Tax & Current Accounting Topics

IRS extends additional tax deadlines for individuals to May 17 

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

​ https://accountinginstruction.info/

​WASHINGTON — The Internal Revenue Service today announced that individuals have until May 17, 2021

COVID Tax Tip People should check Get My Payment for status of third EIP and watch their mail 

https://www.irs.gov/newsroom/people-s

​The IRS continues to issue the third round of Economic Impact Payments to eligible individuals,

IRS warns university students and staff of impersonation email scam 

https://www.irs.gov/newsroom/irs-warn...​ 

https://accountinginstruction.info/

IRS projects stimulus payments to non-filer Social Security and other federal beneficiaries will be disbursed later this week https://www.irs.gov/newsroom/irs-proj...

​ https://accountinginstruction.info/

COVID Tax Tip Here’s how taxpayers can track the status of their refund https://www.irs.gov/newsroom/heres-ho...

​Tracking the status of a tax refund is easy with the Where's My Refund? tool. It's conveniently accessible at IRS.gov or through the IRS2Go App.

Face masks and other personal protective equipment to prevent the spread of COVID-19 are tax deductible 

https://www.irs.gov/newsroom/face-mas

https://accountinginstruction.info

​WASHINGTON — The Internal Revenue Service issued Announcement 2021-7 PDF today clarifying that the purchase of personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of coronavirus are deductible medical expenses.

People who adopt may benefit from this special tax credit 

https://www.irs.gov/newsroom/people-w

​ https://accountinginstruction.info

​The adoption process can be expensive. Fortunately, the adoption tax credit can help offset some those expenses Taxpayers who adopted or started the adoption process in 2020 should review the rules for this credit.

J5 countries host ‘Challenge’ aimed at FINtech companies 

https://www.irs.gov/newsroom/j5-count

https://accountinginstruction.info/

​WASHINGTON — The Joint Chiefs of Global Tax Enforcement (J5) brought together investigators, cryptocurrency experts and data scientists in a coordinated push to track down individuals and organizations perpetrating tax crimes around the world this week.

IRS Criminal Investigation (CI) pledges continued commitment to investigating COVID-19 fraud as CARES Act reaches one-year anniversary https://www.irs.gov/newsroom/irs-crim

​ https://accountinginstruction.info

​WASHINGTON — The Internal Revenue Service's Criminal Investigation Division (IRS-CI) marks the one-year anniversary of the Coronavirus Aid, Relief and Economic Security (CARES) Act by pledging its continued commitment to investigating COVID-19 fraud.

IRS, Treasury disburse another 37 million Economic Impact Payments from the American Rescue Plan 

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

​ 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 are disbursing approximately 37 million payments in the second batch of Economic Impact Payments from the American Rescue Plan.