by Patricia Parrilla Tax Services | Jan 22, 2021 | Tax Tips and News
A recently released notice allows employers who elected to defer certain employees’ taxes to withhold and pay those deferred taxes throughout 2021—instead of just the first four months of the year. The action comes in Notice 2021-11 which has been released by the...
by Patricia Parrilla Tax Services | Jan 22, 2021 | Tax Tips and News
The Internal Revenue Service has issued a notice that seeks to expand relief for funds and investors affected by the COVID-19 pandemic. Notice 2021-10 provides additional relief under section 7508A of the Internal Revenue Code for Qualified Opportunity Funds (QOFs)...
by Patricia Parrilla Tax Services | Jan 19, 2021 | Tax Tips and News
The Internal Revenue Service has set Friday, Feb. 12, 2021, as the start of the nation’s tax season. That’s the day the agency will begin accepting and processing 2020 tax year returns. The IRS says the February start date for individual returns will give it time to...
by Patricia Parrilla Tax Services | Jan 16, 2021 | Tax Tips and News
The Internal Revenue Service is reminding taxpayers that today—January 15, 2021—is the deadline for making a tax year 2020 fourth quarter estimated tax payment. The goal of the press release is to prevent taxpayers who did not pay enough tax throughout 2020 from owing...
by Patricia Parrilla Tax Services | Jan 14, 2021 | Tax Tips and News
The Internal Revenue Service submitted the Taxpayer First Act Report to Congressional leaders this week. As the name suggests, this 253-page document is required by the 2019 Taxpayer First Act—and it’s an essential step in determining how the IRS will improve the...
Patricia Parrilla Tax Services