by Paula Kennedy, EA | Mar 18, 2021 | Tax
Wednesday March 17, 2021: The Treasury Department and Internal Revenue Service announced that the federal income tax filing due date for individual returns for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be...
by Paula Kennedy, EA | Mar 16, 2021 | Tax
The American Rescue Plan Act, signed into law on March 11, provides a variety of tax and financial relief to help mitigate the effects of the COVID-19 pandemic. Among the many initiatives are direct payments that will be made to eligible individuals. And parents under...
by Paula Kennedy, EA | Mar 9, 2021 | Tax
April 15 is not only the deadline for filing your 2020 tax return, it’s also the deadline for the first quarterly 2021 estimated tax payments, if you’re required to make one. You may have to make 2021 estimated tax payments if you receive interest, dividends, alimony,...
by Paula Kennedy, EA | Mar 4, 2021 | Tax
If you’re approaching retirement, you probably want to ensure the money you are saving for retirement lasts as long as possible. If so, be aware that a law was recently enacted that makes significant changes to retirement accounts. The SECURE Act, which was signed...
by Paula Kennedy, EA | Feb 23, 2021 | Tax
If you’re getting ready to file your 2020 tax return, and your tax bill is higher than you’d like, there might still be an opportunity to lower it. If you qualify, you can make a deductible contribution to a traditional IRA right up until the April 15, 2021 filing...
