Tax & Current Accounting Topics

IRS sending more than 2.8 million refunds to those who already paid taxes on 2020 unemployment compensation https://www.irs.gov/newsroom/irs-send...

https://accountinginstruction.info/

The Internal Revenue Service is sending more than 2.8 million refunds this week to taxpayers who paid taxes on unemployment compensation that new legislation now excludes as income.

COVID Tax Tip Looking ahead: How the American Rescue Plan affects 2021 taxes, part 2

 https://www.irs.gov/newsroom/lookin

 https://accountinginstruction.info

This is the second of two tax tips providing an overview of ways the American Rescue Plan may affect some people's 2021 taxes. Part 1 is available on IRS.gov.

COVID Tax Tip Looking ahead: How the American Rescue Plan affects 2021 taxes, part 1 

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

https://accountinginstruction.info

This is the first of two tax tips providing an overview of how the American Rescue Plan may affect some individual's 2021 taxes.

IRS reminds taxpayers living and working abroad of June 15 deadline 

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

https://accountinginstruction.info/

WASHINGTON – The Internal Revenue Service today reminded taxpayers living and working outside of the United States that they must file their 2020 federal income tax return by Tuesday, June 15. This deadline applies to both U.S. citizens and resident aliens abroad, including those with dual citizenship.

IRS seeks nominations for the 2022 Internal Revenue Service Advisory Council

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

 https://accountinginstruction.info/

WASHINGTON — The Internal Revenue Service today announced it is accepting applications for the Internal Revenue Service Advisory Council (IRSAC). Applications will be accepted through July 9, 2021.

IRS Tax Tip Identity theft protection for taxpayers in six steps

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

https://accountinginstruction.info/

Thieves are actively working to steal the taxpayer information and identities. Everyone should do everything they can to prevent identity theft.

IRS Tax Tip Understanding the taxpayer’s right to be informed 

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

https://accountinginstruction.info/

Taxpayers have the right to know what they need to do to comply with the tax laws. Not just during filing season but, all year.

IRS NEWS Interest rates remain the same for the third quarter of 2021 

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

https://accountinginstruction.info/

WASHINGTON — The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning July 1, 2021.

IRS Tax Tip Checking withholding can help taxpayers decide if they need to give their employer a new W-4 https://www.irs.gov/newsroom/checking...

 https://accountinginstruction.info/

All taxpayers should review their federal withholding each year to make sure they're not having too little or too much tax withheld.

More than 1.8 million additional Economic Impact Payments disbursed under the American Rescue Plan; total payments reach nearly 167 million https://www.irs.gov/newsroom/more-tha...

https://accountinginstruction.info/

WASHINGTON — Today, the Internal Revenue Service, the U.S. Department of the Treasury, and the Bureau of the Fiscal Service announced they have disbursed more than 1.8 million additional Economic Impact Payments under the American Rescue Plan.