News

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  • December 28, 2020 11:32 AM | Anonymous member (Administrator)

    There is considerable disagreement among the state taxing agencies at this point regarding how income of work-from-home telecommuters will be taxed by the state of taxpayer residence or the state where the employer is located.  Some states are beginning to take other states to court over the issue.

    States Square Off Over Taxing Remote Workers’ Income

  • December 23, 2020 12:55 PM | Anonymous member (Administrator)

    The IRS and Treasury have indicated that businesses that receive PPP loan forgiveness would NOT be allowed to deduct business expenses paid with the forgiven loan.

    However, it appears the new relief bill includes language to allow deduction of those business expenses:

    PPP Borrowers Stand to Gain Tax Deductions

  • December 16, 2020 12:03 PM | Anonymous member (Administrator)

    The IRS has advised taxpayers to prepare for new sections on their 2020 tax returns, such as reconciliation of the EIP "stimulus payment."

    Details at: https://www.irs.gov/newsroom/get-ready-for-taxes-whats-new-and-what-to-consider-when-filing-in-2021

  • September 30, 2020 1:10 PM | Anonymous member (Administrator)

    Word from several tax organizations from contacts inside the IRS is that Memphis and Ogden will begin accepting electronic signatures on Forms 2848 and 8821 in January.  The forms will have to be uploaded through an new IRS portal.  Details still to come.

    Chet Burgess

  • August 09, 2020 8:03 AM | Anonymous member (Administrator)

    On Monday, August 10, the Taxpayer Advocate Service (TAS) will begin helping taxpayers locate missing EIP payments.

    TAS wll assist taxpayers with six specific types of situations, outlined in the following posting on the TAS blog:

    https://taxpayeradvocate.irs.gov/news/nta-blog-tas-to-assist-correcting-eip-amounts-for-limited-groups-of-taxpayers?category=Tax%20News

    The Taxpayer Advocate office for Georgia is located in Atlanta, and can be reached by phone at 404-338-8099 or by fax at 855-822-1232.


  • August 04, 2020 2:18 PM | Anonymous member (Administrator)

    The IRS has just released its annual list of the Dirty Dozen tax scams to alert taxpayer and tax pros.  The Dirty Dozen for 2020 are:

    • Phising
    • Fake Charities
    • Threatening Impersonator Phone Calls
    • Social Media Scams
    • Economic Impact Payments or Refund Thefts
    • Senior Fraud
    • Scams Targeting non-English Speakers
    • Unscrupulous Tax Return Preparers
    • Offer in Compromise Mills
    • Fake Payments with Repayment Demands
    • Payroll and HR Scams
    • Ransomware

    Click here to find the details on the IRS web site.



  • July 06, 2020 1:24 PM | Anonymous member (Administrator)

    The Kiplinger Tax Letter quotes sources at the Internal Revenue Service as saying the Modernized E-File system will add the capability to electronically file amended 2019 tax returns by late this summer.

    Currently, all amended returns must be filed on paper, and return processing has been substantially delayed by the coronavirus shutdown at the IRS.

    Currently, only 2019 amended returns (Form 1040X) are planned to be accepted electronically.

  • June 02, 2020 12:36 PM | Anonymous member (Administrator)

     FOR IMMEDIATE RELEASE


    GEORGIA DEPARTMENT OF REVENUE TO REOPEN IN-PERSON CUSTOMER SERVICE

    May 29, 2020

    ATLANTA - The Georgia Department of Revenue (DOR) announced today that in-person customer service will reopen on Monday, June 1, 2020 by appointment only.

    "While the Department never closed due to COVID-19, in-person services were temporarily suspended. I am pleased to be able to reopen to the public on Monday while making sure the necessary measures are in place to protect the safety of employees and visitors," stated Revenue Commissioner David Curry.

     To make an appointment with the Taxpayer Services Division, the Alcohol and Tobacco Division, the Motor Vehicle Division, or at one of DOR's 11 regional offices, Georgians should visit the Department's website at dor.ga.gov.

    Please note that visitors to the Department are strongly encouraged to wear face masks while in a DOR facility.   



  • May 08, 2020 1:01 PM | Anonymous member (Administrator)

    Coronavirus Tax Relief

    IRS has a special webpage dedicated to Coronavirus Tax Relief. Information is updated regularly. Please visit and bookmark https://www.irs.gov/coronavirus-tax-relief-and-economic-impact-payments to stay current on the latest guidance for Coronavirus Tax Relief. You can also input “coronavirus” in the search bar on the IRS webpage.

    Employer Credits

    Many businesses affected by COVID-19 may qualify for 3 employer Credits; Employee Retention Credit, Paid Sick and Family leave credit. See:  Employee Retention Credit FAQ's and Tax Credits for required paid leave-faqs

    Form 7200 – Errors

    Employers who are filing Form 7200, Advance Payment of Employer Credits due to COVID-19, must read the instructions carefully to avoid errors. Mistakes can result in a processing delay, which means it may take longer to get the advanced payment. A Form 7200 recorded product line is available in English and Spanish - 833-551-3588.

    common-errors-to-avoid-when-filing-for-advance-payment-of-employer-credits

    Form and Instructions for 7200

    Economic Impact Payment – how long is the payment available

    Payments will be made throughout the rest of 2020. If you don’t receive a payment this year, you can claim it by filing a tax return for 2020 next year.

    https://www.irs.gov/coronavirus/economic-impact-payment-information-center

    Get My Payment- RAL/RAC

    Some taxpayers file their tax return and may choose a refund settlement product. to help them pay their fees, get their refund immediately or even load the refund onto a direct debit card. In these situations, taxpayers may utilize a Refund Anticipation Loan (RAL) or a Refund Anticipation Check (RAC). If the refund settlement product or the associated account is closed or no longer active, the bank is required to reject the deposit and return it to the IRS. See FAQ: My EIP was sent to an account I don't recognize for more information

     

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