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Features News Articles and Reports − keeping you up-to-date with local and international tax-related matters.
Increased charitable contribution deduction for taxpayers filing jointly claiming the standard deduction
By Gina Gatchell, Director. The IRS announced over the weekend that taxpayers filing jointly will be allowed to claim up to US $600 in donations to qualified US charitable organizations on their 2021 US return. This is up from the current level of US $300 available to...
IRD eyes on real estate agents in newly announced campaign
By Gina Gatchell, Director It has come as no surprise that Inland Revenue has started a new campaign to review the taxable income being declared by real estate agents. The campaign was announced on 11 May 2021. It was triggered by information falling into the hands of...
IRS and FinCEN up the ante on virtual currencies and digital assets
By Gina Gatchell, Director The cat and mouse chase which has evolved over the years since the first virtual currency emerged is turning into a large-scale operation. In March 2021, the IRS civil office of fraud enforcement partnered with the agency’s criminal...
We are back on deck and it’s full steam ahead!
Our office has reopened as of 18 May, 2020. We would again like to acknowledge our clients, staff and suppliers for their support during this unprecedented era. If you would like to make an appointment to see one of our team,...
Further tax relief for the Shakey Isles
by Gina Gatchell, Director The act provides: Arrangements for carrying back net tax losses to provide cash flow quickly to any and all taxpayers with or expecting tax losses due to COVID-19. A first in the history of New Zealand taxation, the government has introduced...
FAQs About Economic Impact Payments
We have been closely monitoring IRS information being released about the economic impact payments. Here's what you want to know: Q: How will I receive the payment?A: If you have filed a 2018 or 2019 US tax return, the IRS will review whether any US bank account...
Check if your IRS Economic Relief Payment is on its way to you!
A new online tool has been launched to assist taxpayers to obtain the IRS stimulus payments. Taxpayers can check their eligibility for the payment, track the status of the payment, and enter US bank account details in order to receive a direct deposit from the IRS....
Internal Revenue Service Economic Relief for US Persons
US persons, including US citizens and resident aliens, now qualify for economic relief under the Families First Coronavirus Response Act of 2020 which was signed into law on March 18, 2020 . Every American adult with adjusted gross income (AGI) on their 2018 or 2019...
Internal Revenue Service Extends Filing Deadline to 15 July 2020 – Payment and Filing Due Dates Now Aligned
The agency has now extended the filing, as well as the payment due dates, for 2019 individual, trust, estate and other domestic returns to July 15, 2020. This advice was issued in Notice 2020-18, superseding Notice 2020-17. Notice 2020-18 refers to Affected Taxpayers...
