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2020 Tax Filing begins February 12th
The 2021 tax season will start on Friday, Feb. 12, 2021, when the IRS will begin accepting and processing 2020 tax year returns. The Feb. 12 start date for individual tax return filers allows [...]
What Tax Credits to Claim & What Deductions to Take
When people get ready to file their federal tax return there are new things to consider when it comes to which credits to claim and what deductions to take. These things can affect the [...]
Paycheck Protection Program to Include Expenses
Eligible Paycheck Protection Program expenses now deductible. WASHINGTON – The Treasury Department and the Internal Revenue Service issued guidance today allowing deductions for the payments of eligible expenses when such payments would result (or [...]
COVID-19 Relief Bill
Simplified application & other terms of note... The new COVID-19 relief bill: Creates a simplified forgiveness application process for loans of $150,000 or less. Specifically, a borrower shall receive forgiveness if a borrower signs [...]
IRS Issues Standard Mileage Rates for 2021
WASHINGTON — The Internal Revenue Service today issued the 2021 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. [...]
Tax Appointments & #COVID-19
SO it is official tax season’s deadline has been extended to July 15th 2020, however please confirm with your states to see if they are also going along with the new deadline. This is [...]