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There will be many instances this year of taxpayers receiving a Form 1099-G for Unemployment Benefits fraudulently paid by the state to a claimant pretending to be the taxpayer. How Continue reading “Dealing with Illinois Unemployment Fraud”…
Category: Members News
Update on IRS Issues for this Tax Season
Submitted by Richard Allen, EA, AFSP This information comes from the information within the American Rescue Plan Act of 2021 which is still being finalized in Congress before being passed Continue reading “Update on IRS Issues for this Tax Season”…
Student Loan Interest Deduction
Submitted by Richard Allen ISSUE: Form 1098-E shows the Borrower, the Borrower’s social security number, and the current year’s Student loan interest amount. However, it does not show who has Continue reading “Student Loan Interest Deduction”…
First Mondays – Networking at Noon – Join us from Noon – 1:00 pm (CST) to network with other practitioners, discuss current topics & what’s going on with your practice. Check your email for the zoom link. This a new, FREE member benefit!
Members – Attend our First Mondays – Networking at Noon Come discuss current topics, what’s going on with your practice and network with other practitioners. Check your email for the Continue reading “First Mondays – Networking at Noon – Join us from Noon – 1:00 pm (CST) to network with other practitioners, discuss current topics & what’s going on with your practice. Check your email for the zoom link. This a new, FREE member benefit!”…
IRS Recovery Rebate Credit for Economic Impact Payments
Submitted by Richard Allen, EA There is a lot of misunderstanding about the COVID-19 “Stimulus” payments (also called Economic Impact Payments or “EIP” payments). EIP 1 and EIP 2 payments Continue reading “IRS Recovery Rebate Credit for Economic Impact Payments”…
Dealing with Illinois Unemployment Fraud
There will be many instances this year of taxpayers receiving a Form 1099-G for Unemployment Benefits fraudulently paid by the state to a claimant pretending to be the taxpayer. How Continue reading “Dealing with Illinois Unemployment Fraud”…
Loan Forgiveness Under the PPP Loan Program
by Joel Shabsin, CPA On May 1, 2020 the IRS issued Notice 2020-32 to clarify the treatment of the PPP program’s loan forgiveness. The notice discusses the allowed uses of Continue reading “Loan Forgiveness Under the PPP Loan Program”…