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My client has two more dependents she is claiming for 2020. The first stimulus was 1700 for her and one dependent the Recovery rebate credit is generating 1000 ... read more17 8
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With a reverse mortgage loan, we know that interest is not tax deductible until actually paid. For example, a paydown on the loan balance would generate some pa... read more6 3
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I have a client who just told me she has not received her 2019 refund or any stimulus checks. It's a rather substantial refund as she is a single mom with 3 chi... read more
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Can anyone guide me towards what type of documentation I will be required to retain for these credits. I have searched far and wide and can’t see... read more18 15
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Does charity donations made in 2021 before April 15, 2021 qualify for charity contribution for 2020?
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Mostly the same blah blah blah. Important numbers: Still nearly 7 million 2020 returns not processed. How many people will be working on these... read more
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I came to the office today expecting to help out a client who had received a notice from the Texas Workforce Commission that his claim for unemployment benefits... read more
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WASHINGTON, DC—As the second round of economic impact payments (EIPs) begins to be distributed, the Internal Revenue Service (IRS) announced today that it would... read more
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The Final return is filed and the Administrator of the Estate pays the beneficiaries.The IRS decides to audit the return afterwards. What happens? A... read more
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My wife operates an antique mall engaged in the rental of space to vendors to sell their goods. She receives income from booth rental and commission... read more
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I was invited by my accountant to connect with him via Intuit. After clicking "ACCEPT", I get the login page. After I login I get the message: "As a taxpay... read more
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was date extended1 3
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A recent report from TIGTA highlights the IRS’s inconsistent treatment of millions of e-filed returns that have errors. IRS e-file processes consider an e-filed... read more0 0
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As the U.S. Treasury rushes to distribute second stimulus payments, many Americans learned this week that they will not receive the $600 until they file their 2... read more
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How should PPP loan forgiveness be handled on 1120? Should it be an M-1 Book-Tax adjustment or M-2 Other increases to RE?
