Blog Layout
FAQs on 2020 Unemployment Compensation Exclusion Updated
The IRS has updated its frequently-asked-questions (FAQs) on 2020 Unemployment Compensation Exclusion...
These updated FAQs are: (1) Question 2, Topic D: Amended Return (Form 1040-X); (2) Questions 8 & 9, Topic G: Receiving a Refund, Letter, or Notice; and (3) Question 3, Topic I: Post Unemployment Compensation Exclusion Adjustment. These FAQs have been issued to provide general information to taxpayers and tax professionals as expeditiously as possible.
The IRS has provided FAQs regarding Coronavirus State and Local Fiscal Recovery Funds (SLFR Funds). The FAQs detail the tax consequences for individual recipients and the reporting requirements for the states and local governments and employers as applicable...
The IRS has released frequently asked questions (FAQs) detailing reporting directions for certain passthrough entities and taxpayers partnership interests reporting held in connection with the performance of services, known as "carried interests"...