Chad Dinco, C.P.A

02/15/2022

https://money.yahoo.com/irs-we-face-major-challenges-as-tax-day-looms-152135205.html?ncid=twitter_yfsocialtw_l1gbd0noiom

The IRS Commissioner says the agency's focus is "simplifying the taxpayer’s filing experience," he writes in an exclusive Op-Ed for Yahoo Finance.

02/10/2022

https://www.usatoday.com/story/news/2022/02/09/irs-backlog-tax-refund-delays-tax-pros-want-relief/6729677001/

Tax professionals prepare for high stress levels after many individuals and small business owners faced lengthy refund delays in the past two years.

09/20/2021

05/04/2021

People usually get their refunds within three weeks, but this year is proving complicated for nearly 30 million filers.

03/16/2021

https://www.accountingtoday.com/news/irs-offers-guidance-on-unemployment-benefits-exclusion?utm_campaign=accountingtoday-fb&utm_medium=social&utm_content=socialflow&utm_source=facebook

The Internal Revenue Service posted information about how to correctly compute the new exclusion on a portion of unemployment income as Congress pushes the IRS for further tax-filing relief.

03/08/2021

If you collected unemployment in 2020 and have already filed your tax return, it's very possible this new bill will change your return and you will need to file an amended federal return!

Proposed legislation introduced yesterday would remove taxes on up to $10,200 in unemployment aid for the 2020 tax filing year.

03/08/2021

https://www.journalofaccountancy.com/news/2021/mar/cpa-small-business-clients-ppp-changes-and-problems.html

Rule changes, deadline pressures, and ongoing processing problems with the Paycheck Protection Program are causing high levels of frustration and anxiety among many small businesses. This creates an opportunity for CPAs to provide calm guidance for stressed clients.

03/01/2021

Big tax law changes coming with the new stimulus bill. If you have kids this is the year to start going to a CPA. H&R Block and Turbo Tax won't be around to help you come July!

The stimulus bill passed by the House contains many tax provisions, including a new round of economic stimulus payments, tax credits for COBRA continuation coverage, and expansions of the child tax credit, the earned income credit, and the child and dependent care credit.

02/11/2021

https://www.facebook.com/90175107169/posts/10158866364562170/

COVID-19 relief measures confront return preparers with novel predicaments. [Updated with tax provisions from the Consolidated Appropriations Act, 2021, the COVID-19 relief package signed into law in late December 2020.]

02/07/2021

https://www.irs.gov/newsroom/2021-tax-filing-season-begins-feb-12-irs-outlines-steps-to-speed-refunds-during-pandemic

IR-2021-16, January 15, 2021 — The Internal Revenue Service announced that the nation's tax season will start on Friday, February 12, 2021, when the tax agency will begin accepting and processing 2020 tax year returns.

02/05/2021

Teachers make sure you are getting your full deduction if you are paying expenses out of pocket!

https://www.facebook.com/90175107169/posts/10158851537682170/?substory_index=0

The IRS issued guidance providing a safe harbor under which eligible educators who have unreimbursed expenses for PPE, disinfectant, and other supplies used to prevent the spread of COVID-19 in the classroom can deduct those expenses as educator expenses. Full details at https://bit.ly/3rtXqmS