Tax & Current Accounting Topics

COVID Tax Tip - Answers to tax questions are available anytime on IRS.gov 

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

​ https://accountinginstruction.info

​IRS.gov is always available and has tools to help people file and pay taxes, find information about their account, and get answers to tax questions.

COVID Tax Tip - IRS is issuing third round of Economic Impact Payments 

https://www.irs.gov/newsroom/irs-is-i

​ https://accountinginstruction.info/

​The IRS started issuing the third round of Economic Impact Payments. No action is needed by most taxpayers. The IRS will issue payments automatically by direct deposit and through the mail as a check or debit card.

The right to confidentiality is a fundamental right of all taxpayers IRS Tax Tip 

https://www.irs.gov/newsroom/the-righ

​ https://accountinginstruction.info/

​Information a taxpayer gives the IRS won't be shared with outside parties, unless allowed by the taxpayer or by law. This is the right to confidentiality. It's one of ten rights known collectively as the Taxpayer Bill of Rights.

More Economic Impact Payments set for disbursement in coming days; taxpayers should watch mail for paper checks, debit cards https://www.irs.gov/newsroom/more-eco

​WASHINGTON — The Internal Revenue Service announced today that the next batch of Economic Impact Payments will be issued to taxpayers this week, with many of these coming by paper check or prepaid debit card.

Tax Time Guide: Use the Where’s My Refund? tool or IRS2Go app to check tax refund status 

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

https://accountinginstruction.info

​The Internal Revenue Service today reminds taxpayers that the most convenient way to check on a tax refund is by using the Where's My Refund? tool at IRS.gov or through the IRS2Go Mobile App.

IRS Office of Chief Counsel unveils National Virtual Settlement Days effort this year to reach more taxpayers in more parts of the nation https://www.irs.gov/newsroom/irs-offi

​ https://accountinginstruction.info

​ The Internal Revenue Service Office of Chief Counsel has embarked on its most far-reaching Settlement Days program ever, declaring the month of March 2021 as "National Settlement Month."

Tax Day for individuals extended to May 17: Treasury, IRS extend filing and payment deadline 

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

​The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021

IRS, Treasury disbursed 90 million Economic Impact Payments from the American Rescue Plan Economic Impact Payment https://www.irs.gov/newsroom/irs-trea

​WASHINGTON – Today, the Internal Revenue Service, the U.S. Department of the Treasury and the Bureau of the Fiscal Service announced they disbursed approximately 90 million Economic Impact Payments from the American Rescue Plan.

Tax Time Guide: IRS reminds taxpayers of recent changes to retirement plans

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

https://accountinginstruction.info

​WASHINGTON — The Internal Revenue Service today reminded taxpayers about the rules for required minimum distributions (RMDs) from retirement accounts.

IRS expands help to taxpayers in multiple languages with new forms, communication preferences 

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

​ https://accountinginstruction.info/

​WASHINGTON — The Internal Revenue Service today said that it continues its efforts to expand ways to communicate to taxpayers who prefer to get information in other languages. For the first time ever, the agency has posted to IRS.gov a Spanish language version of Form 1040 PDF and the related instructions PDF.