This article was published by the IRS. The IRS has started issuing the third round of Economic Impact Payments. No action is needed by most taxpayers. The IRS will issue payments automatically by direct deposit and through the mail as a check or debit card. Many people will receive the third payment the same way they [...]
This article was published by the IRS. The Internal Revenue Service recently announced a number of changes designed to help struggling taxpayers impacted by COVID-19 more easily settle their tax debts with the IRS. The IRS assessed its collection activities to see how it could apply relief for taxpayers who owe but are struggling financially because [...]
Heather appeared again in last week’s Tuesday episode (March 3, 2021) of the Town of Plymouth’s “COVID-19 Daily Update” to talk about the Massachusetts issue of PPP loan forgiveness currently differing based on business entity type. Federally, any PPP loan that is forgiven will not be viewed as income. However, Massachusetts currently has a split decision [...]
This article was published by the IRS. Taxpayers who receive Forms 1099-G for unemployment benefits they did not actually get because of identity theft should contact their appropriate state agency for a corrected form. States issue Forms 1099-G to the taxpayer and to the IRS to report what taxable income, such as refunds or unemployment benefits, [...]
This article was published by the IRS. The Internal Revenue Service urges employers to take advantage of the newly-extended employee retention credit, designed to make it easier for businesses that, despite challenges posed by COVID-19, choose to keep their employees on the payroll. The Taxpayer Certainty and Disaster Tax Relief Act of 2020, enacted December 27, [...]
