Wanda French Accounting Services

08/11/2022

important to keep good records, Mileage log and receipts

The recent Tax Court case Gonzalez, TC Summary Opinio

01/04/2021

and the Treasury Department began a second round of Economic Impact Payments to millions of Americans. There is no action required by eligible individuals to receive this new payment. Initial direct deposit payments have started arriving for some and continue into next week for many. Paper checks have started being mailed starting today and continue into January.

Some people may see the direct deposit payments as pending before the official payment date of Jan. 4, 2021. Please keep in mind that the payments are automatic, and you don’t need to contact your financial institution or the IRS with payment timing questions.

Most recipients will receive payments by direct deposit. People who got the first payments via Direct Express will receive this second payment the same way. For anyone who receives payments by check or debit card, these will be mailed through January. Carefully check your mail. Eligible individuals who didn’t receive an Economic Impact Payment this year – either the first or the second payment -- will be able to claim it when they file their 2020 taxes in 2021. You can check the status of your payments in a few days by using the Get My Payment tool, available in English and Spanish on IRS.gov.

For details, see: https://go.usa.gov/xAK4f

09/14/2020

Thank you for subscribing to IRS Tax Tips, an IRS e-mail service. For more information on federal taxes please visit IRS.gov.

08/18/2020

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...

01/07/2020

WASHINGTON ― The Internal Revenue Service confirmed that the nation’s tax season will start for individual tax return filers on Monday, Jan. 27, 2020, when the tax agency will begin accepting and processing 2019 tax year returns.

11/07/2019

Recordkeeping is an important part of running a small business. In fact, keeping good records helps business owners make sure their business stays successful.

10/07/2019

Now that fall is here and school has started, many teachers are dipping into their own pockets to buy classroom supplies. Doing this throughout the year can add up fast. Fortunately, eligible educators may be able to defray qualified expenses they paid in 2019 when they file their tax return in 2020...

07/29/2019

Taxpayers who have deducted the business use of their car on past tax returns should review whether or not they can still claim this deduction. Some taxpayers can. Some cannot.

06/03/2019

Find out how tax reform has changed the way you can deduct employee transportation fringe benefits and how you may need to include them in employee wages. Fo...

06/03/2019

for your information. thanks

Find out how tax reform has changed the way you can deduct fringe benefits, such as meals and entertainment expenses. For more information go to https://www....

05/30/2019

Couples getting married this year know there are a lot of details in planning a wedding. Along with the cake and gift registry, their first tax return as a married couple should be on their checklist. The IRS has tips and tools to help newlyweds consider how marriage may affect their taxes.

05/20/2019

With summer almost here, many students will turn their attention to making money from a summer job. Whether it’s flipping burgers or filing documents, the IRS wants student workers to know some facts about their summer jobs and taxes.Not all the money they earn will make it to their pocket because...