In 2020 lawmakers put in place several provisions that allowed for additional tax benefits for individuals and businesses making charitable donations. As in 2020, the following tax benefits are in place: • Taxpayers who do not itemize can claim a deduction of up to...
We love working really hard for our clients all year long, but especially during the 14-weeks of tax season! We are currently hiring for a variety of job positions within in the firm–some are for tax season & some are year-round. If you or someone you know...
Great news for college students! Federal student loan rates for the 2020-21 school year have dropped to the lowest point ever: 2.75% for both subsidized and unsubsidized undergraduate loans. Please see this chart for additional details. Thank you, Dave Lundregan at...
At Nichols & Company, we know many of you are assisting elderly parents or grandparents right now. In an effort to support you, we wanted to share that the IRS has launched a new tool to assist non-filers in registering their current information for their Economic...
If you’ve tried contacting the IRS recently, you might have noticed a few things have changed. Here are a few highlights you may wish to be aware of: 1) 70,000+ IRS workers are trying to work remotely. This has resulted in the closure of most local offices,...
To help ease the financial effects of the COVID-19 pandemic, the federal government is planning to send stimulus checks to all taxpayers in the coming weeks. For your planning purposes, we wanted to share with you their guidelines for determining eligibility. It is...