The following information may be of interest to individuals and groups in or related to small businesses:
- October 15 deadline approaches for taxpayers who requested extensions to file 2020 tax returns
- Advance Child Tax Credit
- It’s not too late for families who haven’t filed a 2020 income tax return—including those who are not normally required to file to sign up for advance Child Tax Credit payments
- Update address feature available on IRS online portal
- Security Summit warns tax pros to
- Watch for tell-tale signs of identity theft
- Be wary of pandemic-related email schemes
- Cost of home testing for COVID-19 is eligible medical expense; reimbursable under FSAs, HSAs
- IRS accepting applicants for the Compliance Assurance Process for 2022
Interest rates remain the same for the fourth quarter 2021
The IRS announced that interest rates will remain the same for the calendar quarter beginning October 1, 2021.
Expanded tax benefits help individuals and businesses give to charity during 2021
The IRS explains how expanded tax benefits can help both individuals and businesses give to charity before the end of this year.
The expanded benefits include increased limits on eligible cash contributions made by itemizers and on amounts deductible by businesses for certain donated food inventory.