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IRS Reminds Taxpayers to File and Pay 2020 Tax Returns by October 15 Due Date

IRS Reminds Taxpayers to File and Pay 2020 Tax Returns by October 15 Due Date The IRS has reminded taxpayers to file their 2020 tax returns by the upcoming October 15, 2021 due date. Taxpayers must file on or before the extension deadline to avoid the penalty for filing late if they request an extension. […]

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Taxpayers Urged to Develop Emergency Preparedness Plans for Surviving Natural Disasters

Taxpayers Urged to Develop Emergency Preparedness Plans for Surviving Natural Disasters The IRS has reminded taxpayers to develop emergency preparedness plans due to the upcoming hurricane season and the ongoing threat of wildfires in some parts of the country. September is declared as the National Preparedness Month. Further, the IRS advised taxpayers to: secure critical […]

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Use of E-Signatures Approved for Certain Forms

Use of E-Signatures Approved for Certain Forms The IRS has allowed taxpayers to use electronic or digital signatures on certain paper forms they cannot file electronically. The Service has balanced the e-signature option with critical security and protection needed against identity theft and fraud. The IRS will accept a wide range of electronic signatures. Acceptable […]

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Tax Court Had Jurisdiction Over Innocent Spouse Case

Tax Court Had Jurisdiction Over Innocent Spouse Case The Tax Court had jurisdiction to determine the appropriate relief available to an individual who sought innocent spouse relief for two tax years at issue. Initially, the taxpayer submitted a request for innocent spouse relief for one tax year, which the IRS denied in a final determination. […]

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2021 Luxury Auto Depreciation Caps and Lease Inclusion Amounts Issued

2021 Luxury Auto Depreciation Caps and Lease Inclusion Amounts Issued The IRS has issued the luxury car depreciation limits for business vehicles placed in service in 2021 and the lease inclusion amounts for business vehicles first leased in 2021. Luxury Passenger Car Depreciation CapsThe luxury car depreciation caps for a passenger car placed in service […]

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