IRS suspends requirement to repay excess APTC

IRS suspends requirement to repay excess APTC

Change for 2020 tax year only; those claiming net Premium Tax Credit must file Form 8962 From the National Society of Accountants (NSA) — WASHINGTON — The American Rescue Plan Act of 2021 suspends the requirement that taxpayers increase their tax liability by all or a...
IRS to recalculate taxes on unemployment benefits

IRS to recalculate taxes on unemployment benefits

From the National Society of Accountants (NSA) — The IRS has announced that it will automatically refund money to taxpayers who reported unemployment compensation in their tax return before the recent changes made by the American Rescue Plan Act signed on March 11,...
IRS warns of phishing scam targeting dot-edu email users

IRS warns of phishing scam targeting dot-edu email users

From KnowB4.com —  The Internal Revenue Service (IRS) has issued an alert warning about a phishing scam targeting university students. A link in the emails leads to a phishing site that asks users to enter their Social Security number, name, date of birth, prior year...
Tax deadline for individuals extended to May 17

Tax deadline for individuals extended to May 17

From IRS.gov —  Treasury, IRS push federal Tax Day WASHINGTON — The Treasury Department and Internal Revenue Service announced Wednesday, March 17 that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from...