Taxlete Today

The People's Tax Blog: Important tax news and information carefully curated to serve the needs of the average person.

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Businesses should be aware of the Employee Retention Tax Credit

Jordan D. Howlette, J.D., M.B.A.

Sep 11, 2020
4 min

Businesses should be aware of the Employee Retention Tax Credit

The Employee Retention Credit allows employers to receive up to 50% of the qualified wages paid to employees during the COVID-19 pandemic.

Friendly reminder: Unemployment compensation is taxable

MyTaxRights

Aug 19, 2020
2 min

Friendly reminder: Unemployment compensation is taxable

Reminder: Unemployment compensation is taxable. Recipients should ensure the proper amount of tax has been withheld or otherwise set aside.

Reminder, taxpayers should resume tax debt payments by July 15th

Lars Kroner

Jul 14, 2020
2 min

Reminder, taxpayers should resume tax debt payments by July 15th

Taxpayers should resume their regularly scheduled tax debt payments by July 15th to avoid default and/or penalties.

Be sure to keep your Economic Impact Payment letter (Notice 1444)

Lars Kroner

Jun 23, 2020
1 min

Be sure to keep your Economic Impact Payment letter (Notice 1444)

Be sure to keep your Economic Impact Payment notice letter with your tax records.

Individuals may request coronavirus-related withdrawals from IRAs without 10% tax penalty

MyTaxRights

Jun 12, 2020
2 min

Individuals may request coronavirus-related withdrawals from IRAs without 10% tax penalty

Individuals may request coronavirus-related withdrawals from IRAs without 10% tax penalty.

Employers can receive tax credits for granting paid leave to employees affected by COVID-19

Lars Kroner

May 29, 2020
2 min

Employers can receive tax credits for granting paid leave to employees affected by COVID-19

Employers can receive tax credits for granting paid sick leave or paid family leave to employees affected by COVID-19.

The Employee Retention Credit encourages businesses to keep employees on the payroll

Lars Kroner

May 27, 2020
2 min

The Employee Retention Credit encourages businesses to keep employees on the payroll

The Employee Retention Credit encourages businesses to keep employees on their payroll. Click to learn more.

Lars Kroner

May 20, 2020
5 min

IRS unveils new People First Initiative

Learn more about several of the IRS's relief measures aimed at assisting taxpayers affected by the COVID-19 pandemic.

The IRS changes how it handles audits and exams in response to the COVID-19 pandemic

Lars Kroner

May 18, 2020
2 min

The IRS changes how it handles audits and exams in response to the COVID-19 pandemic

The IRS has temporarily changed its handling of audits and exams in response to the COVID-19 pandemic. Here is what you need to know.

Why your 2020 stimulus payment amount may be different than expected

Lars Kroner

May 15, 2020
5 min

Why your 2020 stimulus payment amount may be different than expected

Learn about common scenarios that may explain why the amount of your stimulus payment was different than you expected.

Taxpayers need to be on the lookout for scams related to COVID-19

Lars Kroner

May 14, 2020
2 min

Taxpayers need to be on the lookout for scams related to COVID-19

Taxpayers should be on the lookout for IRS impersonation calls and email phishing attempts about the COVID-19 Economic impact Payments.

Taxpayers can suspend payments under an IRS Installment Agreement through July 15th

MyTaxRights

May 13, 2020
2 min

Taxpayers can suspend payments under an IRS Installment Agreement through July 15th

Taxpayers have the option to suspend IRS installment agreement payments through July 15th.

Paycheck Protection Program Info & FAQs: A Must Read for Every Small Business Owner

MyTaxRights

May 11, 2020
8 min

Paycheck Protection Program Info & FAQs: A Must Read for Every Small Business Owner

Find answers to frequently asked questions about the Paycheck Protection Program. A must read for every small business owner.

IRS urges taxpayers to act by Wednesday, May 13th, to speed up receipt of Economic Impact Payment

MyTaxRights

May 9, 2020
2 min

IRS urges taxpayers to act by Wednesday, May 13th, to speed up receipt of Economic Impact Payment

The IRS urges taxpayers to act by 12:00 p.m. EST on Wednesday, May 13th, to speed up receipt of their Economic Impact Payment.

Answers to common questions about the Economic Impact Payments (Stimulus Checks)

MyTaxRights

May 6, 2020
3 min

Answers to common questions about the Economic Impact Payments (Stimulus Checks)

Economic Impact Payment Questions? Here are the IRS's answers to some of the most common questions.

IRS tools that help individuals receive their Economic Impact Payment (Stimulus Check)

MyTaxRights

May 6, 2020
2 min

IRS tools that help individuals receive their Economic Impact Payment (Stimulus Check)

The IRS has two tools to help millions of taxpayers with their Economic Impact Payment.

Low-income individuals are eligible to receive an Economic Impact Payment (Stimulus Check)

MyTaxRights

May 6, 2020
2 min

Low-income individuals are eligible to receive an Economic Impact Payment (Stimulus Check)

Individuals who do not have a regular filing requirement can use the IRS's free online tool to easily register to receive their payment.

Taxpayers now have until July 15th to file and pay their federal taxes

MyTaxRights

May 6, 2020
2 min

Taxpayers now have until July 15th to file and pay their federal taxes

As a result of the COVID-19 crisis, the IRS extended the federal income tax filing deadline to July 15th.

IRS issues warning about Coronavirus-related scams

MyTaxRights

May 6, 2020
2 min

IRS issues warning about Coronavirus-related scams

The Internal Revenue Service urges taxpayers to be on the lookout for a surge of calls and email phishing attempts about the COVID-19.