Tax & Current Accounting Topics

Twenty-four new members join the 2021 Taxpayer Advocacy Panel 

https://www.irs.gov/newsroom/twenty-f...

​ https://accountinginstruction.info/

​WASHINGTON — The Internal Revenue Service recommended, and the Department of the Treasury has approved, the selection of 24 new members to serve on the Taxpayer Advocacy Panel for 2021.

Co-Instructor Spanish Voice Over Offers in languages other than Spanish also welcome

IRS Tax Tip Taxpayers should beware of ghost preparers 

https://www.irs.gov/newsroom/taxpayer...​ 

https://accountinginstruction.info/

​people begin to file their 2020 tax returns, taxpayers are reminded to avoid unethical ghost tax return preparers.

As required by law, all first and second Economic Impact Payments issued; eligible people can claim Recovery Rebate Credit https://www.irs.gov/newsroom/as-requi

​ https://accountinginstruction.info/

​WASHINGTON – The IRS announced today that, as required by law, all legally permitted first and second round of Economic Impact Payments have been issued and the IRS now turns its full attention to the 2021 filing season.

Free File can make taxes easier for seniors and retirees

 https://www.irs.gov/newsroom/free-fil...​ 

https://accountinginstruction.info/

​In times like these, every penny counts. This is especially true for taxpayers on a fixed income. Many of these are seniors and retirees who can file their taxes for free. Free File offers online tax preparation, direct deposit of refunds and electronic filing.

Get ready for tax season using IRS Online Account 

https://www.irs.gov/newsroom/get-read...

​ https://accountinginstruction.info/

​WASHINGTON — The Internal Revenue Service today reminded taxpayers they can securely access their IRS account information through their individual online account.

What taxpayers need to know about claiming the credit for other dependents 

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

​ https://accountinginstruction.info/

​Taxpayers with dependents who don't qualify for the child tax credit may be able to claim the credit for other dependents.  The maximum credit amount is $500 for each dependent who meets certain conditions. These include:

Avoid pandemic paper delays: Use e-file with direct deposit for faster refunds as IRS prepares to open 2020 filing season https://www.irs.gov/newsroom/avoid-pa

​ https://accountinginstruction.info/

​WASHINGTON – With filing season opening on February 12, the Internal Revenue Service urged taxpayers to take some simple steps to help ensure they file accurate tax returns and speed their tax refunds to avoid a variety of pandemic-related issues.

IRS, Summit partners issue urgent EFIN scam alert to tax professionals 

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

​ https://accountinginstruction.info/

​WASHINGTON — The Internal Revenue Service, state tax agencies and tax industry today warned tax professionals of a new scam email that impersonates the IRS and attempts to steal Electronic Filing Identification Numbers (EFINs).

Common and costly errors taxpayers should avoid when preparing a tax return COVID Tax Tip https://www.irs.gov/newsroom/common-a...

​Electronically filing a tax return reduces errors because the tax software does the math, flags common errors and prompts taxpayers for missing information. It can also help taxpayers claim valuable credits and deductions.