Original Article Source Credits: IRS, https://www.irs.gov/newsroom

Article Written By:  NA

Original Article Posted on: 10-Feb-2021

Link to Original Article: https://www.irs.gov/newsroom/common-and-costly-errors-taxpayers-should-avoid-when-preparing-a-tax-return

Original Article Source Credits: CPA Practice Advisor, https://www.cpapracticeadvisor.com

Article Written By: NA

Original Article Posted on:  Feb 8th, 2021

Link to Original Article: https://www.cpapracticeadvisor.com/tax-compliance/news/21209287/working-with-a-tax-pro-is-even-more-important-in-2021

Original Article Source Credits: the balance, https://www.thebalance.com

Article Written By:  Dana Anspach

Original Article Posted on:  January 27, 2021

Link to Original Article: https://www.thebalance.com/maximize-itemized-tax-deductions-2388982

The IRS is offering this relief to any area designated by the Federal Emergency Management Agency (FEMA) as qualifying for individual assistance. Currently, this includes Lake, Monterey, Napa, San Mateo, Santa Cruz, Solano, Sonoma, and Yolo counties in California, but taxpayers in localities

It’s important to revisit your tax withholding, especially if major changes from the Tax Cuts and Jobs Act affected the size of your refund this year.

Many businesses that have been severely impacted by coronavirus (COVID-19) will qualify for two new employer tax credits – the Credit for Sick and Family Leave and the Employee Retention Credit.

Here are some important things taxpayers should know about estimated tax payments:

1. Use the Interactive Tax Assistant to help determine if you should file an amended tax return.
2. Don’t amend for math errors or missing forms.

As tax professionals in Las Vegas, NV, at C.A.C Financial Services, we are committed to educating taxpayers to be aware, to stay informed, and to take action about their finances. 

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