ARPA: Biden signs massive COVID-relief bill into law

ARPA: Biden signs massive COVID-relief bill into law

Mar 12, 2021 | News to Note

NSA outlines tax provisions of latest COVID-relief bill From the National Society of Accountants (NSA) —  By JESSICA L. JEANEDirector of Public Policy, NSA President Biden on March 11 signed into law the American Rescue Plan Act (ARPA), a nearly $1.9 trillion COVID-19...
Guide to Obtaining an Identity Protection PIN from the IRS

Guide to Obtaining an Identity Protection PIN from the IRS

Mar 10, 2021 | News to Note

From the Pinnacle CPA Advisory Group, IRS.gov and Thomson Reuters —  An Identity Protection PIN (IP PIN) is a six-digit number that prevents someone else from filing a tax return using your Social Security number. The IP PIN is known only to you and the Internal...
There’s Still Time to Contribute to an IRA for 2020

There’s Still Time to Contribute to an IRA for 2020

Mar 3, 2021 | News to Note

From Pinnacle Wealth Planning Services, Inc.—  Even though tax filing season is well under way, there’s still time to make a regular IRA contribution for 2020. You have until your tax return due date (not including extensions) to contribute up to $6,000 for 2020...
Credit from Pandemic Bills and Your Tax Return

Credit from Pandemic Bills and Your Tax Return

Feb 24, 2021 | News to Note

From Pinnacle Wealth Planning Services, Inc.—  Dear Clients and Friends, Two emergency relief bills passed in 2020 in response to the COVID-19 pandemic will make this an unusual tax season for many taxpayers. The Coronavirus Aid, Relief, and Economic Security (CARES)...
A Review of ‘Tax Extenders’ in Recent Legislation

A Review of ‘Tax Extenders’ in Recent Legislation

Feb 17, 2021 | News to Note

From the Pinnacle CPA Advisory Group/Thomson-Reuters —  Dear Clients and Friends, On Dec. 27, 2020, the massive Consolidated Appropriations Act, 2021 (CAA, 2021) was signed into law. Before the CAA, 2021 hit the books, a bevy of federal income tax breaks were set to...
Federal Tax Filing Season Starts Soon

Federal Tax Filing Season Starts Soon

Feb 10, 2021 | News to Note

From the Pinnacle CPA Advisory Group —  The IRS has announced that the federal income tax filing season for tax year 2020 returns begins on Friday, Feb. 12, 2021. Although tax seasons frequently begin in late January, the additional time will allow the IRS to update...
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