Shay Duska & Company

01/27/2022

There may be some relief coming.

The mountainous paperwork problem has been compounded by underlying troubles plaguing the IRS for years.

01/13/2022

Here is the actual website and report from The Taxpayer Advocate Service.

The IRC requires the National Taxpayer Advocate to prepare an Annual Report to Congress that contains a summary of the ten most serious problems encountered by taxpayers each year.

01/13/2022

As we enter the new tax filing season...here is some not-so-great news about the capabilities of the IRS.

A new watchdog report explains why taxpayers may still be waiting for their 2020 tax returns, and what may be in store this tax season.

09/24/2021

The government is looking for IRS reporting on every transaction through a bank over $600. So, every time you deposit a paycheck, pay your mortgage or credit card bill, the IRS will be alerted. This is a phenomenal waste of time and taxpayer dollars. This will not only destroy small banks, it will create an even larger shadow economy. Please feel free to contact your representative about this.

Banks are pushing back against a proposal from the Biden administration that could force them to turn over customers' account information to the Internal Revenue Service.

04/08/2021

Received this great news today from Bloomberg:

Restaurant Entertainment Expenses Fully Deductible, IRS Says

Businesses can claim a 100% deduction on restaurant meals through the end of 2022, the IRS announced.

The IRS on Thursday released guidance which temporarily allows businesses a full deduction for food and beverages purchased from restaurants under a federal virus relief law, starting after Dec. 31, 2020 and before Jan. 1, 2023.
The full deduction applies only to food purchases from take out and dine-in restaurants, not pre-packaged food or groceries.
Food from third-party facilities operated by an employer isn’t eligible.

02/20/2021

This may be happening.
https://www.accountingtoday.com/news/lawmakers-ask-irs-to-extend-tax-season-until-july-15-due-to-covid?position=editorial_1&campaignname=ACT_Daily_Daily-02192021&utm_source=newsletter&utm_medium=email&utm_campaign=ACT_Daily_Daily%2B%27-%27%2B02192021&bt_ee=TSkSUzHuWKzyCZq6wnjs7hulx%2FdLLqyLLEX0kuVxVgUn4zIWZJfT4oQAwjY6TE25&bt_ts=1613732483337&fbclid=IwAR0yyQqf-ZcE-mAooP8XJ_EeiBOzCtbX_b--24LBtHmmqexHnY6G5IQW8vk

Democrats on the House Ways and Means Committee are urging the Internal Revenue Service to extend tax season beyond April 15 to give taxpayers another three months until July 15.

09/10/2020

I highly encourage taking advantage of these free weekly credit reports.
https://www.annualcreditreport.com/index.action

07/01/2020

For anyone who may still want a PPP loan: Congress has to officially approve, but it looks like it may go through..

In a surprise move, the U.S. Senate passed by unanimous consent an extension until Aug. 8 of the application period for the Paycheck Protection Program.

04/15/2020

Here is info on how to check on your stimulus check

Are you one of the 80 million Americans who got their stimulus payment? If not, here's how to track the status of your money:

04/10/2020

https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here?fbclid=IwAR3JKG4Kf7TtECoMtBPA_Uv4ZjNi4Mmgq9QUSyT-pQoOrlvJJ3x4YoWcKqY

Steps to receive the Economic Impact Payment if you haven't filed a tax return for 2018 or 2019, and aren't receiving Social Security, SS Disability Income or Railroad Retirement benefits. This payment is also referred to as "stimulus checks" or "coronavirus relief."

04/08/2020

This is a good article on what the IRS is and isn't doing during this worldwide shut down. Feel free to reach out with any questions. Stay safe and healthy!!!

Even as they still have to deal with tax season, the service is tasked with handling much of the stimulus packages.

03/20/2020

As of 8 pm Thursday, Governor Wolf shut down all non-essential business in PA. We are still working - my new office is my dining room. These are strange and uncharted times, but please be assured we are still here for you by phone, email, or video chat. The good news is that the Treasury just announced that the tax filing deadline has been extended to July 15, 2020. Please stay healthy and safe.