IRS urges Taxpayers to gather Tax Documents now for smooth Filing later

U.S. Internal Revenue Service urges Taxpayers to gather Tax Documents now for smooth Filing later | site |



(Information contained in U.S. Internal Revenue Service [IRS] press release dated: January 22, 2021)

Washington - - The Internal Revenue Service is reminding taxpayers that organizing tax records is an important first step for getting ready to prepare and file their 2020 tax return. Taxpayers should keep all necessary records, such as W-2s, 1099s, receipts, canceled checks and other documents that support an item of income, or a deduction or credit, appearing on their tax return. Taxpayers should develop a system that keeps all their important information together, which could include a software program for electronic records or a file cabinet for paper documents in labeled folders. Having records readily at hand makes preparing a tax return easier. To avoid refund delays, taxpayers should be sure to gather all year-end inco...

U.S. Internal Revenue Service says Eligible Paycheck Protection Program expenses now Deductible | site |



(Information contained in U.S. Internal Revenue Service [IRS] press release: January 6, 2021)

Washington - - The Treasury Department and the Internal Revenue Service issued guidance today allowing deductions for the payments of eligible expenses when such payments would result (or be expected to result) in the forgiveness of a loan (covered loan) under the Paycheck Protection Program (PPP).

Today's guidance, Revenue Ruling 2021-02, reflects changes to law contained in the COVID-related Tax Relief Act of 2020, enacted as part of the Consolidated Appropriations Act, 2021 (Act), Public Law 116-260, which was signed into law on December 27, 2020. The COVID-related Tax Relief Act of 2020 amended the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) to say that no deduction is denied, no tax attribute is reduced, and no basi...

U.S. Internal Revenue Service releases 2020 Progress Update | site |


IRS says "Annual report details unprecedented year"


(Information contained in U.S. Internal Revenue Service [IRS] press release dated: January 5, 2021)

Washington - - The Internal Revenue Service today released its 2020 annual report describing the agency's work delivering taxpayer service and compliance efforts during COVID-19 while spotlighting actions taken by IRS employees to help people during the challenging year.

"Internal Revenue Service Progress Update/Fiscal Year 2020 – Putting Taxpayers First " outlines how the agency overcame difficulties during the pandemic to deliver Economic Impact Payments in record time. At the same time, IRS employees made adjustments to complete a successful filing season despite office closures and the latest tax deadline ever. "The COVID-19 pandemic presented some of the greatest challenges to the IRS in ...

IRS revises Form 1024-A, Application for Section 501(c)(4) Tax-exempt Status as part of Ongoing Efforts to Improve Service | site |


(Information contained in U.S. Internal Revenue Service [IRS] press release: January 5, 2021)

Washington - - As part of ongoing efforts to improve service for the tax-exempt community, the Internal Revenue Service issued the revised Form 1024-A, Application for Recognition of Exemption Under Section 501(c)(4), and its instructions to allow electronic filing. "Electronic filing will make the Form 1024-A application easier to complete while reducing errors," said Edward Killen, Acting Commissioner of the IRS Tax Exempt and Government Entities division. "Electronic filing also shortens IRS processing time so applicants won't wait as long for a response." Beginning January 5, 2021, IRS will make available the electronic version of the Form 1024-A that organizations seeking to be exempt under Section 501(c)(4) may use to su...

U.S. Internal Revenue Service issues Standard Mileage Rates for 2021 | site |



(Information contained in U.S. Internal Revenue Service [IRS] press release dated: December 22, 2020)

Washington - - The Internal Revenue Service today issued the 2021 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes.

Beginning on January 1, 2021, the standard mileage rates for the use of a car (also vans, pickups or panel trucks) will be:

• 56 cents per mile driven for business use, down 1.5 cents from the rate for 2020,
• 16 cents per mile driven for medical, or moving purposes for qualified active duty members of the Armed Forces, down 1 cent from the rate for 2020, and
• 14 cents per mile driven in service of charitable organizations, the rate is set by statute and remains unchanged from 2020.

The standard mileage rate for business use is based on...

U.S. Internal Revenue Service says Get Ready for Taxes: Stay Home and Stay Safe with IRS Online Tools | site |


(Information contained in U.S. Internal Revenue Service [IRS] press release: December 16, 2020)

Washington - - The Internal Revenue Service today encouraged taxpayers to take necessary actions now to help file federal tax returns timely and accurately in 2021.

This is the fourth in a series of reminders to help taxpayers get ready for the upcoming tax filing season. A special page, updated and available on IRS.gov, outlines steps taxpayers can take to make tax filing easier in 2021.

With continued social distancing, taxpayers can stay home and stay safe with IRS online tools and resources that help them find the information they need. These IRS.gov tools are easy to use and available 24 hours a day. Millions of people use them to find information about their accounts, get answers to tax questions or file and...

U.S. Department of Homeland Security Announces Joint Final Rule Regarding Equal Treatment of Faith-Based Organizations in DHS-Supported Social Service Programs | site |


(Information contained in U.S. Department of Homeland Security press release: December 14, 2020) Today, December 14, 2020, the Department of Homeland Security (DHS) announced a joint final rule with eight other Agencies—the Department of Justice, the Department of Labor, the Department of Education, the Department of Health and Human Services, the Department of Housing and Urban Development, the Department of Agriculture, the Agency for International Development, and the Department of Veterans Affairs—to implement President Trump’s Executive Order No. 13831, on the Establishment of a White House Faith and Opportunity Initiative (May 3, 2018). This rule ensures that religious and non-religious organizations are treated equally in DHS-supported programs, and it clarifies that religious organizatio...

U.S. Department of Education Announces Joint Final Rule Regarding Equal Treatment of Faith-Based Organizations in Department-Supported Social Service Programs| site |


(Information contained in U.S. Department of Education press release: December 14, 2020) Washington - - Today, December 14, 2020, the Department of Education announced a joint final rule with eight other agencies — the Department of Justice, the Department of Homeland Security, the Department of Labor, the Department of Health and Human Services, the Department of Housing and Urban Development, the Department of Agriculture, the Agency for International Development, and the Department of Veterans Affairs — to implement President Trump’s Executive Order No. 13831, on the Establishment of a White House Faith and Opportunity Initiative (May 3, 2018). This rule ensures that religious and non-religious organizations are treated equally in Department-supported programs, and it clar...

U.S. Internal Revenue Service announces that Interest Rates remain the Same for the First Quarter of 2021 | site |


(Information contained in U.S Internal Revenue Service (IRS) press release: December 3, 2020)

WASHINGTON — The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning January 1, 2021. The rates will be:

• three (3) percent for overpayments (two (2) percent in the case of a corporation);
• one-half (0.5) percent for the portion of a corporate overpayment exceeding $10,000;
• three (3) percent for underpayments; and
• five (5) percent for large corporate underpayments.

Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points. Generally, in the case of a corporation, the underpayment rate is the federal short-term ...

U.S. Department of Transportation Announces Final Rule on Traveling by Air with Service Animals | site |


(Information contained in U.S. Department of Transportation press release: December 2, 2020)

Washington - - The U.S. Department of Transportation today announced that it is revising its Air Carrier Access Act (ACAA) regulation on the transportation of service animals by air to ensure a safe and accessible air transportation system. The final rule on Traveling by Air with Service Animals can be found HERE.

The Department received more than 15,000 comments on the notice of proposed rulemaking. The final rule announced today addresses concerns raised by individuals with disabilities, airlines, flight attendants, airports, other aviation transportation stakeholders, and other members of the public, regarding service animals on aircraft.

The final rule:

• Defines a service animal as a dog that is individually trained to do

...

Flight Attendant Union Statement on the Boeing 737 MAX Return to Service | site |



(Information contained in Association of Flight Attendants CWA, AFL-CIO press release: November 18, 2020)

Washington, DC (November 18, 2020) — Following the Boeing 737 MAX return to service order by the Federal Aviation Administration (FAA), AFA-CWA International President Sara Nelson released the following statement: “As aviation’s first responders and last line of defense, Flight Attendants understand that our jobs and our lives depend on this industry meeting the highest possible standards of safety and security. After nearly two years of reviews and the redesign of critical aircraft systems, U.S. regulators are clearing the 737 MAX to resume flying. "This day is the result of the persistence of engineers and manufacturing workers at Boeing. But this day is also a reminder of why this plane has not flown for two years and the responsibility we all h...

U.S. Department of Labor announces WIOA Guidance on Priority of Service for Americans in Need
| site |


Washington, DC – The U.S. Department of Labor released a Training and Employment Guidance Letter today announcing its vision for a priority of service in the Workforce Innovation and Opportunity Act (WIOA) Adult program and explaining how the Department’s Employment and Training Administration (ETA) expects states to implement the priority requirement.

As outlined in the guidance, the Department will work with states to strengthen state and local policies and procedures that enhance workforce development services to recipients of public assistance, low-income individuals, and individuals who are deficient in basic skills. This follows the Department’s announcement of a tri-agency initiative with the U.S. Department of Health and Human Services and the U.S. Department of Agriculture to work with states to better coordinate employment assistance programs...

U.S. Internal Revenue Service says Special $300 Tax Deduction helps most People give to Charity this Year – Even if they Don’t Itemize | site |


(Information contained in U.S. Internal Revenue Service [IRS] press release: November 25, 2020) WASHINGTON – The Internal Revenue Service today reminded taxpayers of a special new provision that will allow more people to easily deduct up to $300 in donations to qualifying charities this year. Following special tax law changes made earlier this year, cash donations of up to $300 made before December 31, 2020, are now deductible when people file their taxes in 2021. "Our nation's charities are struggling to help those suffering from COVID-19, and many deserving organizations can use all the help they can get," said IRS Commissioner Chuck Rettig. "The IRS reminds people there's a new provision that allows for up to $300 in cash donations to qualifying organizations to be deducted from income. We encourage people to expl...

U.S. Internal Revenue Service says Get Ready for Taxes: Steps to take Now to make Tax Filing easier in 2021 | site |


(Information contained in U.S. Internal Revenue Service [IRS] press release: November 24, 2020)

Washington – The Internal Revenue Service today encouraged taxpayers to take necessary actions this fall to help file federal tax returns timely and accurately in 2021.

This is the second in a series of reminders to help taxpayers get ready for the upcoming tax filing season. A special page, updated and available on IRS.gov, outlines steps taxpayers can take now to make tax filing easier in 2021. 2020 has been a busy year, with a lot of changes. To make sure taxpayers don't miss out on tax benefits or make mistakes, they can take a few simple steps now to make filing their taxes easier in 2021. An important first step to getting taxes ready is to gather all tax records. Having records organized makes preparing a tax return easier. It...

U.S. Internal Revenue Service announces Procurement Research Partnership to improve Contracting Processes | site |


(Information contained in U.S. Internal Revenue Service [IRS] press release: November 23, 2020) WASHINGTON — The Internal Revenue Service's Office of the Chief Procurement Officer today announced a research partnership with Data and Analytic Solutions, a small business located in Fairfax, Virginia. The partnership also includes a group of academic researchers with a goal to use data science to improve IRS procurement operations. The effort will bring together a multi-disciplinary team comprised of procurement practitioners as well as university professors and students with procurement and machine learning experience. Machine learning is a form of artificial intelligence that allows computers to become more accurate at predicting outcomes without being explicitly programmed. "As with many agencies, we have a wealth of data available to us to u...