IRS Says PPE Expenses Could be Deductible

IRS Says PPE Expenses Could be Deductible

A new announcement from the Internal Revenue Service should come as welcome news to front-line health care workers nationwide. Announcement 2021-7 clarifies existing language to assure taxpayers that the purchase of personal protective equipment (PPE) can be...
FTC Warns of New Unemployment Identity Theft Scam

FTC Warns of New Unemployment Identity Theft Scam

The CARES Act was the first of three major COVID-relief packages that have infused the US economy with stimulus funds provided for items like direct payments, new and expanded tax credits, forgivable business loan programs, and extended unemployment insurance....
“Where’s My Refund?” Makes Checking Refund Status Easy

“Where’s My Refund?” Makes Checking Refund Status Easy

It’s easy to imagine that early bird tax filers are punctual in everything they do, maybe even embodying that Ben Franklin wisdom about bedtimes. While they may be the salt of the earth—generally making filing season just a little easier for tax pros—some may get a...
Employee Retention Credit Updated by the American Rescue Plan

Employee Retention Credit Updated by the American Rescue Plan

The sweeping American Rescue Plan Act of 2021 may have greenlit the third round of economic impact payments, but it also includes changes to several tax credits—many of which were designed to provide relief to struggling Americans whose finances took a hit during the...
IRS Now Sending EIP Checks, Debit Cards

IRS Now Sending EIP Checks, Debit Cards

As the old phrase goes, things are looking up. The Internal Revenue Service says more Economic Impact Payments (EIP3) are coming this week—a second round that will include paper checks and prepaid debit cards. Taxpayers getting direct deposits will see a deposit date...