IRS Grants Relief for COVID-19 Disruptions on Tax Residency: Time Rules Are Eased for the Substantial Presence Test for Foreign Citizens in the US and the Foreign Earned Income Exclusion for US Citizens AbroadThe IRS provided relief to individuals and businesses whose tax residence might be ...
The IRS plans to notify 9 million Americans who may be eligible for a government stimulus check but who have yet to claim the relief payment. That mostly pertains to people who typically don't file a federal income tax return, the agency said Tuesday. They will have until October 15 to r...
The IRS has extended a number of COVID-19 relief measures for qualified opportunity funds and their investors. This relief is welcome news for many, and we’ll bring you up to speed quickly. READ NOW Related Content Qualified Opportunity Zones: Fundamentals Learn the...
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When properly claimed, the ERC – also referred to as the Employee Retention Tax Credit or ERTC—is a refundable tax credit designed for businesses that continued paying employees during the COVID-19 pandemic while t...
Nearly five million consumers will receive the COVID-19 era penalty relief Read article 12/21/2023 By Kristen Dalli IRS unveils new brackets and other tax changes for 2024 Give and save? A tax expert shares the benefit magic of 'gifting.' Read article 11/13/2023 By Gary Guthrie Surprise,...
Face masks, sanitizer, and other forms of personal protective equipment are medical expenses if they are used to stop the spread of COVID-19- posted March 26, 2021. More details hereand onthe Medical Expense page. Many qualified medical expenses can be reported in order to lower your taxable...
March 13, 2021 admin Trading Ideas Comments Off on When will I get my third stimulus check? IRS begins sending first round of $1,400 COVID-19 relief payments …read more Source:: Yahoo Finance Get our FREE Newsletter! Discover Stocks with +1,000%...
It is also import for taxpayers who received a COVID-19 relief Economic Impact Payment last year or who got an advance Child Tax Credit payment to make sure they report the correct amount on their tax returns to avoid processing delays, Rettig said. ...
"While the overwhelming majority of taxpayers file electronically, taxpayers who file paper returns are experiencing extreme delays in processing their returns," the report said, adding: "Many taxpayers are facing financial hardship associated with the COVID-19 crisis and need the IRS to process thei...