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Updated June 2020 Q. Are there incentives for making your home energy efficient by installing alternative energy equipment? A. Yes, the residential energy efficient property credit allows for a credit equal to the applicable percent of the cost of qualified property. Qualifying properties are solar electric property, solar water heaters, geothermal heat pumps, small wind turbines and…

IRS: Seniors, retirees not required to take distributions from retirement accounts this year under new law WASHINGTON — The Internal Revenue Service today reminds seniors and retirees that they are not required to take money out of their IRAs and workplace retirement plans this year. The Coronavirus Aid, Relief, and Economic Security Act, or CARES…

Short answer, it’s coming, but the #IRS is experiencing delays. We know how #frustrating 😤 this situation is. Especially for all of you out there that made the extra effort to #file early. Many of us here at #NSA#Tax and #Business#Services are in the same boat. Check out our website for more information on what the IRS is saying. Here is a snippet. Due to #COVID-19, IRS #return#processing is down…

If you have received an #Economic #Impact #Payment this year you need to keep #Notice1444. You should see it in the mail around 15 days after you receive your check. Notice 1444 provides information about the amount of your payment, how the payment was made, and how to report any payment that wasn’t received. It’s especially important for people to…

Hello friends! As people across the country receive their Economic Impact Payments, some might receive a different amount than they expected. Eligible individuals receive a payment for $1,200. Two eligible individuals filing a joint return receive $2,400. And, eligible individuals receive up to an additional $500 for each qualifying child who meets the conditions outlined…