Tax & Current Accounting Topics

COVID Tax Tip  IRS offers information and resources in a variety of multilingual and alternative formats 

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

https://accountinginstruction.info/

As part of an ongoing effort to increase multilingual outreach, the IRS offers tax information in multiple languages. IRS.gov pages have links to any available translations on the right side, just below the title. Languages currently available include Spanish, Chinese simplified and traditional, Korean, Russian, Vietnamese and Haitian-Creole.

New FAQs available to aid families and small business under the American Rescue Plan 

https://www.irs.gov/newsroom/new-faqs...

https://accountinginstruction.info/

Information for enhanced 2021 child and dependent care tax credits; updated paid sick and family leave credits for Q2 and Q3 of 2021 IR-2021-128, June 11, 2021

IRS Tax Tip Homeownership and taxes: Things taxpayers should consider when selling a house h

ttps://www.irs.gov/newsroom/homeowne

https://accountinginstruction.info

It's important for taxpayers to understand how selling their home may affect their tax return. When filing their taxes, they may qualify to exclude all or part of any gain from the sale from their income.

More than 2.3 million additional Economic Impact Payments disbursed under the American Rescue Plan; total payments top 169 million https://www.irs.gov/newsroom/more-tha... 

https://accountinginstruction.info/

The Internal Revenue Service, the U.S. Department of the Treasury, and the Bureau of the Fiscal Service announced today they have disbursed more than 2.3 million additional Economic Impact Payments under the American Rescue Plan.

IRS Tax Tip Here’s how saying “I do” can affect a couple’s tax situation 

https://www.irs.gov/newsroom/heres-ho

https://accountinginstruction.info/

The arrival of summer is also the start of wedding season. Marriage changes many things and taxes is one of them. Newlyweds should know how tying the knot can affect their tax situation.

IRS reminder: Approaching June 15 deadline for second quarter estimated tax payments

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

WASHINGTON — The Internal Revenue Service reminds taxpayers who pay estimated taxes that they have until June 15 to pay their estimated tax payment for the second quarter of tax year 2021 without penalty.

IRS Procurement office to hire 80 new employees nationwide, including contract specialists 

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

https://accountinginstruction.info/

WASHINGTON — The Internal Revenue Service is looking to hire motivated acquisition professionals interested in providing America's taxpayers top quality service. The agency's Procurement office plans to fill 80 vacancies nationwide, many of which are contract specialists.

IRS Tax Tip Here’s how taxpayers can pay the right amount of tax throughout the year 

https://www.irs.gov/newsroom/heres-ho...

https://accountinginstruction.info/

Federal taxes are pay-as-you-go. This means that people need to pay most of their tax during the year, as they earn income. This can be done either through withholding or estimated tax payments.

IRS sending letters to more than 36 million families who may qualify for monthly Child Tax Credits; payments start July 15 https://www.irs.gov/newsroom/irs-send... 

https://accountinginstruction.info/

WASHINGTON — The Internal Revenue Service has started sending letters to more than 36 million American families who, based on tax returns filed with the agency, may be eligible to receive monthly Child Tax Credit payments starting in July.

Tax pros can earn continuing education credits during virtual IRS Tax Forum 

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

https://accountinginstruction.info/

The 2021 Virtual IRS Nationwide Tax Forum will be held over five weeks, July 20 through August 19, with a series of live-streamed webinars every Tuesday, Wednesday and Thursday. These events will be virtual.