Today is the filing extension deadline. Most taxpayers who requested an extension of time to file their 2019 tax return must file today.
Those filing today who also owe taxes should pay as much as possible to reduce interest and penalties. The extension of time to file is not an extension to pay. Taxes must be paid on the original due date to avoid any penalty and interest charges.
Have you ever questioned how some terms or phrases are either outdated or don’t even make any sense? For example, when was the last time you actually “dialed” the phone? Except for your great aunt Edna, rotary dial phones are no longer in existence. We don’t dial anything; we just tap it or touch it.
What about taping a video? We don’t use tape anymore. We’re not using VCRs to record anything, we record it with bytes, not footage. Footage implies the film is measured in feet, but there aren’t any length measurements when it comes to recording a video.
Federal Taxpayers should file electronically and request direct deposit for refunds, eFiling is fast, easy and secured.
The Internal Revenue Service reminds taxpayers who filed an extension that the Oct. 15 due date to file their 2019 tax return is near. Taxpayers should file their tax returns on or before the Oct. 15 deadline. For those who still owe, pay as soon as possible to reduce any penalties and interest.
Convenient electronic filing options, including IRS Free File, are still available. Taxpayers and tax professionals should continue to use electronic options to support social distancing and speed the processing of tax returns, refunds and payments.
Although October 15 is the last day for most people to file, some taxpayers may have more time.
Closing a business is always a difficult decision regardless of the circumstances. With this in mind, the IRS redesigned the closing a business page of IRS.gov to help business owners navigate the federal tax steps when closing a business.
Small businesses and self-employed taxpayers will find a variety of information on the page including:
What forms to file
How to report revenue received in the final year of business
All states allow absentee voting, but there are many differences in their procedures and deadlines.
Forty states plus Washington, D.C., allow voters to come to their polling place in-person days or weeks before the election. There are 34 states, plus Washington, D.C., that allow any registered voter to request an absentee ballot without an excuse. Five of those states – Washington, Oregon, Utah, Colorado and Hawaii – conduct their elections with all-mail voting, while also giving voters the option to vote early in-person at the polls.
I never thought I could be friends with a piece of technology that is exceptionally nosey. I’m a pretty private person, and the thought of sharing my physical data makes me pretty uncomfortable.
Sharing my sleeping patterns, my eating habits, and how often my heart rate was elevated isn’t my idea of privacy. However, we recently partnered with Rolling Strong to do a wellness competition, and I donned a Fitbit Versa for the challenge.
Mistakes are a part of life, we take action and we learn from them. Most mistakes made on tax returns are due to trial or human error and can be easily corrected by filing amendments. There are however few instances where certain errors might go unnoticed and the IRS will send you a notice by mail to keep you informed. The notice or letter will explain the reason for the contact and brief you with detailed instructions on how to have this resolved.
There are many reasons why the IRS may send a letter or notice. It typically is about a specific issue on your federal tax return or tax account. The IRS generally sends notices and letters based on the following grounds:
Taxpayers who e-file can get a stamped Schedule 1 within minutes after the IRS accepts the form. Due to COVID-19, those who choose to file on paper can expect a significant delay in receiving their IRS stamped Schedule 1.
The IRS has suspended the mailing of three notices – the CP501, the CP503 and the CP504 – that go to taxpayers who have a balance due on their taxes. Although the IRS continues to make significant reductions in the backlog of unopened mail that developed while most IRS operations were closed due to COVID-19, this temporary adjustment to processing is intended to lessen any possible confusion that might be associated with delays in processing correspondence received from taxpayers.
Victims of the California wildfires that began Aug. 14 now have until Dec. 15, 2020 to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.
The IRS is offering this relief to any area designated by the Federal Emergency Management Agency (FEMA) as qualifying for individual assistance. Currently this includes Lake, Monterey, Napa, San Mateo, Santa Cruz, Solano, Sonoma and Yolo counties in California, but taxpayers in localities added later to the disaster area will automatically receive the same filing and payment relief. The current list of eligible localities is always available on the disaster relief page on IRS.gov.