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The credit ended on Oct. 1, 2021, but businesses could still apply retroactively by filing an amended payroll tax return. IRS will pause taking claims for pandemic-era tax credit due to an influx ...
The IRS is taking action against small businesses that improperly filed returns claiming a lucrative pandemic-era tax credit. The agency sent 20,000 correspondence letters disqualifying these ...
During the COVID-19 pandemic, the IRS stopped sending reminder notices relating to taxes still owed. Now normal operations and letters are resuming. IRS sending LT38 collection letters again after ...
Trump was initially described as optimistic about the country's response to the pandemic and the threat level the coronavirus disease 2019 presented the public. As the pandemic's severity escalated in the U.S., Trump repeatedly made false or misleading statements. In contrast, officials within the first Trump administration made numerous ...
In the United States, government shutdowns occur when funding legislation required to finance the federal government is not enacted before the next fiscal year begins. In a shutdown, the federal government curtails agency activities and services, ceases non-essential operations, furloughs non-essential workers, and retains only essential employees in departments that protect human life or ...
The IRS has closely examined ERC claims in backlog and determined that 10-20% were low-risk, 60-70% had unacceptable risk, and 10-20% had high risk. ... The IRS is right to scrutinize pandemic-era ...
The Individual Master File (IMF) is the system currently used by the United States Internal Revenue Service (IRS) to store and process tax submissions and used as the main data input to process the IRS's transactions. It is a running record of all of a person's individual tax events including refunds, payments, penalties and tax payer status. [1]
The Internal Revenue Service announced the restart of collection notices in 2024, marking the end of a pandemic-related pause. IRS to offer pandemic-related relief on some penalties to nearly 5 ...