Tax & Current Accounting Topics

COVID Tax Tip Common questions about the advance Child Tax Credit payments 

https://www.irs.gov/newsroom/common-q...

https://accountinginstruction.info/

The advance Child Tax Credit allows qualifying families to receive early payments of the tax credit many people may claim on their 2021 tax return during the 2022 tax filing season.

IRS provides relief for certain employers claiming the Work Opportunity Tax Credit

 https://www.irs.gov/newsroom/irs-prov... 

https://accountinginstruction.info/

Treasury, IRS provide gross receipts safe harbor for employers claiming the Employee Retention Credit 

https://www.irs.gov/newsroom/treasury... 

https://accountinginstruction.info/

The Department of the Treasury (Treasury) and the Internal Revenue Service (IRS) today issued a safe harbor allowing employers to exclude certain items from their gross receipts solely for determining eligibility for the Employee Retention Credit (ERC).

Tax security tip: Get an IP PIN to help stop identity thieves 

https://www.irs.gov/newsroom/tax-secu...

https://accountinginstruction.info/

The IRS and its Security Summit partners recently kicked off their annual summer campaign. This year's theme, Boost Security Immunity: Fight Against Identity Theft, urges tax pros to step up their efforts to protect client data.

Security Summit warns tax pros to be wary of pandemic-related email schemes 

https://www.irs.gov/newsroom/security...

https://accountinginstruction.info/

In a continuing twist on a common scam, the Internal Revenue Service, state tax agencies and tax industry today warned tax professionals to beware of evolving phishing scams that use various pandemic-related themes to steal client data.

IRS Tax Tip Financial safety: The often forgotten piece of disaster preparedness

 https://www.irs.gov/newsroom/financia...

https://accountinginstruction.info/

After a natural disaster, having access to personal financial, insurance, medical and other records can help people starting the recovery process quickly.

COVID Tax Extension filers: IRS Free File, other resources available until Oct. 15 for 2020 tax returns

 https://www.irs.gov/newsroom/extensio

https://accountinginstruction.info

The IRS reminds taxpayers who filed extensions for their 2020 tax return that electronic filing, payment and other options for help with taxes are available until the October 15 deadline.

Treasury, IRS provide additional guidance to employers claiming the employee retention credit, including for the third and fourth quarters of 2021 https://www.irs.gov/newsroom/treasury... 

https://accountinginstruction.info/

The Treasury Department and the Internal Revenue Service today issued further guidance on the employee retention credit, including guidance for employers who pay qualified wages

IRS Tax Tip Multi-factor authentication is essential to protecting against data theft

 https://www.irs.gov/newsroom/multi-fa...

https://accountinginstruction.info/

The IRS and its Security Summit partners recently kicked off their annual summer campaign.

IRS reminds heavy vehicle owners of August 31 highway use tax return deadline 

https://www.irs.gov/newsroom/irs-remi

https://accountinginstruction.info

The Internal Revenue Service reminds those who have registered, or are required to register, large trucks and buses