Patience is in order if awaiting tax refund this year
If you are expecting a tax refund this year, you may have to wait a bit longer than usual. Between staff shortages, a backlog of returns from the 2020 filing season, processing Recovery Rebate Credits, validating income for the Earned Income Tax Credit and Additional Child Tax Credit – not to mention applying changes in […]
What’s in the Covid relief bill: Recovery rebates, extended unemployment and more
The Consolidated Appropriations Act of 2021 includes a number of provisions beneficial to individuals and business owners, particularly in light of ongoing economic turmoil in the wake of the coronavirus pandemic. In addition to the extension of the Paycheck Protection Program, the CAA contains another round of direct payments to individuals, extended unemployment insurance and […]
COVID relief measures target of online scams
While Covid has changed just about everything, scam artists remain up to their old tricks. Some of their tactics may have changed, but at their core, con artists attempt to take advantage of uncertainty and fear surrounding the pandemic to separate their victims from their money. The IRS released its list of Dirty Dozen tax […]
Some Economic Impact Payments sent by prepaid debit cards
Millions of eligible Americans have already received their Economic Impact Payments (EIPs) via direct deposit or paper checks, and the IRS announced this week that some payments are being sent by prepaid debit card. The debit cards will arrive in a plain envelope from “Money Network Cardholder Services.” According to the IRS, nearly 4 million […]
Coronavirus relief efforts create rich environment for fraud
Between economic impact payments, small business loans through the Paycheck Protection Program, emergency sick and leave requirements, and other coronavirus-related relief efforts, we are in a target-rich environment for fraud. Everything is moving very quickly, and individuals and business owners desperately need financial relief being offered by the government, banks, and employers. Fraudsters will take […]