Federal Tax | Cg Tax, Audit & Advisory

06 Sep

Social Security Tax Deferral

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September 3, 2020

Although many private employers have announced they won’t be deferring Social Security taxes through the end of the year under a presidential action, federal employees will have the taxes deferred. The National Finance Center,...

04 Sep

Federal Tax

Info for Centralized Partnerships

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September 3, 2020

Are you in a centralized partnership? The IRS has announced the launch of a new webpage dedicated to the Bipartisan Budget Act of 2015 (BBA) centralized partnership audit procedures. The BBA procedures replaced the...

02 Sep

Federal Tax

Review Withholding Annually

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September 2, 2020

The IRS reminds taxpayers to review their withholding annually. For a step-by-step method of determining the right amount to withhold, they can use the Tax Withholding Estimator, an online IRS tool. Employees who need...

01 Sep

Coronavirus & Nonprofits, Coronavirus Tax Filing & Payment, Federal Tax

2020 Form 1040 Draft

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August 31, 2020

The IRS has issued a draft of the 2020 Form 1040 that allows taxpayers to claim the new charitable contribution deduction. Under the CARES Act, taxpayers who don’t itemize their deductions can take a...

29 Aug

Federal Tax, Helpful COVID-19 Links

IRS Relief for Checks

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August 28, 2020

Due to delays in processing, the IRS is providing relief from bad check penalties for dishonored checks it received between March 1, 2020, and July 15, 2020. The IRS says that if a taxpayer...

28 Aug

Federal Tax

Less Paperwork for Business Identity Theft

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August 28, 2020

Less paperwork is required if a business wants to report to the IRS that it’s a victim of identity theft. The IRS has revised a form that must be filed so that it no...

26 Aug

Federal Tax

Retirement Distributions Deadline

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August 25, 2020

The deadline to return distributions to certain retirement accounts is coming up. IRA owners, beneficiaries or workplace retirement plan participants who received a required minimum distribution (RMD) this year have until Aug. 31 to...

24 Aug

Coronavirus Tax Filing & Payment, Federal Tax

Tax Refund Interest Payments

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August 24, 2020

The IRS is sending tax refund interest payments. The IRS announced the payments will be made to about 13.9 million individual taxpayers. The interest payments, averaging about $18, will be made to individuals who...

24 Aug

Federal Tax

October 15 Deadline Not Far Away

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August 24, 2020

Did you ask for an extension for your 2019 tax return this year? If so, keep in mind that Oct. 15, 2020 is the last day to file for most people who requested an...

22 Aug

Coronavirus Tax Filing & Payment, Federal Tax

IRS Reopens Registration Period for Child EIPs

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August 20, 2020

The IRS has reopened the registration period for those who didn’t receive $500-per-child Economic Impact Payments (EIPs) earlier this year. Certain federal benefit recipients are urged to use the IRS’s “Non-Filers tool” from 8/15/20...

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