Editorial team of TFX

The IRS extended tax deadlines for all Texas residents and businesses from April 15 to June 15 because of the winter storms and the damages they brought.  According to the recent disaster declaration issued by the Federal Emergency Management Agency, the IRS is providing this relief not only to the disaster victims but also to the ...

The COVID-19 pandemic has resulted in numerous administrative and legislative responses, including short-term and a few long-term tax changes that have affected both employees and self-employed taxpayers in significant ways. These changes include filing postponements, ...

IRS will send a series of letters starting with CP14 If the IRS determines, rightly or wrongly, that your tax return has an error, it will send you a series of letters describing the problem and letting you know what to do.  Only the first of these, called a ...

As a part of the CARES Act the IRS provided interest-free deferral of the part of Self-Employment tax. See FAQ21 of ...

Maryland Gov. Larry Hogan signed the bipartisan RELIEF Act of 2021 on Monday, February 15, to provide a $1 billion package of emergency coronavirus relief to families and small businesses. Most of the stimulus payments should have been processed by February 19. Maryland residents who filed a 2019 tax return and received the Earned Incom...

California Gov. Gavin Newsom signed a $7.6 billion relief package. 5.7 million people will receive $600 one-time payments. Small businesses can also qualify for the payments - there are over $2 billion in grants for this purpose. Who is eligible to receive the $600 one-time payment? About 5.7 million people will recei...