by Patricia Parrilla Tax Services | Jul 31, 2020 | Tax Tips and News
Taxpayers can dip into Coronavirus Aid, Relief, and Economic Security Act-specified retirement accounts without suffering a penalty, according to an Internal Revenue Service press release published yesterday. The reminder comes days after the $600 unemployment...
by Patricia Parrilla Tax Services | Jul 30, 2020 | Tax Tips and News
The Tax Cuts and Jobs Act (TCJA) of 2017 famously adjusted the income tax brackets and lowered the corporate tax rate to 21 percent, but the sweeping legislation contained a host of tax-related changes. The Coronavirus Aid, Relief, and Economic Security (CARES) Act of...
by Patricia Parrilla Tax Services | Jul 29, 2020 | Tax Tips and News
The Security Summit’s “Working Virtually: Protecting Tax Data at Home” campaign will stretch over five weeks, providing remote-work data security recommendations for tax professionals. Whether you are a work-from-home veteran or were forced to convert the dining room...
by Patricia Parrilla Tax Services | Jul 28, 2020 | Tax Tips and News
The Internal Revenue Service has issued new guidance to reconcile advance payments of refundable employment tax credits and recapture the benefit of those credits when needed. The guidance is provided in a temporary regulation and a proposed regulation. The...
by Patricia Parrilla Tax Services | Jul 25, 2020 | Tax Tips and News
Internal Revenue Service Commissioner Chuck Rettig had high praise for the nation’s tax professionals this week, as he addressed the IRS Nationwide Tax Forum. The event, usually held in various cities around the U.S., was forced online this year by the pandemic. In...
Patricia Parrilla Tax Services