Tax Updates

• IRS announces 2021 Tax Counseling for the Elderly and Volunteer Income Tax Assistance Program Grants October 22, 2020
  IR-2020-239, October 21, 2020 WASHINGTON — The Internal Revenue Service recently awarded over $36 million in Tax Counseling for the Elderly and Volunteer Income Tax Assistance grants PDF to organizations that provide free federal tax return preparation. This year, the IRS awarded grants to 34 TCE and 273 VITA applicants. The IRS received 354 applications requesting nearly $80 […]
• October 15 deadline nears for taxpayers who requested tax filing extensions October 9, 2020
  Taxpayers should file electronically and request direct deposit for refunds IR-2020-231, October 7, 2020 WASHINGTON — The Internal Revenue Service today reminds taxpayers who filed an extension that the October 15 due date to file their 2019 tax return is near. Taxpayers should file their tax returns on or before the October 15 deadline. For […]
• IRS expands enforcement focus on abusive micro-captive insurance schemes; taxpayers urged to consult independent tax advisor before Oct. 15 filing deadline October 5, 2020
  IR-2020-226, October 1, 2020 WASHINGTON — With the October 15 filing deadline quickly approaching, the Internal Revenue Service today encouraged taxpayers to consult an independent tax advisor if they participated in a micro-captive insurance transaction. The IRS encourages any taxpayer who has continued to engage in an abusive micro-captive insurance transaction to not anticipate being able […]