The IRS has a page they keep updated and I just found this update from last Friday. I know we have several clients who have found themselves in this situation. https://www.irs.gov/newsroom/irs-operations-during-covid-19-mission-critical-functions-continue Filed an Individual Tax Return (Form 1040) for tax year 2019 or tax year 2020, a Business Tax Return or an Amended Return (updated April 30, 2021) The IRS…
Tag: #2020
Rundown of New Provisions
Here is a quick rundown of the top 3 individual and business tax provisions in the COVID-Related Tax Relief Act of 2020 (part of the Consolidated Appropriations Act, 2021). Individual Provisions Economic Impact Payments – You may have already received a pending notification regarding your “second stimulus.” Please note, currently the law only allows $600 per taxpayer, spouse, and…
Have you seen the 2020 Federal W-4?!
Gone are the days of Single 0, now we have far fewer choices on an even bigger form. And how on earth do I claim exempt?!