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March 31, 2020 • 2 min read
What you need to know about the Coronavirus stimulus check scams

Do not give out your PayPal account information, Social Security number, bank account number or anything else if someone claims such information is essential to sign you up for a stimulus check relating to the coronavirus pandemic. It's not. It's a scam. It's time to warn consumers once again that ...

March 31, 2020 • 2 min read
Calculate what you could get from the coronavirus stimulus checks

President Donald Trump signed the $2 trillion economic rescue package Friday that, among other consumer aid, will provide millions of American adults with relief checks of up to $1,200 per person. The bill passed the House earlier in the day, after getting through the Senate on Wednesday. More than ...

March 25, 2020 • 3 min read
Senate stimulus deal includes individual checks but don't expect the money until at least May

Washington (CNN)Lawmakers struck a $2 trillion stimulus deal early Wednesday that includes sending checks directly to individuals amid the coronavirus crisis -- but it will likely take until at least May before the money goes out. Under the plan as it was being negotiated, single Americans would ...

March 20, 2020 • 1 min read
IRS Also Extends 2020 Income Tax Filing Deadline to July 15

The Treasury Department and IRS have announced that the income tax filing deadline has now been extended to July 15, 2020. On Friday morning, the Treasury Department and IRS announced that the income tax filing deadline has now been extended to July 15, 2020.Earlier this week. Secretary Mnuchin ...

March 04, 2020 • 2 min read
How long will it take to get my tax refund this year?

Tax season is officially here and many Americans are hoping to get their refund as soon as possible. So how long do taxpayers typically have to wait for their refund check after filing? Most refunds will be issued in less than 21 days, as long as the return doesn’t require further review, according ...

January 23, 2020 • 2 min read
IRS issues standard mileage rates for 2020

The Internal Revenue Service issued the 2020 optional standard mileage rates (PDF) used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on January 1, 2020, the standard mileage rates for the use of a car (also vans, ...

December 27, 2019 • 4 min read
Final IRS 2020 Form W-4 Released

On December 5, 2019, the Internal Revenue Service (IRS) released the final 2020 Form W-4, Employee’s Withholding Certificate. The IRS had released an early draft in May and a second “near-final” draft in August to enable employers to make software and other changes. The form includes major ...

November 18, 2019 • 1 min read
Updated Power of Attorney Forms

The Minnesota Department of Revenue released updated Power of Attorney (POA) forms. The forms were updated based on your feedback to make them easier to understand and complete. Changes to Power of Attorney Forms We separated Form REV184, Power of Attorney, and Form Rev185, Authorization to Release ...

November 07, 2019 • 2 min read
What are the Audit Flags for the IRS?

How the IRS decides which 1040s to audit. Many filers mistakenly believe that the IRS is less likely to audit returns that are submitted late in the filing season, rather than early. Not true. All returns, whether filed early or late, go through the IRS’s ever-vigilant computers that scan them for ...

October 23, 2019 • 2 min read
Cryptocurrency investors get new IRS income-reporting rules

Cryptocurrency holders know more about what the Internal Revenue Service expects to see on their tax returns, thanks to new guidance from the agency. The IRS released a ruling and a question-and-answer document Wednesday that tell virtual currency investors and their tax advisers how the agency ...