by Patricia Parrilla Tax Services | Feb 28, 2021 | Tax Tips and News
The Internal Revenue Service has issued an alert covering amended returns and claims for the Domestic Production Activities Deduction, also known as DPAD. This provision of tax law was repealed as part of the Tax Cuts and Jobs Act for taxable years after Dec. 31,...
by Patricia Parrilla Tax Services | Feb 27, 2021 | Tax Tips and News
Taxpayers with income from farming or fishing face a March 1 deadline for filing their income taxes. But the IRS reminds them they can avoid making any estimated tax payments by filing and paying their entire tax due on or before the deadline. The rule generally...
by Patricia Parrilla Tax Services | Feb 26, 2021 | Tax Tips and News
Unemployment claims may have fallen since the initial months of the pandemic, but millions of Americans continue to struggle with long-term joblessness and medical bills caused by the coronavirus. While a third round of federal Economic Impact Payments is expected...
by Patricia Parrilla Tax Services | Feb 25, 2021 | Tax Tips and News
Texas taxpayers impacted by this month’s brutal winter storms are getting some help from the Internal Revenue Service. The help includes extended deadlines and other relief measures. The entire state of Texas is included disaster declaration issued by the Federal...
by Patricia Parrilla Tax Services | Feb 21, 2021 | Tax Tips and News
Tax professionals across the country have undoubtedly served clients who lost health insurance due to layoffs, a reduction in work hours, or another issue stemming from the coronavirus pandemic. The one-two punch of reduced income and possible uninsured medical...
Patricia Parrilla Tax Services