IRS Announces Another Round of Unemployment Tax Refunds
The Internal Revenue Service disclosed it’s not done issuing refunds for tax paid on certain unemployment benefits received in 2020. So far, the IRS has completed four rounds of refunds due to the unemployment compensation exclusion, including 9 million individual refunds totaling over $10 billion.
Should You File Past Due Tax Returns?
Every year, many people who should have filed a tax return (or several years of returns) don’t file. Some think that if they cannot afford to pay the taxes due, they are better off not filing. For one reason or another, they missed the deadline and now wonder whether they’re better off filing the past due returns or trying to forget them.
Tax Filing Season Statistics Announced
The Department of the Treasury issued $317,692,000,000 in tax refunds during the first 10.5 months of 2020, with the average refund totaling $2,535. Schreiber Accounting and Advisory can help you get your maximum tax refund possible with comprehensive tax compliance and tax planning services.