certain deadlines that would normally fall on April 15, such as making IRA contributions, but the estimated tax payment deadline is still April 15, 2021.
March 28, 2021
IRS Ramps Up Covid Fraud Investigations
To learn more about COVID-19 scams and other financial schemes visit IRS.gov. Official IRS information about COVID-19 and Economic Impact Payments can be found on the Coronavirus Tax Relief page, which is updated frequently.
March 28, 2021
AICPA Thanks Congress for PPP Extension
The additional 60 days provided by the PPP Extension Act will greatly help small businesses, non-profits and the CPAs that serve them complete existing and file new PPP loan applications. AICPA believes that this extension gives the SBA time to update ..
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March 24, 2021
FICPA Virtual Mega Conference Scheduled for June 9-11, 2021
This year’s MEGA Conference is a three-day, virtual event from June 9-11, with an additional half-day of complimentary, TED-style learning labs scheduled for June 8.
March 18, 2021
What Do You Hear When You Listen to Your Clients?
It’s tax time and, be it virtually or in person, we’re meeting with many of our clients. In some cases, it’s the only time all year we will hear from them. We need to gather the appropriate financial information so that we can prepare their tax ...
March 17, 2021
IRS Makes it Official: Tax Deadline Delayed to May 17, 2021
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 ...
March 17, 2021
Advisory Services Best Practices: Turning Tax Return Problems Into Business Lifecycle Engagements
We got into this profession to help our clients achieve their goals and grow their businesses, and even if most of your work involves individual returns, there are still personal goals to meet. It’s time to put your advisory services hat on ...
March 16, 2021
AICPA Again Urges IRS to Delay Tax Filing Season
“Even the IRS – faced with a significant mail processing backlog, a delayed start of the 2021 tax season, inundated phone lines, and a new round of COVID-19 relief payments – is overwhelmed. Denying a postponement of this filing and payment deadline ...