Newsletters
Tax Filing Reminders – February 2021
March 2nd
March 15th
April 15th
FINAL INSTRUCTIONS REVISE VIRTUAL CURRENCY TRANSACTION LIST
Posted February 2021
For the 2020 tax year, taxpayers will need to answer the question on page 1 of Form 1040. The final version of the instructions to Form 1040 has revised the non-exhaustive list of transactions involving virtual currency by removing the purchase of virtual currency and the acquisition of a financial interest in virtual currency from the list.
ALL TAXPAYERS NOW ELIGIBLE FOR IDENTITY PROTECTION PINS
Posted February 2021
The Internal Revenue Service launched the Identity Protection PIN program (IP PIN) nearly a decade ago to protect confirmed identity theft victims from ongoing tax-related fraud. In recent years, the IRS expanded the program to specific states where taxpayers could voluntarily opt into the IP PIN program. Now, the voluntary program has expanded to all taxpayers who can verify their identities.
REASONS TO FILE YOUR 2020 TAX RETURN EARLY
Posted February 2021
The IRS opened the 2020 individual income tax return filing season on February 12 (this is later than in past years because of a new law that was enacted late in December). Even if you typically do not file until much closer to the April 15 deadline (or you file for an extension) consider filing earlier this year. You can potentially protect yourself from tax identity theft and there may be other benefits as well.