BMX Financial Services

Get to Know the Earned Income Tax Credit and How it Can Help You: www.irs.gov/eitc #IRS #EITC

IRS explains how ineligible taxpayers should return their coronavirus stimulus payments The Internal Revenue Service has posted information on how people who weren’t supposed to receive their economic impact payments for the novel coronavirus pandemic should return the money.

Businesses with Forgiven PPP Loans Will Lose Tax Deductions Small businesses that manage to get their Paycheck Protection Program loans forgiven may find themselves losing valuable tax breaks, according to new guidance from the Internal Revenue Service.

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IRS issues guidance on Tax Cuts and Jobs Act changes on business expense deductions for meals, entertainment | Internal Revenue Service IR-2018-195, Oct.3, 2018 — The Internal Revenue Service issued guidance today on the business expense deduction for meals and entertainment following law changes in the Tax Cuts and Jobs Act (TCJA).