IRS holds special events July 23-24 to support eligible families
Friday, Saturday events in several cities support eligible families IR-2021-156, July 21, 2021 WASHINGTON — The Internal Revenue Service and partners in non-profit organizations, churches, community groups and others will host additional events in several cities this weekend to help eligible families register for the monthly Advance Child Tax Credit (AdvCTC) payments. The special events on July […]
Rethinking your Client Fulfillment process?
I can’t tell you how many messages I’ve gotten from readers and clients about why a CPA would want to discuss seemingly “internal” systems related to my clients’ businesses. Simple – we both want the same thing – your business to be more successful! Now, last week, I asked you to track some numbers about […]
Additional Economic Impact Payments disbursed under the American Rescue Plan
IR-2021-157, July 21, 2021 WASHINGTON — The Internal Revenue Service, U.S. Department of the Treasury, and the Bureau of the Fiscal Service announced today they have disbursed more than 2.2 million additional Economic Impact Payments under the American Rescue Plan. Today’s announcement covering the most recent six weeks of the effort brings the total disbursed […]
Audit!
Like the title says, there might no be anything worse than hearing or reading those words from the IRS – the ones telling you to prepare for an audit. Even after all of these years, I still get nervous hearing them, but, having “been to the movie” a few times, I’ve learned that most audits […]
Tax pros to use multi-factor authentication against data theft
IR-2021-155, July 20, 2021 WASHINGTON — With security incidents on the rise, the Internal Revenue Service, state tax agencies and the tax industry urged tax professionals and taxpayers to use a special feature – multi-factor authentication – available on tax software products to help protect against identity and data theft. The Security Summit partners today […]
Be Organized!
Every year I mention this and every year, it’s worth sharing again. Taxes don’t have to be painful, but the longer you wait or the less organized you are, the less enjoyable (and more expensive) they can be. Many times, over the years, we’ve joked about the “shoebox filled with receipts” and, as hard as […]
Digital authorizations and launch of new Tax Pro Account
IR-2021-154, July 19, 2021 WASHINGTON — The Internal Revenue Service today launched a new feature that will give taxpayers digital control over who can represent them or view their tax records, a groundbreaking step in the agency’s expansion of electronic options for taxpayers and tax professionals. The new feature, one of many recent enhancements to the Online Account for […]
Do you need a Financial Advisor?
Nearly every day, a client asks me for financial advice and, inevitably, one of the next questions is if I believe they need to retain a financial advisor. I know it’s a loaded question, but the truth is, the right financial advisor can be worth their weight in gold and the wrong one can ruin […]
How to keep Afloat
Look, let’s just be honest right now – people are struggling financially. Yes, stimulus checks are continuing to go out and they are having an impact for millions of Americans. Despite that, times are still hard for a lot of folks, so today, I wanted to share some critical ways you can keep more money […]
Monthly Child Tax Credit payments begin
IR-2021-153, July 15, 2021 WASHINGTON — The Internal Revenue Service and the Treasury Department announced today that millions of American families have started receiving monthly Child Tax Credit payments as direct deposits begin posting in bank accounts and checks arrive in mailboxes. This first batch of advance monthly payments worth roughly $15 billion reached about […]
