The Internal Revenue Service (IRS) has announced some changes to its collections processes to assist taxpayers who have been impacted by COVID-19. Specifically, the IRS says it is expanding taxpayer options for making payments and alternatives to resolve balances owed. “The IRS understands that many taxpayers face challenges, and we’re working hard to help people…
Since the pandemic, there has been a lot of uncertainty about the economy, especially for taxpayers and business owners. But as governments seek to make up lost revenue, that raises concerns about tax compliance. An easy target? Sales tax. There has been and probably will continue to be a shift in the economy and tax…
It’s very likely that you’re reading this from your home—even if you’re working. As the coronavirus pandemic continues to spread across the country, many of us are finding that the new normal means not leaving the house, or at least not for work anyway. How dramatic are the numbers? A Federal Reserve Bank of Dallas…
One of the biggest fears right now for students and recent grads is being able to find a decent job. Job opportunities drastically vary based on the economy. The projected job outlook for 2018-2028 was expected to be a relatively healthy 6%. However, now the numbers are expected to be altered even more due to…
The Internal Revenue Service (IRS) has announced that it will allow the use of E-signatures on certain tax forms that cannot be filed electronically. This is a temporary move intended to reduce in-person contact and lessen the risk to taxpayers and tax professionals during COVID. What does that mean? Well, some forms, like Form 1040,…
The Internal Revenue Service (IRS) continues to make strides in getting back to normal. According to the IRS Commissioner, as of this past Monday, thousands of employees have returned to facilities in seven states (Kentucky, Texas, Utah, Georgia, Minnesota, Tennessee, and Missouri). Employees in four more states and Puerto Rico will reopen on June 29….
(Author’s note: This article was current as of June 11, 2020. Since that time, the IRS has issued some updates. Keep checking back for more information.) Baby steps. The Internal Revenue Service (IRS) is reopening, albeit slowly. IRS Commissioner Charles Rettig explained earlier this month that the IRS is reopening operations for employees with non-portable work. So…