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IRS Updates

Date: Aug 19, 2020 Posted By: Miller & Company LLP in IRS Updates

IRS: Unemployment compensation is taxable; Have tax withheld now and avoid a tax-time surprise

WASHINGTON – With millions of Americans now receiving taxable unemployment compensation, many of them for the first time, the Internal Revenue Service today reminded people receiving unemployment compensation that they can have tax withheld from their benefits now to help avoid owing taxes on this income when they file their federal income tax return next year. By law, unemployment compensation...

Date: Apr 21, 2020 Posted By: Miller & Company LLP in IRS Updates

IRS Extends More Tax Deadlines to Cover Individuals, Trusts, Estates, Corporations and Other Entities

[mkd_blockquote text="To help taxpayers, the Department of Treasury and the Internal Revenue Service announced today that Notice 2020-66 extends additional key tax deadlines for individuals and businesses." title_tag="" width="90" border_color=""] Last month, the IRS announced that taxpayers generally have until July 15, 2020, to file and pay federal income taxes originally due on April 15. No ...

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