The Social Security Administration transmitted the necessary information to the IRS so it can begin sending Economic Impact Payments to nearly 30 million beneficiaries after an ultimatum from Congress. | IRS expands unemployment tax exclusion to more taxpayers | | By Michael Cohn 3 min read | | The Internal Revenue Service has changed the calculation for determining the $10,200 exclusion on unemployment benefits in the new pandemic relief package, allowing more taxpayers to qualify, but forcing tax software developers to update their programs. | |
| IRS extends more tax deadlines until May 17 | | By Michael Cohn 5 min read | | The Internal Revenue Service responded Tuesday to calls for extending more tax deadlines by giving taxpayers until May 17 to make IRA and HSA contributions and file some refund claims. | |
| PPE is deductible, says IRS | | By Jeff Stimpson 1 min read | | Announcement 2021-7(1) lets taxpayers deduct money spent on masks, wipes and other supplies in certain circumstances. | |
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| WEB SEMINAR | | ASC 842 – it’s time to get ready | | During this webinar, our experts discuss the first step toward leasing automation and how to go beyond spreadsheets to meet your compliance goals quickly. | |
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