News & Helpful Information
Before a natural disaster strikes, taxpayers are encouraged to prepare, if possible. This includes developing evacuation plans, putting together kits of essential supplies and putting financial safety measures in place.
Every year the IRS mails letters or notices to taxpayers for many different reasons. Here are some do’s and don’ts for taxpayers who receive one.
Qualified individuals affected by COVID-19 may be able to withdraw up to $100,000 from their eligible retirement plans, including IRAs, between Jan. 1 and Dec. 30, 2020.
The IRS today reminds taxpayers who took advantage of the People First Initiative tax relief and did not make previously owed tax payments between March 25 to July 15 that they need to restart their payments.
Here Are Reasons People Should File a 2019 Tax Return; Economic Impact Payment, Tax Credits Available For Some
While many people are required to file a tax return, it’s a good idea for everyone to determine if they should file. Some people with low income are not required to file but will need to do so to get a tax refund.
People who receive an Economic Impact Payment this year should keep Notice 1444, Your Economic Impact Payment, with their tax records.
Now that many taxpayers have filed their federal tax returns electronically and the IRS is back to processing paper tax returns sent by mail, they’re eager for details about their refund. When it comes to refunds, there are several common myths.
The Internal Revenue Service today reminded taxpayers to guard against tax fraud and other related financial scams related to COVID-19.
The deadlines to file and pay 2019 federal income taxes are postponed to July 15, 2020. If they need more time to file taxpayers can use IRS Free File through July 15 to electronically request an automatic extension to file until Thursday, October 15. Taxpayers should remember that an extension of time to file is not an extension of time to pay.
Nearly four million people are being sent their Economic Impact Payment by prepaid debit card, instead of paper check. The determination of which taxpayers receive a debit card was made by the Bureau of the Fiscal Service, another part of the Treasury Department that works with the IRS to handle distribution of the payments.