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. No matter how devastating a disaster is, before the IRS can authorize any tax relief, FEMA must issue a major disaster declaration and identify areas qualifying for their Individual Assistance program. Here's a list of tax-related things that usually happen after a major disaster strikes: The IRS gives taxpayers [...]
Each year, millions of taxpayers miss out on getting money - in some cases, several hundred dollars - because they were due a refund but didn't file a tax return, and their time to claim a refund ran out. If you don't file a return claiming a refund within three years, you lose it, and the [...]
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, [...]
