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One of the relief provisions included in the CARES Act was the temporary suspension of the normal 60% of adjusted gross income limitation for cash contributions made to qualified charities during 2020.
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Exemplary service toward the advancement, stewardship and promotion of the accounting profession and selfless contributions to the community
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IRS announces 2021 Tax Counseling for the Elderly and Volunteer Income Tax Assistance Program Grants
The Internal Revenue Service recently awarded over $36 million in Tax Counseling for the Elderly and Volunteer Income Tax Assistance grants PDF to organizations that provide free federal tax return preparation.
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No matter how devastating a disaster is, before the IRS can authorize any tax relief, FEMA must issue a major disaster declaration and identify areas qualifying for their Individual Assistance program. Here's a list of tax-related things that usually happen after a major disaster strikes.
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The Internal Revenue Service reminds the nation's more than 780,000 active tax return preparers to start the upcoming 2021 filing season smoothly by renewing their Preparer Tax Identification Numbers (PTINs) now. All current PTINs will expire December 31, 2020.
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Help is available for taxpayers who need tax information for prior years, but who didn't keep copies of their returns. There are options for helping taxpayers get the information they need.
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After a misworded posting caused confusion about the 2020 deadline to file FBARs (i.e., FinCEN Form 114, Report of Foreign Bank and Financial Accounts (FBAR)), Treasury’s Financial Crimes Enforcement Network (FinCEN) has extended the deadline to Oct. 31.
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The Internal Revenue Service is combating fraud by once again joining organizations around the world to highlight the third annual International Charity Fraud Awareness Week, October 19-23.
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Victims of Hurricane Delta that began on October 6 now have until February 16, 2021 to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.
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Victims of the California wildfires that began on September 4 now have until January 15, 2021, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.
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No one can fully prepare for a disaster, but knowing what resources are available beforehand can make the recovery a little easier.
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Today is the filing extension deadline. Most taxpayers who requested an extension of time to file their 2019 tax return must file today.