Federal Tax | Cg Tax, Audit & Advisory

29 Aug

IRS Relief for Checks

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August 28, 2020

Due to delays in processing, the IRS is providing relief from bad check penalties for dishonored checks it received between March 1, 2020, and July 15, 2020. The IRS says that if a taxpayer...

28 Aug

Federal Tax

Less Paperwork for Business Identity Theft

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August 28, 2020

Less paperwork is required if a business wants to report to the IRS that it’s a victim of identity theft. The IRS has revised a form that must be filed so that it no...

26 Aug

Federal Tax

Retirement Distributions Deadline

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August 25, 2020

The deadline to return distributions to certain retirement accounts is coming up. IRA owners, beneficiaries or workplace retirement plan participants who received a required minimum distribution (RMD) this year have until Aug. 31 to...

24 Aug

Coronavirus Tax Filing & Payment, Federal Tax

Tax Refund Interest Payments

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August 24, 2020

The IRS is sending tax refund interest payments. The IRS announced the payments will be made to about 13.9 million individual taxpayers. The interest payments, averaging about $18, will be made to individuals who...

24 Aug

Federal Tax

October 15 Deadline Not Far Away

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August 24, 2020

Did you ask for an extension for your 2019 tax return this year? If so, keep in mind that Oct. 15, 2020 is the last day to file for most people who requested an...

22 Aug

Coronavirus Tax Filing & Payment, Federal Tax

IRS Reopens Registration Period for Child EIPs

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August 20, 2020

The IRS has reopened the registration period for those who didn’t receive $500-per-child Economic Impact Payments (EIPs) earlier this year. Certain federal benefit recipients are urged to use the IRS’s “Non-Filers tool” from 8/15/20...

21 Aug

Coronavirus Tax Filing & Payment, Federal Tax, Helpful COVID-19 Links

IRS Updates EIP Webpage to Help Those Without Stimulus Payments

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August 20, 2020

The IRS has updated its Economic Impact Payment webpage to help people who haven’t received COVID-19 stimulus payments. A new FAQ details a paper alternative to the “Non-Filers tool” for individuals who weren’t required...

19 Aug

Federal Tax

Renew Expiring ITINs

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August 19, 2020

If you have an expiring Individual Taxpayer Identification Number (ITIN), renew it soon to avoid delays next year (including delayed refunds). The IRS issues ITINs to people who must file U.S. tax returns, but...

19 Aug

Federal Tax

Tax Savings From 2020 Higher Education Costs

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August 19, 2020

Higher education may not look traditional this year, in light of COVID-19. But whether classes are taken online, part or full-time, education can be expensive. The IRS is reminding taxpayers who pay eligible costs...

18 Aug

Federal Tax

Start Prepping for 2021

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August 13, 2020

No one likes to think about income tax returns before they have to. But if you start preparing now for 2021, it’ll make things easier when tax time comes. Everyone should have a system...

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