News For Your Week Ahead: August 26, 2021

On this week’s MSATP TV, Education Committee Chair Bob Medbery gave us insight into the upcoming seminar season. Click the button below to learn about the exciting events you should attend this fall!

Watch on YouTube.

Coming Up: On Wednesday, September 1, at 10 a.m., James George will join us for a full rundown of this year’s Business Builders Connection Conference in Bethany Beach, DE. Check out the event details below and get registered today!

Be sure to Like/Follow us on Facebook so you can catch MSATP TV live every week.

Interest Rates Remain The Same for the Fourth Quarter, 2021 | IR-2021-173

The Internal Revenue Service announced that interest rates will remain the same for the calendar quarter beginning Oct. 1, 2021.  The rates will be:

• 3% for overpayments [2% in the case of a corporation];
• 0.5 % for the portion of a corporate overpayment exceeding $10,000;
• 3% percent for underpayments; and
• 5% percent for large corporate underpayments.

Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis.  For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.

For more information, click here.

Here’s How Taxpayers Can Rebuild Records After A Natural Disaster| Tax Tip 2021-125

After a natural disaster, taxpayers need records to help them prove and recover disaster-related losses. This may be for tax purposes, getting support from federal assistance program or for insurance claims.

While personal or business property may have been destroyed, all hope is not lost. Here are some steps that can help people reconstruct important records.

Tax records

• Get free tax return transcripts immediately using Get Transcript on IRS.gov.
• Order transcripts by calling 800-908-9946 and following the prompts.

For more information, click here.