2020 – 08/24 Due to delays in processing, the IRS is providing relief from bad check penalties for dishonored checks it received between March 1, 2020, and July 15, 2020. The IRS says that if a taxpayer mailed a check (either with or without a tax return), it may still be unopened in the backlog of mail the IRS is processing due to COVID-19. Any payments will be posted as of the date the IRS received them rather than the date the IRS processed them. To avoid penalties and interest, taxpayers shouldn’t cancel their checks and ensure that funds continue to be available so the IRS can process them. Visit the IRS’s COVID-19-related web page here:
Similar Posts
Do you run a business from home? You may be able to deduct home office expenses
Many people began working from home during the COVID-19 pandemic — and many still work from their home offices either all the time or on a hybrid basis. If you’re self-employed and run your business from home or perform certain functions there, you might be able to claim deductions for home office expenses against your…
Bland Garvey Wins 2021 Best of Accounting Award for Service Excellence
2021 – 08/18 Bland Garvey, a leading accounting firm announced today that they have won the Best of Accounting Award for providing superior service to their clients. ClearlyRated’s Best of Accounting® Award winners have proven to be industry leaders in service quality based entirely on ratings provided by their clients. On average, clients of 2021 Best…
Keeping meticulous records is the key to tax deductions and painless IRS audits
2021 – 01/31 If you operate a business, or you’re starting a new one, you know you need to keep records of your income and expenses. Specifically, you should carefully record your expenses in order to claim all of the tax deductions to which you’re entitled. And you want to make sure you can defend…
2022 Q1 tax calendar: Key deadlines for businesses and other employers
2021 – 12/20 Here are some of the key tax-related deadlines affecting businesses and other employers during the first quarter of 2022. Keep in mind that this list isn’t all-inclusive, so there may be additional deadlines that apply to you. Contact us to ensure you’re meeting all applicable deadlines and to learn more about the…
Addressing Pay Equity at Your Business
Business owners: Pay equity is an issue that’s not going away. Fortunately, there are real, actionable ways you can address it at your company.
IRS Begins Accepting Tax Returns
2021 – 02/10 The IRS begins accepting tax returns on Feb. 12. Ideally, you’ve been gathering tax records all year and have already made an appointment with us. Bring all W-2s, 1099s and documents about state tax refunds and other payments. You also may have received a Form 1095-A, B or C (Health Insurance statement)…