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$1B in 2020 tax refunds remains unclaimed

Accounting Today

Time is running out for nearly 940,000 individuals to claim refunds from 2020, with a May 17 deadline approaching for filing the necessary tax returns.

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Some 2020 Unemployment Compensation is Tax-Free

RogerRossmeisl

Here are two changes that may result in tax savings for you on your 2020 or 2021 tax returns. The 2020 return was due on May 17, 2021 (because the IRS extended many due dates from the usual April 15 this year). The post Some 2020 Unemployment Compensation is Tax-Free appeared first on Roger Rossmeisl, CPA.

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IRS: Time is Running Out to Collect Over $1 Billion in Tax Refunds For 2020

CPA Practice

By Alvin Buyinza, masslive.com (TNS) Nearly 940,000 Americans have unclaimed tax returns from 2020 and face a May 17 deadline if they want to get it back, the IRS announced on Monday. The average median refund was $932 for 2020, according to the IRS. The average median refund was $932 for 2020, according to the IRS.

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Should I File My 2020 Tax Return Early?

RogerRossmeisl

The IRS opened the 2020 individual income tax return filing season on February 12. The post Should I File My 2020 Tax Return Early? This is later than in past years because of a new law that was enacted late in December.) You can potentially protect yourself from tax identity theft — and there may be other benefits, too.

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COVID & the Future of Work: Insights from Paycor’s C-Suite

In Paycor’s newest report, our Chief Executive and Group Leaders consider how SMBs will recruit, manage their workforce, optimize benefits, and foster employee experience in the new normal of 2020 and beyond. In just a few months, everything changed: 30 million unemployed and counting. An economic contraction that might extend through 2021.

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There is Still Time to Make a 2020 IRA Contributions

RogerRossmeisl

If you’re getting ready to file your 2020 tax return, and your tax bill is higher than you’d like, there might still be an opportunity to lower it. If you qualify, you can make a deductible contribution to a traditional IRA right up until the April 15, 2021 filing date and benefit from the tax savings on your 2020 return.

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Home Buyers Need $47,000 More than in 2020 to Afford to Buy

CPA Practice

That is 80% more than in January 2020, showing how the math has changed for hopeful buyers, who are more often partnering with friends and family or “house hacking” their way to homeownership. In 2020, a household earning $59,000 annually could comfortably afford the monthly mortgage on a typical U.S. Home values have risen 42.4%

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2020 Report: The Future of HR

Which 2020 compliance regulations are keeping leaders up at night and what you should do to mitigate risk. Download Paycor’s 2020 Report and see what the future has in store. Why CFOs are losing faith in HR’s ability to work with data (and what you can do).

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The Anti-Money Laundering Act of 2020: Initial Catalysts, Current Implications, and Future Impacts

Speaker: Elizabeth "Paige" Baumann, Founder and CEO of Paige Baumann Advisory, LLC

In this webinar, you'll be provided with a clear overview of the Anti-Money Laundering Act of 2020 (AMLA), which also includes the Corporate Transparency Act (CTA). The AMLA represents the most significant changes in U.S. anti-money laundering laws since the USA PATRIOT Act of 2001.

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How Preparation and Strategy Can Be Used to Fight and Defeat Any Ransomware Attack

Speaker: Karl Camilleri, Cloud Services Product Manager at phoenixNAP

million attacks, the threat marked a 148% increase compared to 2020 and was the most expensive year on record! The days of a “once in a while” attack against businesses and organizations are over. Cyberthreats have become a serious issue.