• +1 (717) 759-4227

Most taxpayers can deduct up to $300 in charitable contributions without itemizing deductions

Following tax law changes, cash donations of up to $300 made this year by December 31, 2020 are now deductible without having to itemize when people file their taxes in 2021. The Coronavirus Aid, Relief and Economic Security Act...

  • 0 Comments
  • December 15, 2020

IRS: Check tax withholdings now as the last quarter of 2020 begins

WASHINGTON — The Internal Revenue Service today reminded taxpayers that now is the perfect time to review their tax withholding and payments to avoid a surprise when filing next year. An adjustment or two made now may boost take...

  • 0 Comments
  • October 12, 2020

People should have tax withheld from unemployment now to avoid a tax-time surprise

Due to the Coronavirus pandemic, millions of Americans received or are currently receiving unemployment compensation, many of them for the first time. It’s important for these individuals to know that unemployment compensation is taxable. People can have taxes withheld...

  • 0 Comments
  • September 24, 2020

IRS extends more tax deadlines, including Form 990-series returns and notices

Last month, the IRS announced that certain taxpayers generally have until July 15, 2020, to file and pay federal income taxes originally due on April 15. The IRS has extended this relief to additional returns, tax payments and other...

  • 0 Comments
  • April 16, 2020

Here’s how much individuals will get from the Economic Impact Payments

Employed full or part time? Unemployed? A temporary or gig worker? Retired or disabled? Receive public benefits? Have no income? Most U.S. residents – under certain income levels – will receive the Economic Impact Payment if they are not...

  • 0 Comments
  • April 15, 2020

IRS provides guidance under the CARES Act to taxpayers with net operating losses

WASHINGTON – The Internal Revenue Service today issued guidance providing tax relief under the CARES Act for taxpayers with net operating losses. Recently the IRS issued tax relief for partnerships filing amended returns. COVID Relief for taxpayers claiming NOLsRevenue...

  • 0 Comments
  • April 14, 2020

Treasury, IRS launch new tool to help non-filers register for Economic Impact Payments

IRS.gov feature helps people who normally don’t file get payments; second tool next week provides taxpayers with payment delivery date and provide direct deposit information WASHINGTON – To help millions of people, the Treasury Department and the Internal Revenue...

  • 0 Comments
  • April 13, 2020

Three loan opportunities that could help small businesses survive COVID-19

Financial experts agree that an economic rebound from the COVID-19-induced recession won’t happen until public health officials lift social distancing orders and allow companies to resume business operations. Until then, federal officials are working with local lenders to help...

  • 0 Comments
  • April 9, 2020

IRS issues warning about Coronavirus-related scams; watch out for schemes tied to economic impact payments

WASHINGTON — The Internal Revenue Service today urged taxpayers to be on the lookout for a surge of calls and email phishing attempts about the Coronavirus, or COVID-19. These contacts can lead to tax-related fraud and identity theft. “We...

  • 0 Comments
  • April 3, 2020

Social Security recipients who don’t usually file tax returns will automatically get $1,200 payments, Treasury says in reversal

The Treasury announced late Wednesday that Social Security beneficiaries who typically do not file a tax return will automatically get the $1,200 payment. The announcement is a reversal from earlier in the week when the Internal Revenue Service said...

  • 0 Comments
  • April 2, 2020