Tax Tips

Blog posts from CPA Nerds pertaining to the topic of tax tips.

COVID Stimulus Round 3

COVID-19 Stimulus 2021

Don’t give the IRS more money than you’re supposed to Key Provisions of Biden’s COVID Stimulus Bill Labeled as the “American Rescue Plan Act”, this bill will affect a lot of individuals and businesses. Unemployment Compensation, retroactive to 2020 tax …

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IRS Mistakenly Sent Non-Filing Notices

IRS non filing

The IRS has posted a statement on its website acknowledging that it mistakenly sent non-filer notices to thousands of taxpayers regarding their 2019 returns (“CP59 notices”). The IRS shouldn’t have sent the CP59 notices because it hasn’t finished processing all …

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The Kiddie Tax: What You Need to Know

kiddie tax 2020

2020: The Year of Unemployment Did your child collect unemployment this year? Your family may be impacted by a lesser-known piece of the Internal Revenue Code aptly labeled the “Kiddie Tax”. The Kiddie Tax was implemented by the Internal Revenue …

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Prepare Your 2020 Tax Return With Our 1040 Checklist

CPA Nerds 1040 Checklist

2020 is finally over and we all know what that means! It’s time for tax season! The COVID-19 pandemic has changed the economic landscape for just about everyone, and some of these changes may directly affect your 2020 income tax …

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Employee Retention Tax Credit (ERTC) Information to Know


The CARES Act (passed March 27, 2020) included a novel tax credit allowing eligible employers to claim a tax credit equal to 50% of qualifying wages, up to $10,000 of compensation, for a max credit of $5,000 per employee for …

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Disaster Tax Relief Act of 2020

Disaster Tax Relief Act of 2020

Highlights of Taxpayer Certainty and Disaster Tax Relief Act of 2020 Updated for Michigan Michigan COVID Relief of $465 million was passed by the Michigan legislature and was signed by Gov. Whitmer at the close of 2020 This legislation intends …

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Preparing 2020 Taxes

2020 Tax Season Preparation

2020 Tax Season Preparation It’s hard to believe, but the 2020 tax season is right around the corner! Because a little preparation today produces better results tomorrow, we are already looking ahead. We value your input and ask that you …

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4 Popular Tax Extension Questions

Tax Extension Questions

Tax Extension Questions 2020 has been a wild ride so far! While protecting your health, did you forget to file your taxes? Have no fear, because CPA Nerds is here to remind you of a few important things. In this …

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Tax Dates You Need To Know

Upcoming Tax Dates | CPA Nerds | Man signing papers

6 Upcoming Tax Dates For Your Knowledge As we approach the end of tax season, there are a number of important dates you should be aware of. We’ve compiled a list of 6 upcoming tax dates. Read more to see …

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Understanding Income Tax Brackets

Tax Brackets 2020

How Do Tax Brackets Work? Have you ever heard someone claim something like “I’m in the 22% tax bracket!”? Claims such as these are often misguided. There is a misconception that all of your income is taxed at a certain …

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