Tax & Current Accounting Topics

EITC Awareness Day: Critical tax credit provides a significant refund boost to millions 

https://www.irs.gov/newsroom/eitc-awa...

​ https://accountinginstruction.info/

​IR-2021-25, January 29, 2021  WASHINGTON — The Internal Revenue Service and partners across the nation remind taxpayers about the Earned Income Tax Credit today on "EITC Awareness Day" 2021. The IRS and partners nationwide urge people to check to see if they qualify for this important credit.

IRS offers guidance to taxpayers on identity theft involving unemployment benefits 

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

https://accountinginstruction.info/​ 

WASHINGTON – The Internal Revenue Service today urged taxpayers who receive Forms 1099-G for unemployment benefits they did not actually get because of identity theft to contact their appropriate state agency for a corrected form.

2021 tax filing season set to begin February 12 

https://www.irs.gov/newsroom/2021-tax...

​ COVID Tax Tip 2020-09, January 28, 2021  The IRS will begin accepting and processing 2020 tax year returns on Friday, February 12, 2021.

Tax resources for military members, veterans and their families 

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

https://accountinginstruction.info/

The IRS has a variety of resources to help members of the military, veterans and their families navigate the unique and sometimes complex circumstances that come with filing taxes while in the military.

Important reminders before filing 2020 tax returns 

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

 https://accountinginstruction.info/

WASHINGTON — Following an unpredictable year with many changes and challenges, the Internal Revenue Service today shared important reminders for taxpayers who are about to file their 2020 federal tax returns.

New law extends COVID tax credit for employers who keep workers on payroll 

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

WASHINGTON — The Internal Revenue Service urges employers to take advantage of the newly-extended employee retention credit, designed to make it easier for businesses that, despite challenges posed by COVID-19, choose to keep their employees on the payroll.

IRS News - All taxpayers are now eligible for identity protection PINs 

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

https://accountinginstruction.info/

The IRS has expanded the Identity Protection PIN Opt-In Program to all taxpayers who can verify their identity.

What taxpayers need to know to claim the earned income tax credit 

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

IRS Tax Tip

New IRS "Submit Forms 2848 and 8821 Online" offers contact-free signature options for tax pros and clients sending authorization forms https://www.irs.gov/newsroom/new-irs-... 

https://accountinginstruction.info/

WASHINGTON – The Internal Revenue Service today rolled out a new online option that will help tax professionals remotely obtain signatures from individual and business clients and submit authorization forms electronically.

Get a federal tax refund faster with direct deposit

 https://www.irs.gov/newsroom/get-a-fe...

https://accountinginstruction.info/

WASHINGTON — The Internal Revenue Service today reminds taxpayers that the fastest way to get their tax refund is by filing electronically and choosing direct deposit.