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The IRS advises taxpayers to choose tax professionals wisely to avoid fraud and identity theft, offering tools like the Directory of Federal Tax Return Preparers. Key tips include checking for a valid PTIN and avoiding “ghost” preparers.
The IRS has reminded disaster-area taxpayers that 2023 returns are due by Feb. 3, 2025, for some regions, and by May 1, 2025, for others. Affected taxpayers automatically receive extensions. Payments on 2023 returns are not included
Numerous tax changes were enacted as part of the American Rescue Plan Act, which was signed into law in March 2021. This act was enacted to assist individuals and businesses in coping with the continued economic disruption caused by the COVID-19 epidemic.
The month of September 2021 has brought forth an interesting update for American taxpayers. The IRS just unveiled a distinct initiative in the form of a brand new webpage to address issues of taxpayers eligible for large-scale refunds. The recently introduced web page is helpful for refund claimants who need to undergo the Joint Committee of Taxation (JCT) review. Such a review is necessary prior to the settlement of specific types of refunds. Team Infinity Globus is here to help you to get to the bottom of this fresh IRS move and how it will prove beneficial for federal taxpayers.
Tax credits stand among the highly useful ways to optimize your overall tax burden. They act as additional reductions on the regular taxes you pay. Since it is an extra...
When the pandemic wreaked havoc all over the world, the consequent economic downturn swelled the unemployment rate in America by more than 14 million. The number rose at...
A critical deadline is approaching for many of the businesses and nonprofit organizations that have received loans under the Paycheck Protection Program (PPP).