Article Highlights:
CARES Act Moratorium
RMD Resumptions
Age Considerations
Figuring out the RMD Amount
Penalty for Not Taking an RMD
No Maximum Limit
IRA-to-Charity Transfers
As part of the CARES Act, the requirement…
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As if this past year with all of its pandemic perils has not been stressful enough, the Office of the Inspector General for the Department of Labor has just added to our anxieties by announcing that at least at least $36 billion and possibly…
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Article Highlights:
Charitable Contributions
Educator Expenses
Performing Artist Expenses
State and Local Government Officials’ Expenses
Health Savings Account Contributions
Moving Expenses for Members of the Armed Forces
…
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Article Highlights
Prior Filed Returns with Unemployment Income
American Rescue Plan’s $10,200 Exclusion
IRS Automatic Adjustment
Refund Application
When an Amended Return Might Be Required
The IRS announced on March 31,…
https://www.islernw.com/wp-content/uploads/2021/04/IRS-to-Automatically-Adjust-Prior-Filed-2020-Returns-with-Unemployment-Income.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2021-04-04 00:21:582021-04-04 00:21:58IRS to Automatically Adjust Prior Filed 2020 Returns with Unemployment Income
Article Highlights:
Employment (Earned) Income
Earned Income Tax Credit (EITC)
Child Tax Credit (CTC)
2019 or 2020 Earned Income
Credit Qualifications
Because of the pandemic, many individuals have seen…
https://www.islernw.com/wp-content/uploads/2021/04/Special-Rules-Apply-to-2020-EITC-and-Child-Credit.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2021-04-04 00:09:052021-04-04 00:09:45Special Rules Apply to 2020 EITC and Child Credit
April 2021 Individual Due Dates
April 12 - Report Tips to Employer
If you are an employee who works for tips and received more than $20 in tips during March, you are required to report them to your employer on IRS Form 4070 no later than…
https://www.islernw.com/wp-content/uploads/2021/04/April-May-2021Tax-Due-Dates.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2021-04-01 23:53:422021-04-03 23:54:02April 2021 Tax Due Dates
https://www.islernw.com/wp-content/uploads/2021/04/Dont-Miss-Out-on-Tax-Credits.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2021-03-30 05:02:352021-04-04 03:15:07Don’t Miss Out on Tax Credits
Article Highlights:
Phone Scams
E-Mail Phishing
What’s in Your Purse or Wallet?
What You Should Never Do
Fake Charities
Protecting Against Identity Theft
Thieves use taxpayers’ natural fear of the IRS and other government…
https://www.islernw.com/wp-content/uploads/2021/04/Dont-Be-A-Victim-to-IRS-Impersonating-Scammers.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2021-03-26 02:53:372021-04-04 02:54:20Don’t Be A Victim to IRS-Impersonating Scammers
Article Highlights:
Depreciation
Material & Supply Expensing
De Minimis Safe Harbor Expensing
Routine Maintenance
Bonus Depreciation
Section 179 Expensing
Thanks to some very liberal tax laws written to encourage investment…
https://www.islernw.com/wp-content/uploads/2021/04/How-toExpense-Business-IT-Purchases.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2021-03-26 01:02:162021-04-04 03:03:24You Can Expense Business IT Purchases
Article Highlights:
American Rescue Plan Expanded
One-Year-Only Change
Refundability
Child Care Expenses
Credit Percentage
Maximum Credit
Credit Phaseout
Employer-Provided Dependent Care Assistance
Great news if…
https://www.islernw.com/wp-content/uploads/2021/04/Great-News-Child-Care-Tax-Credit-Expanded-for-2021.jpg320845IslerNWhttps://www.islernw.com/wp-content/uploads/2013/12/header_logo_trans.pngIslerNW2021-03-18 06:35:132021-04-04 03:36:14Great News, Child Care Tax Credit Expanded for 2021
Required Minimum IRA Distributions Will Resume in 2021
2021 Tax Laws, CARES Act 2020, IRAs & RMDs, Tax News, Tax PlanningUnemployment Fraudsters May Create a Tax Nightmare for Unsuspecting Taxpayers
CARES Act 2020, COVID-19, Scams, Security, Tax News, Tax TipsTax Deductions Without Itemizing
2020 Tax Laws, 2021 Due Dates, Deductions, Health Savings Accounts, Tax Planning, Tax TipsIRS to Automatically Adjust Prior Filed 2020 Returns with Unemployment Income
2021 Tax Laws, ARPA, COVID-19, EITC, Tax Credits, Tax News, Tax Planning, Tax TipsSpecial Rules Apply to 2020 EITC and Child Credit
2021 Tax Laws, EITC, Tax Credits, Tax Tips, TaxesApril 2021 Tax Due Dates
2021 Due Dates, 2021 Tax Laws, COVID-19Don’t Miss Out on Tax Credits
2021 Tax Laws, Deductions, EITC, Tax Credits, Tax News, Tax Planning, Tax TipsDon’t Be A Victim to IRS-Impersonating Scammers
Identity Theft, Scams, TechnologyYou Can Expense Business IT Purchases
2021 Tax Laws, Deductions, Tax Planning, Tax Tips, TaxesGreat News, Child Care Tax Credit Expanded for 2021
2021 Tax Laws, ARPA, Deductions, Tax Credits, Tax News, Tax Planning, Tax Tips