How might they affect you, and what do we know for sure? The only thing we know for certain at this point is that there will be a lot of changes. Over the last 36 years I’ve almost always refrained from writing about changes to the tax code until they actually become law. Often times,…

Sept. 15, Oct. 15 deadlines, other dates further extended to Jan. 3 for parts of Mississippi; Nov. 1 deadline still applies to the rest of the state. Victims of Hurricane Ida in parts of Mississippi now have additional time–until Jan. 3, 2022–to file various individual and business tax returns and make tax payments, the Internal…

The right to finality …. When the Pandemic of 2020 hit, the Internal Revenue Service did not have an adequate plan in place to deal with a work stoppage. Many aspects of the IRS operate on computer automated algorithms. Those automated processes were put in place based on the assumption that human intervention would always…

Here’s how a taxpayer’s custody situation may affect their advance child tax credit payments Parents who share custody of their children should be aware of how the advance child tax credit payments are distributed. It is important to remember that these are advance payments of a tax credit that taxpayers expect to claim on their…

Tax relief now available to victims of Hurricane Ida; Oct. 15 deadline, other dates extended to Jan. 3 Victims of Hurricane Ida that began on Aug. 26 now have until Jan. 3, 2022, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today. The IRS is offering…

Businesses, charities, others with Employer Identification Numbers must update responsible party information within 60 days of any change. Calling it a key security issue, the Internal Revenue Service today urged those entities with Employer Identification Numbers (EINs) to update their applications if there has been a change in the responsible party or contact information. IRS…