Browsing: IRS

Newsbytes

As the Internal Revenue Service continues to address the error that caused millions of economic impact payments to be incorrectly routed to temporary or incorrect bank accounts, the IRS today said that, together with tax industry partners, it is “taking immediate steps to redirect stimulus payments to the correct account for those affected.”

Newsbytes

The Internal Revenue Service tonight clarified that economic impact payment recipients who had their ACH payments erroneously sent to an account that is closed, inactive or a temporary account, will not receive their payment and must instead claim the Recovery Rebate Credit when filing their 2020 tax return electronically.

Newsbytes

The Internal Revenue Service today announced that the Get My Payments portal—available in English and Spanish—is now live for individuals to log on and view the status of their economic impact payment.

Newsbytes

The IRS has issued a final rule confirming that deductions allowed under Internal Revenue Code section 67(e) for costs incurred in connection with the administration of a trust or estate are deductible despite the suspension of miscellaneous itemized deductions under the 2017 tax reform law.

1 2 3 8