Month: January 2021

Unemployment Recipients May Not Know Their Benefits Are Taxable

The Department of Labor reported a staggering 75.9 million initial unemployment insurance benefits claims from January 5, 2020 to January 2, 2021. The number of weekly claims spiked in March, underscoring the devastating financial impact of the COVID-19 pandemic and creating millions of first-time unemployment recipients who might not realize that those benefits are taxable.… Read more about Unemployment Recipients May Not Know Their Benefits Are Taxable (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

IRS Recommends Direct Deposit for Fast and Flexible Tax Refunds

The Internal Revenue Service closed out the week by reminding taxpayers that receiving a tax refund by direct deposit is faster and more flexible than traditional paper checks, even for those who do not currently have a bank account.… Read more about IRS Recommends Direct Deposit for Fast and Flexible Tax Refunds (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

All Taxpayers Now Eligible for Identity Protection PINs

The Internal Revenue Service is expanding just who is eligible for an Identity Protection PIN. In fact, the IRS has thrown open the gates and now says any taxpayer who can verify their identity can now get an IP PIN.… Read more about All Taxpayers Now Eligible for Identity Protection PINs (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

IRS, Tax Industry Working to Redirect Some EIP Direct Deposits

The Internal Revenue Service this afternoon announced it was working with the tax and financial industry to redirect Economic Impact Payments that were direct deposited in closed, inactive, or “unfamiliar” bank accounts.… Read more about IRS, Tax Industry Working to Redirect Some EIP Direct Deposits (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…