Here Is How the Third Economic Impact Payment Is Different From Earlier Payments The third Economic Impact Payment is different from the first and second payments in several ways. The third Economic Impact Payment is an advance payment of the 2021 recovery rebate credit. The two earlier payments are advance payments of the 2020 recovery… Read More
The recently passed American Rescue Plan Act has made substantial changes to issues concerning your business. The following represents items that not only require your attention, but most importantly, your planning for these changes. They include: Payroll tax credits. The paid sick leave and family leave credits are extended to apply to wages paid through September… Read More
The American Rescue Plan Act of 2021 (ARPA), signed by President Biden on March 11, 2021, is the latest major legislation that provides economic relief and stimulus, both tax and non-tax, during the Covid-19 pandemic. As tax law is moving very quickly in 2021, we wanted to make you apprised of these changes. Individuals Recovery… Read More
We value the health of all of our clients, our employees, and their families. Many of our clients are elderly, or care for elderly family members, or others whose immune systems may be compromised. We are no longer accepting in-person tax preparation appointments until it is safe to do so. Instead, all clients may mail… Read More
Contact: John Michaels (202) 822-0728 jmichaels@naea.org For Immediate Release Alabaster Tax Practitioners Attends National Tax Practice Institute™ Washington, D.C. – 8/3/17 — In order to stay up-to-date on the latest changes in tax regulations, Cris Nelson, EA, and Kenyatta Ector, EA. attended the three-day National Tax Practice Institute® in Las Vegas, July 31 – August… Read More
The IRS wants taxpayers to know it stands ready to help in the event of a disaster. If a taxpayer suffers damage to their home or personal property, they may be able to deduct the loss they incur on their federal income tax return. If their area receives a federal disaster designation, they may be… Read More
Students and teenagers often get summer jobs. This is a great way to earn extra spending money or to save for later. The IRS offers a few tax tips for taxpayers with a summer job: Withholding and Estimated Tax. Students and teenage employees normally have taxes withheld from their paychecks by the employer. Some workers… Read More
Attention last minute savers! There’s still time to reduce your tax burden for 2016. Have you funded a traditional IRA, Roth IRA, or SEP this year? The deadline for contributions to IRAs is April 18, 2017 — this year’s filing deadline. For self-employed taxpayers, contributions to a SEP may be postponed until October 16, 2017… Read More
Although the IRS reports a 400 percent surge in phishing and malware incidents during the 2016 tax season, there are simple steps you can take to help protect yourself. Here are nine hints that can help: Beware of IRS Impersonators. Some crooks call taxpayers to say they must settle their “tax bill.” These are fake… Read More
Accelerate Deductions and Defer Income It sometimes makes sense to accelerate deductions and defer income. There are plenty of income items and expenses you may be able to control. Consider deferring bonuses, consulting income or self-employment income. On the deduction side, you may be able to accelerate state and local income taxes, interest payments and… Read More