Article Highlights: IRS NoticesCP Series NoticeAutomated NoticesFrequent ErrorsID TheftPenalties and InterestWhat You Should DoWhat We Will Do Now that most tax refunds are deposited directly into taxpayers’ bank accounts, the dream of opening your mailbox and finding an IRS refund check is all but a thing of the past. However, since the IRS now does [...]
Article Highlights: If You Don’t Rent Your PropertyIf You Rent Your PropertyRented Fewer Than 15 DaysPersonal Use Is Less Than the Greater of 15 Days or 10% of the Rental DaysPersonal Use Exceeds the Greater of 14 Days or 10% of the Rental DaysIf You Sell Your Vacation HomeIf You Sell Your Home Do you [...]
Article Highlights Slow RefundsCOVID-19Economic Impact PaymentsRecovery RebatesUnemployment DebacleUsing 2019 Income to Compute 2020 EITC and Additional Child Tax CreditOther IssuesWhere’s My Refund ToolIRS May Pay Interest on Late Refunds You are not alone. We have been hearing from clients who are still waiting on refunds from returns filed early in the year. In normal times, [...]
