News you can use
HELP, The IRS is out of ink!
The Internal Revenue Service is having a tough time processing tax returns as they face the challenge of their printers and copiers being out of order. This is just one of the factors contributing to the IRS being so backlogged that millions of refunds are being held and not reaching the bank account of those that need them. Other contributing factors to their back-log and delays are all of the recent tax changes due to the Covid-19 care packages. The tax software as well as the IRS are confused on some of the rules as some of the calculations are not being done correctly; requiring, in some instances, an individual to make sure everything is accounted for appropriately.
Who will benefit the most from student loan forgivness
President Biden is considering whether the burden of student loans should be forgiven in part or, in some instances, in full. Here is what we know about what groups of people will benefit the most: women, people of color, older borrowers, and those hit by Covid-19. For more details click on the link below.
May 17th deadline is only a few days away
Things to consider: a) if you are not ready to file, make sure you or your tax prepared files extension on your behalf; b) this extension is an extension to file, not an extension to pay; c) contributions to IRA and HSA are due May 17th; d) residents of LA & TX (due to winter storm) have till June 15th to file their tax returns and make necessary payments, as well as to make IRA contributions. For residents of all other states, the deadline is May 17th.
Dragana's World
Best in Sheaux 2021
It is my pleasure to announce that my Pomeranian, Dixie (aka Fuzzy Little Dictator), will be participating and representing our CPA firm Chad M. Garland, CPA, LLC in the Best in Sheaux competition in Shreveport which will air on KTBS on June 5, 2021. Best in Sheaux is an event organized by Robinson’s Rescue, a local low cost spay/neuter not for-profit clinic. All of the proceeds from this event will go to help those furry friends in need. During the recording and our formal dinner, Dixie will be wearing handmade dresses by Sherrone Boudreau. Sherrone has done an amazing job. Stay tuned as I will be posting pictures in the next newsletter.
PS. Dixie comes to work with me on some days and this picture just shows what a hard worker she truly is. Picture taken in my office.
Let's Talk
For free consultation click on the link to schedule one on one meeting with me over zoom or face to face.
E-mail: dragana@dcmtax.com