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Individuals who owe back taxes to IRS can check their balances online.
The agency's web tool shows the amount of taxes due, interest and penalties, as well as your payment history and details about any payment plan you may have. You can also make a payment online and review the various payment plan options. Users must go through...
WHAT HAPPENS IF I MISSED THE OCTOBER 15TH TAX EXTENSION DEADLINE?
We’ve all been there. Life is super busy. We have to take care of our families and friends, work obligations, and all our other everyday responsibilities. With all of the hustle and bustle, you realize that the October 15th tax extension deadline has passed and...
THE SBA ISSUES A SIMPLIFIED PPP LOAN-FORGIVENESS APPLICATION
If you are the owner of a small business that obtained a Paycheck Protection Program (PPP) loan, you are most likely aware that the loan can be partially or totally forgiven if you used the loan proceeds for the required purposes. Loan forgiveness is not automatic and...
DON’T MISS OUT ON YEAR-END TAX-PLANNING OPPORTUNITIES
Article Highlights: Unemployment Benefits Taxability To Skip or Not Skip the 2020 Required Minimum Distribution Special Charitable Giving Opportunities Divorced or Separated Planning Issues Potential State Health Insurance Penalties Dealing with Disaster Losses in...
IRS Warns of New Tax and Coronavirus Payment Scams
Taxpayers are being warned about new tax fraud and other related financial scams related to COVID-19. In the last few months, the IRS Criminal Investigation division (CI) has seen a variety of Economic Impact Payment (EIP) scams and other financial schemes looking to...
PPP forgiveness changes coming as Senate passes House bill
The U.S. Senate passed the House version of Paycheck Protection Program (PPP) legislation Wednesday night, tripling the time allotted for small businesses and other PPP loan recipients to spend the funds and still qualify for forgiveness of the loans. The bill passed...