by Fastrack Tax & Accounting Services | Nov 5, 2021 | Tax Tips and News
A new provision in the tax code lets more taxpayers deduct up to $600 in donations to qualified charities—even if they don’t itemize. Itemizing is ordinarily the key that unlocks the charitable donation deduction; taxpayers choosing the standard deduction...
by Fastrack Tax & Accounting Services | Nov 4, 2021 | Tax Tips and News
It’s that time again: time for federal tax return preparers to renew their Preparer Tax Identification Numbers (PTINs) for the coming year. It’s no time to procrastinate, since 2021 PTINs will expire on Dec. 31. A valid PTIN is required for anyone who prepares—or...
by Fastrack Tax & Accounting Services | Nov 4, 2021 | Tax Tips and News
There’s not much doubt that the COVID-19 pandemic has taken a strong labor market and turned it on its ear, producing a shortage of available workers. To help employers navigate these uncertain waters, the Internal Revenue Service is reassuring them that businesses...
by Fastrack Tax & Accounting Services | Nov 4, 2021 | Tax Tips and News
The Internet is filled with cybersecurity threats that can jeopardize family finances. Just one of many scams, identity theft tax refund fraud (ITTRF) is big business for criminals, and it can cause big headaches for victims. The IRS, state departments of revenue, and...
by Fastrack Tax & Accounting Services | Nov 4, 2021 | Tax Tips and News
While most of the nation’s attention is turned to fall colors and the Thanksgiving holidays, residents of some Mississippi counties still have all-too-vivid memories of meaner weather earlier in the summer. That’s when Hurricane Ida ravaged the state with high winds,...