Synpro Financial Solutions

The IRS is Cracking down with stricter security standards

Why the IRS wants you to log in with a video selfie The Internal Revenue Service is working with a company called ID.me as a third-party gatekeeper for accessing services on IRS.gov.

SYNPRO Financial Solutions now offers DIY Credit Restoration services.

- No Contracts (Cancel at any time)

- Virtual Platform (Covid-19 Safe)

- Free Live Training

- Free Online Support

- Dispute Letter Library

- Start Your Own Credit Repair Business (Work from home)

$99/monthly with no set up fees and no contracts.

Cancel at any time.

We will mail your monthly dispute letters for you at no additional cost.

Get started today by going to:

www.synprofinancialsolutions.com/credit-services

Or call 877-886-6378

Chlid tax credit portals online soon: IRS will let you update family info and opt out of monthly checks

Chlid tax credit portals online soon: IRS will let you update family info and opt out of monthly checks Advance monthly payments for the child tax credit start arriving July 15. Families will be able to go online before then to inform the IRS of household changes.

$10,200 refunds are on the way!

IRS is sending more than 2.8 million refunds to people who paid taxes on unemployment benefits If you received unemployment benefits last year, you may be eligible for a refund from the IRS. The first $10,200 in benefit income is free of federal income tax, per legislation passed in March. The IRS is starting to send money to people who fall in this category, with more...

Americans face delays as IRS holds nearly 30M tax returns for manual processing

Where's my tax refund? Americans face delays as IRS holds nearly 30M tax returns for manual processing The Internal Revenue Service is holding 29 million returns for manual processing, contributing to longer refund delays for many Americans.

To Our Amazing Customers & Clients,⠀
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We will be out of the office from April 8-April 13, 2021.⠀
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Please make arrangements to file or book services accordingly.⠀
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Any correspondence (email or phone calls) sent will be responded to within 2–3 days of our return.⠀
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Sincerely,⠀
�Synpro Financial Solutions

A Friday announcement, the IRS said that taxpayers who've spent at least 7.5 percent of their adjusted gross income on PPE such as masks, hand sanitizer and disinfectant wipes "for the primary purpose" of curbing the pandemic can deduct those costs from their taxes.

"Amounts paid for personal protective equipment, such as masks, hand sanitizer and sanitizing wipes, for the primary purpose of preventing the spread of the Coronavirus Disease 2019 (COVID-19 PPE) are treated as amounts paid for medical care under § 213(d) of the Internal Revenue Code," the IRS said.

The IRS also said that taxpayers can use funds in tax-exempt health savings accounts, Archer medical savings accounts, health reimbursement arrangements and health flexible spending arrangements to pay for PPE used to stop the spread of COVID-19.

These provisions apply only to PPE-related expenses not covered by the cost of insurance incurred since Jan. 1, 2020. The IRS had previously extended the deadline to file 2020 taxes to May 17.

IRS had a backlog of nearly 12 million paper tax returns by Christmas, says watchdog Backlogs of paper tax returns ballooned due to the Covid pandemic, according to a report. An IRS official urged taxpayers to file an electronic return.

Interesting

List: The 50 highest paying jobs in St. Louis In St. Louis, the annual mean wage is $51,750, or 3.3% lower than the national mean of $53,490.

Some individuals with unpaid debts could have their stimulus money seized this time around...

$1,400 stimulus checks can be seized by private collectors for unpaid debts President Biden on Thursday signed into law a sweeping coronavirus relief package that includes $1,400 stimulus checks for many Americans — but some individuals with unpaid debts could have that money seized this time around.

Those awaiting the arrival of the third stimulus payment, which could start being deposited as soon as this weekend, will soon be able to track its status on the Internal Revenue Service's (IRS) website.

Like the other two stimulus payments, you can track the status of yours using the IRS's Get My Payment tool. However, the tool is not available yet for the American Rescue Plan (ARP) payments, as the IRS needs time to review the law's tax provisions.

Those with direct deposit set up with the IRS will receive their payments first. After those deposits, the IRS will mail paper checks and pre-paid debit cards to everyone else who qualifies. The Get My Payment tool will tell users what type of payment they can expect.

When the tool does go online, it will not show the status of the first two stimulus payments. People who were eligible for those but haven't yet received one or both will need to claim the Recovery Rebate Credit on their 2020 tax returns.

(Reminder the IRS Get My Payment Is Temporarily Offline)

Get My Payment | Internal Revenue Service Use Get My Payment to get information about your payment status and payment type.