Update on 1040 Virtual Currency Question
On the 2020 Form 1040 we are required to answer this question: "At any time during [the prior year], did you receive, sell, send, exchange, or otherwise acquire any financial...
22 March, 2021
Tax Planning Tag
IRS Extends Tax Deadlines for Texas Winter Storm Victims
Authored by the IRS | IR-2021-43, February 22, 2021 Victims of this month's winter storms in Texas will have until June 15, 2021, to file various individual and business tax returns...
23 February, 2021
Third Stimulus Check: Should I File My Tax Return Now or Later?
Will I qualify for a third stimulus check? Should I file my tax return now or later? We recommend you provide your information to us as soon as possible. We...
23 February, 2021
Virtual Currency – Reporting & Enforcement Update
2020 has been a year we would all like to forget in many ways. But it has been a banner year for the virtual currency world. After a slow and...
07 February, 2021
2020 COVID Relief Affecting Individual Taxpayers
Tax Season is here. Before you gather and submit your 2020 tax information, here are a few things you need to know. Below is an overview of key provisions in...
26 January, 2021
Get an IRS Identity Protection PIN by Feb. 12
ACTION REQUIRED! We strongly recommend all individual taxpayers apply for an IRS issued Identity Protection Personal Identification Number (IP PIN). This should be done before the IRS opens up e-filing...
19 January, 2021
New Stimulus Bill and PPP Updates
On Dec. 22, 2020, Congress passed the latest COVID-19 Relief Bill. This is the largest bill ever passed by Congress at over 5,500 pages. It contains over $900 billion of...
22 December, 2020
QuickBooks: S-Corp Year-End Adjustments
Attention S-Corp Owners: Now is the time to make year-end QuickBooks adjustments. Don’t forget to add medical health insurance premiums to officer’s W-2s. Check boxes 1 and 14. S-Corp medical health...
14 December, 2020