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Tax Alerts

September 28, 2020

Tax Briefing(s)

2020 Tax Policies of the Major Presidential Candidates 2020 Payroll Tax Deferral Order 2020 Post-Filing Season Update CARES Act Coronavirus Tax Relief

IRS Reminds Taxpayers Who Missed July 15 Deadline to File Now to Avoid Penalties
The IRS has reminded taxpayers who missed the July 15 deadline without requesting an extension about some important tips, including filing electronically as soon as possible to reduce potential penalt...

Interest Payments Coming to Timely Filers
The Treasury and IRS announced on August 18 that they were to start sending interest payments to about 13.9 million individual taxpayers who timely filed their 2019 federal income tax returns and are ...

Processing Pending Payments During COVID-19
The IRS has warned taxpayers that if they mailed checks (either with or without tax returns), the checks may still be unopened in the backlog of mail that it is processing due to COVID-19. Any payment...

IRS Reopens Registration Period for Economic Impact Payments for Certain Federal Beneficiaries
The IRS has announced that it will reopen the registration period for federal beneficiaries who did not receive $500 per child payments earlier this year, as it continues to look for ways to look for ...

Taxpayers Can File Form 1040-X Electronically
The IRS has announced that taxpayers can now submit Form 1040-X electronically with commercial tax filing software. Until now, taxpayers were required to mail a completed Form 1040-X to the IRS for pr...

IRS Reminds Individuals: Unemployment Compensation Taxable
The IRS has reminded individuals receiving unemployment compensation (beneficiaries) that they can have tax withheld from their benefits now to help avoid owing taxes on this income when they file the...

Taxpayers Urged to Renew Expiring ITINs
The IRS announced that more than one million Individual Taxpayer Identification Numbers (ITINs) will expire at the end of 2020. ITINs are used by people who have tax filing or payment obligations unde...

IRS Reminds Employers of Payroll Service Provider Options
The IRS has reminded employers of their options when it comes to choosing payroll service providers. The IRS also summarized the different types of third party providers available, including:payroll s...

AL - Protest denied as taxpayer failed to substantiate underreporting of sales
A Limited Liability Corporation's (LLC's) protest against additional Alabama sales and use and excise tax assessments was denied as the taxpayer reported a taxable-sales figure that was substantially ...

FL - Publication on information to update address/jurisdiction database issued
For sales and use tax purposes, the Florida Department of Revenue (department) has issued a tax information publication discussing the time and manner in which counties are required to submit informat...

GA - Guidance on sales and use tax exemption for qualified job training organizations issued
An update to Georgia sales and use tax exemption for qualified job training organizations guidance discusses that:sales tax exemption for qualified job training organizations expired on June 30, 2020;...

SC - Interest rate for overpayments and underpayments unchanged
From September 30, 2020 through December 31, 2020, the South Carolina interest rate on underpayments of taxes remains 3%. The refund rate for overpayments remains 0%. Information Letter 20-25, South ...

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