by Patricia Parrilla Tax Services | Apr 30, 2020 | Tax Tips and News
It’s not often that a federal tax gets high marks for its results, but the Tax Foundation points to one in particular that hits the bullseye. The foundation’s Ulrik Boesen writes that an excise tax on firearms and other hunting and fishing gear is feeding tax proceeds...
by Patricia Parrilla Tax Services | Apr 28, 2020 | Tax Tips and News
The Internal Revenue Service wants to make sure taxpayers timely receive their Economic Impact Payments, which is why they worked with the tax industry to develop online reporting and tracking tools for IRS.gov. While non-filers receiving Supplemental Security Income...
by Patricia Parrilla Tax Services | Apr 25, 2020 | Tax Tips and News
The CARES Act removes an ACA limitation on using FSA, HSA, and HRA funds to pay for over-the-counter medication. The CARES Act—famous for authorizing the $1,200 Economic Impact Payments that Americans have begun receiving—also includes important, coronavirus-related...
by Patricia Parrilla Tax Services | Apr 25, 2020 | Tax Tips and News
The U.S. Treasury Department and the Internal Revenue Service say they’ve delivered 88 million stimulus payments to taxpayers during the first three weeks of the program. As of April 17, the IRS issued 88.1 million of the Economic Impact Payments (EIPs) to individual...
by Patricia Parrilla Tax Services | Apr 24, 2020 | Tax Tips and News
The April 23, 2020, IRS “Economic Impact Payment Discussion” webinar is postponed! The IRS announced that today’s “Economic Impact Payment Discussion” webinar has been postponed. The notification did not cite any specific reason for the postponement, but organizations...
Patricia Parrilla Tax Services