Tax Tips and News - Upstate Tax Professionals

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Tips to help you prepare for tax season

Reviewing the Economic and Revenue Implications of Cost Recovery Options

Apr 28, 2020 | Tax Tips and News

Tax Policy - Reviewing the Economic and Revenue Implications of Cost Recovery Options Removing tax policy barriers can help businesses and individuals invest, work, create jobs, and lift the economy during a post-pandemic recovery without requiring lawmakers to...

EIP Alert: May 5 Deadline for SSI and VA Beneficiaries with Dependents

Apr 27, 2020 | Tax Tips and News

While non-filers receiving Supplemental Security Income (SSI) and Veterans Affairs (VA) benefits are scheduled to automatically get a $1,200 Economic Impact Payment, the IRS says beneficiaries need to report qualifying dependents before May 5, 2020, to receive an additional $500 per qualifying child with their EIP.… Read more (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

Reviewing the Benefits of Full Expensing for the Post-Pandemic Economic Recovery

Apr 27, 2020 | Tax Tips and News

Tax Policy - Reviewing the Benefits of Full Expensing for the Post-Pandemic Economic Recovery Rather than relying on new tax subsidies or policies to address the economic issues resulting from the COVID-19 pandemic, lawmakers can look to reforms within the...

Can I Buy OTC Medication with FSA, HSA, and HRA Funds?

Apr 24, 2020 | Tax Tips and News

The CARES Act removes an ACA limitation on using FSA, HSA, and HRA funds to pay for over-the-counter medication.… Read more (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

88 Million EIPs Go Out

Apr 24, 2020 | Tax Tips and News

The U.S. Treasury Department and the Internal Revenue Service say they’ve delivered 88 million stimulus payments to taxpayers during the first three weeks of the program.… Read more (Feed generated with FetchRSS) – Story provided by TaxingSubjects.com…

April 24th Afternoon State Tax Update

Apr 24, 2020 | Tax Tips and News

Tax Policy - April 24th Afternoon State Tax Update On March 19 we launched a tracker providing a repository of information related to state fiscal policy responses to COVID-19. We are updating the tracker frequently and will be using the Tax Foundation blog to...