If your modified adjusted gross income (AGI) is less than $150,000, the American Rescue Plan enacted on March 11, 2021, excludes from income up to $10,200 of unemployment compensation paid in 2020, which means you don’t have to pay tax on unemployment compensation of up to $10,200. If you are married, each spouse receiving unemployment… Read More
TX-2021-02, February 22, 2021 TEXAS — Victims of winter storms that began February 11, 2021 now have until June 15, 2021, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today. Following the recent disaster declaration issued by the Federal Emergency Management Agency, the IRS announced today… Read More
IR-2021-16, January 15, 2021 WASHINGTON ― The Internal Revenue Service announced that the nation’s tax season will start on Friday, February 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns. The February 12 start date for individual tax return filers allows the IRS time to do additional programming and… Read More
The IRS Isn’t Processing Paper Tax Returns Ryan Norton – Friday, April 10, 2020 Internal Revenue Service suggests that taxpayers e-file their tax returns instead. In a press release encouraging taxpayers to electronically file their tax returns, the Internal Revenue Service yesterday evening said that it was not currently processing paper tax returns. As if… Read More
A message regarding the COVID-19: Here at rbce – taxes and bookkeeping, we are committed to our customers and our community. We are also committed to the safety and well-being of all our rbce family. At this time, we will continue to be closed to the public, but please know we are still working remotely.… Read More
rbce Inc will be closed through March 25th and will re-open March 26th at 9:00. Two of our employees have been around others who’ve been exposed to the Covid 19 virus. We’re displaying an abundance of caution at this time in order to protect our clients and ourselves. We will continue to work, the portal… Read More
The employees here at rbce Inc have experienced robo calls about compromised social security numbers repeatedly over the last few days. It’s hard not to be concerned when you hear the same information over and over – has my social security number been compromised after all? The following article from Forbes online magazine by Kelly… Read More
It would seem that because the government is still on a partial shutdown that Americans would get a break on filing their taxes this coming April 15th. However, that is not the case. Your tax returns and payments must be filed by the appropriate dates. Even though many government offices are partially staffed, including the… Read More
It’s hard to overstate how important receipts can be in creating a complete tax return, especially if you’re a self employed (Schedule C) client. Many of our small business owners are Schedule C clients and often show up for their appointments with a grocery bag/shoebox full of receipts or even worse, they have no receipts… Read More
Curious as to what the new postcard-sized tax return might look like? The Internal Revenue Service (IRS) has released a proposed draft of the return. It looks like this: Draft 1040 p1IRS Draft 1040 p2IRS You can see the full-sized copy here (downloads as a pdf). Despite the smaller size, the new form 1040 is intended… Read More