KIM MARKS CPA PA

Opportunity Zones | Internal Revenue Service FS-2020-13, August 2020 — Facts about opportunity zones.

The Next Democratic Crusade: Taxing Hypothetical Income: https://lttr.ai/n0WS

Biden's IRS proposal could mark the end of privacy in banking Individual privacy over bank accounts and expenditures should be safely guarded — Biden’s proposals would end it.

IR-2021-58: IRS, Treasury disbursed 90 million Economic Impact Payments from the American Rescue Plan WASHINGTON – Today, the Internal Revenue Service, the U.S. Department of the Treasury and the Bureau of the Fiscal Service announced they disbursed approximately 90 million Economic Impact Payments from the American Rescue Plan. As announced last week, Economic Impact Payments are rolling out in t...

Tax Tip 2021-18: What taxpayers need to know about claiming the credit for other dependents child and dependent care creditearned income creditDoes My Child/Dependent Qualify for the Child Tax Credit or the Credit for Other Dependents?

2021 tax filing season begins Feb. 12; IRS outlines steps to speed refunds during pandemic | Internal Revenue Service 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.

Tax Tip 2020-161: Here’s how taxpayers can check if their charitable donation is tax deductible Thank you for subscribing to IRS Tax Tips, an IRS e-mail service. For more information on federal taxes please visit IRS.gov.

IR-2020-194: IRS approves temporary use of e-signatures for certain forms WASHINGTON – To protect the health of taxpayers and tax professionals, the Internal Revenue Service today announced it will temporarily allow the use of digital signatures on certain forms that cannot be filed electronically.

IR-2020-162: IRS: Seniors, retirees not required to take distributions from retirement accounts this year under new law WASHINGTON — The Internal Revenue Service today reminds seniors and retirees that they are not required to take money out of their IRAs and workplace retirement plans this year.

COVID Tax Tip 2020-85: Major changes to retirement plans due to COVID-19 Qualified individuals affected by COVID-19 may be able to withdraw up to $100,000 from their eligible retirement plans, including IRAs, between Jan. 1 and Dec. 30, 2020.

Big News As IRS Opens Taxpayer Phone Lines & More The big news is this: all IRS toll-free phone lines supported by customer service representatives for taxpayers and tax professionals are also now available.