By the Numbers 2020

Welcome to the start of a new decade.

2020 is perfect for a feature on numbers. Not only is there its wonderful symmetry, but the obvious optical connotation is perfect for a look at tax-related numbers.

In fact, I even saw my way (see what I did there?) to getting a head start on the annual By the Numbers tabulating. The first numerical feature of this new year was posted on the first Friday of 2020 instead of the usual weekend day.

But that didn't stop another figure (actually figures) from getting recognized on schedule when the weekend rolled around.

Heck, at this rate, 2020 could be a momentous year for numbers from many and varied perspectives!

What remains the same, this 10th year of the ol' blog's numerical tradition is that the figures are more than just those we enter on our 1040s every year.

In keeping with the numeric posts of 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018 and 2019, the selected digits each week[end] will range from tax rate percentages to dollar amounts to titles of tax legislation to raw numbers and much, much more.

Basically, I'll choose any and every thing that can be counted in even a remote tax way as a figure to be featured each week.

Also as in past years, I'll try to get the relevant figures up each weekend, usually on Sunday. But sometimes stuff happens, meaning the featured By the Number figure goes up a bit later.

Or if I run across some noteworthy numerals that deserve posting before the weekend, then By the Numbers will be posted before or in addition to the expected publication date, like this year.

Regardless of the timing, you can always find a link to the new number on the ol' blog's home page under the multicolored numbers box (pictured on this page, too!), as well as on the year's special By the Numbers page. The newest post each week will go at the top of the list.

So welcome 2020. Let's make you count!

11
Millions out of luck and money as federal unemployment assistance ends (Dec. 29, 2020)
This post is the same as the one in the 17 featured below on Dec. 27, 2020. The new 11 figure references the 11 weeks of unemployment insurance benefits that the U.S. Department of Labor said would be paid even though the signing of the second COVID-19 relief law was late.
17
Millions out of luck and money as federal unemployment assistance ends (Dec. 27, 2020)
671 Lincoln Avenue
Real 'Home Alone' house provides nice annual tax present to property tax collector (Dec. 20, 2020)
12
It costs less in 2020 to be a True Love 12 Days of Christmas gift giver (Dec. 13, 2020)
$400,000
Tax reform is a global concern in wake of COVID-19's costs (Dec. 6, 2020)
Dec. 11
Congress must meet Dec. 11 funding deadline to avoid another government shutdown (Nov. 29, 2020); Note: legislative extensions ultimately pushed this deadline day to Dec. 28.
$435
A few tax penalties nudged up in 2021 by inflation (Nov. 22, 2020)
21
Watch out for continuing COVID-19 tax (and more) scams (Nov. 15, 2020)
60 days
IRS offers tax help to those facing COVID money troubles (Nov. 8, 2020)
12
12 year-end tax moves to make, or at least look into, in November 2020 (Nov. 1, 2020)
CP501, CP503 and CP504
IRS is resuming issuance of tax balance-due notices (Oct. 25, 2020)
1,659
Sales tax jurisdictions across the United States (Oct. 18, 2020)
9.3 percent
Joe Biden's tax proposals: a state-by-state breakout (Oct. 11, 2020)
$1.625 million
Colorado University nets $1.6 million in sports betting deal (Oct. 4, 2020)
4,966 & 10456
COVID EIPs await non-filers nationwide, especially in some NY ZIP Codes (Sept. 27, 2020)
5.5 percent
State revenue loss due to COVID-19 not as bad as feared (Sept. 20, 2020)
6
6 more tax forms added to IRS digital signature list (Sept. 13, 2020)
29.2 million
6 unemployment tax Q&A for COVID-tinged Labor Day 2020 (Sept. 6, 2020)
3,387
Irish tax cheat reports skyrocket (Aug. 30, 2020)
$18
COVID-created tax refund interest payments going to nearly 14 million filers (Aug. 23, 2020)
March 1 and July 15
IRS knows some recently issued nonpayment notices are wrong. Now what? (Aug. 16, 2020)
4
Trump COVID executive actions sidestep stalled Congressional relief talks (Aug. 9, 2020)
70 percent
Considering more COVID-19 payments on Parents' Day (July 26, 2020)
555
IRS' 555 telephone exchange is real (July 19, 2020)
1040-ES
How to make the 2 estimated tax payments also due July 15 (July 12, 2020)
37 percent
Options to deal with tax bills that many worry they can't pay (July 5, 2020)
6
Most people use COVID stimulus money to cover expenses (June 28, 2020)
2 million
Father's Day child tax credit tip, along with other tax breaks for all parents (June 21, 2020)
June 15 and 29
IRS employees returning to offices in 9 more locations (June 14, 2020)
Form RD-109NR
COVID-changed work patterns mean tax hassles, possible KC workers' refunds (June 7, 2020)
10 million
IRS workers returning June 1 to offices and 10 million pieces of unopened snail mail (May 31, 2020)
152 million and $258 billion
IRS has distributed 152 million COVID-19 relief payments worth $258 billion (May 24, 2020)
4
Hurricane season 2020 early start means it's time to prepare (May 17, 2020)
Noon on May 13
May 13 at noon is deadline to give IRS info for direct deposit of COVID-19 money (May 9, 2020)
May 5
SSI, VA recipients must update family status by May 5 to get full COVID-19 payment (May 2, 2020)
88.1 million and $158 billion
88.1 million have received COVID-19 payments, says IRS (April 24, 2020)
22 million
Some states struggling to pay coronavirus-created unemployment claims (April 19, 2020)
April 11
IRS makes first COVID-19 payments, with online option to alter delivery coming soon (April 12, 2020)
$3,058
Tax filings are still sluggish, but refunds are larger (April 5, 2020)
$1,200, $2,400 and $500
Compare COVID payments using 2019 or 2018 tax return (March 28, 2020)
July 15, 2020
July 15 tax filing and payment deadline Q&A (March 21, 2020)
3.14
A tasty Pi Day tax tip on rounding tax form entries (March 14, 2020)
$12,200, $18,350 and $24,400
Time and tax deduction method changes (March 08, 2020)
19,513
Special clinics help low-income taxpayers resolve IRS issues (March 1, 2020)
20%
20% of Canadians say tax cheating worth the risk (Feb. 23, 2020)
2015
Tax return filing & refunds are off to a slow 2020 start (Feb. 16, 2020)
5
Oscars contender 'Joker' benefited from NJ film tax breaks (Feb. 9, 2020)
02022020
Hurray for Palindrome Day 02022020 (Feb. 2, 2020)
10
IRS watchdog report indicates continued tax refund delays (Jan. 26, 2020)
55 percent
Esports join NFL, other traditional games as jock tax target (Jan. 19, 2020)
Jan. 15
Final annual estimated tax payment due Jan. 15 (Jan. 12, 2020)
31 and 1
Babies' birthdays determine tax year tax breaks (Jan. 5, 2020)
$18,428,370
Mortgage relief scammers hit with $18.5 million judgment (Jan. 3, 2020)

Today's Tax Tip

10 December tax moves — I love Santa Claus, but even the Jolly Old Elf isn’t magical enough provide the tax solutions you asked for in your letter to him. You’re going to have to make some tax moves this December yourself, like these 10 suggestions. (Dec. 1, 2024)
The 2024 Tax Tips offer ways to file your annual return, along with post-filing advice, important tax news and, of course, ways to cut your current tax year bill. You'll find the monthly assemblages on their own respective pages: January, February, March, April, May, June, July, August, September, October, November and December. Remember, tax tasks and tips don't stop after you file your annual return!

All About Kay

OK, some about Kay

Kay Bell — Native Texan
(the blog title totally makes sense now, right?). Professional journalist. Tax geek.
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Tax Season 2024 Final Push

It's over! The final 2023 tax year extended filing deadline has passed, unless you get more time because your filing due date was extended further by a natural disaster like the three hurricanes that have made landfall in Florida this fall.

For most of us, though, the passage of Oct. 15 means it's time to focus on the tax return we'll file next year. We have until Dec. 31 this year to make moves that will reduce our already accruing 2024 tax bill. The monthly tips and reminders a little further down this column suggest ways to do just that.

Finally, keep an eye on the countdown clock just below. It's keeping track of just how many days are left for us to make these tax moves.
Note: I'm in the Central Time Zone, so adjust accordingly for where you live.

Time for Tax Tasks

Ho 🎅 Ho 🎅 Ho!
December is here!
You better watch out. You better not cry. But you better make some year-end tax moves this December or next April 15 could turn out to be the tax equivalent of Santa Claus putting coal in your stocking.

Click image to hear a musical Santa message from The Boss, Bruce Springsteen.
OK, St. Nick can't deliver a festively wrapped, already prepared tax return for you (unless he's even more magical than I think!) to file next year, but he does have a tax connection.
Santa's tracking of naughty and nice boys and girls basically is the same method that the Internal Revenue Service uses. That's why we all need to be nice, especially to ourselves, in this final month of the year by making some important tax-saving moves. Let's get to it!
Dec. 1: It’s here. The last month of the year, meaning the last 31 days to make tax moves that could shave some off your 2024 tax bill, as well as set up 2025 as another saving, and easy, tax year. You could make things even easier on yourself if you opt next filing season to turn over your taxes to a professional. The key is picking the perfect tax pro for your filing (and more) needs. And you need to start your search now, as the good tax pros’ client lists fill up fast. If you can hire one soon, there’s a December bonus. You might get some year-end tax tips!

Dec. 4: In the meantime, check out these 10 tax moves to make in December. They could be the perfect tax present to give yourself.

Dec. 10: Do you work as a server at a restaurant or at any other establishment where gratuities from customers are part of your compensation? I hope you get all the tips you deserve for doing your job well. Remember, though, that those tips are taxable income.

Whether you're dining at your favorite eatery or getting food delivered to your home, if a tip isn't included on your restaurant or delivery bill, click the image above to calculate how much to tip the person who brought it to you.

And if you got at least $20 in gratuities in November for your extraordinary services as a food server or hair stylist or parking valet or whatever job where tipping is common, you must report that amount by today. Use Form 4070 to let your employer know the total tips you took in last month.

Dec. 13: It’s the holiday season, full of joy and peace and goodwill toward all. So what the heck is a Friday the 13th doing in December? Don’t worry, at least not about tax fears and superstitions. Check out the tax truth about these 13 tax misperceptions. They’ll help get you through today and help you be a fearless taxpayer year-round.

Dec. 15: Christmas is just 10 days away! If you're still shopping for gifts, you're probably searching for the perfect present online. But beware and be wary. Internet crooks also are logged on, looking to steal your money and identity. Many of the holiday scams use the same techniques as tax scammers employ. Any personal information they get now can be used at tax time to file a fake return in your name and claim a fraudulent refund. So be careful out there, now and next filing season, and, well, unfortunately all the time.

Dec. 19: Are you taking on multiple gig jobs to make some extra holiday cash to pay for all those online orders? Those added side hustles mean you're an independent contractor. And that means you're responsible for paying income taxes due on the money, as well as any self-employment tax. In most cases, that means paying estimated tax on these end-of-year earnings by Jan. 15, 2025, to avoid a possible penalty for not paying as you earned the money.

Dec. 23: It's Christmas Week! That means holiday treats, final decorations — or first, if you wait until the very end to get a tree — and frantic last-minute shopping! Rather than worry about how you'll get the perfect gift under the tree on time, consider instead giving some easy tax-favored presents. Open a Roth IRA for your child or grandchild who earned some money this year. Or pay tuition by Dec. 31 for classes that will start in the first quarter of 2025.

Dec. 24: Christmas Eve!
No taxes tonight. It's early to bed for kiddies of all ages. Santa's on his way!

Click image to watch NORAD track Santa's Christmas Eve delivery route.

Dec. 25: Merry Christmas! My gift to you is another day without tax thoughts.
Just enjoy the holiday and your family and friends.

Dec. 26: Happy Boxing Day. This unofficial holiday on St. Stephen's Day is celebrated by additional giving.
If you donate to your favorite charity on this Boxing Day or any other day by Dec. 31, on your 2023 taxes you'll have to itemize your gifts on Schedule A to claim them. If you don’t have enough expenses to exceed your standard deduction amount this tax year, consider delaying your charitable contributions until early January as part of a tax deduction bunching strategy.

Dec. 31: This is it. The drop-dead deadline to make most 2024 tax moves. A quick and easy action today is to zero out your medical flexible spending account (FSA) by buying over-the-counter medications for which the funds can be used. This is especially important if your employer doesn't offer a grace period to use the money or let you roll some FSA money over into 2025. Without those alternatives, you'll lose any FSA funds you don't use.

Done? Great! Make sure the champagne is chilling and settle in for your New Year's Eve party or a cozy night at home with your friends and loved ones. Either way, cheers and Auld Lang Syne as the ball drops at midnight.

Small Business Tax Calendar: Important filing, deposit and record keeping dates throughout the year that your company needs to know. You can get more tax calendar information at the IRS' online calendar page and view the full year's important business and individual tax dates in IRS Pub. 509.

State Tax Help

Don't forget your state taxes!
Forty-three states and D.C. collect personal income taxes. But even if you live in of the seven states without an income levy, you still face other state (and local) taxes.

State Tax Departments provides links to your state's Web page. The companion page, Tax Tidbits, is the compilation of blurbs about each state's tax laws. And for more state tax news, check out all our state tax bloggings.

Tax Forms

Thanks to our increased use of tax preparers and computer software, many of us don't see our tax forms until we sign and file them. But knowing what's on these documents, either in paper or digital form, and why the IRS wants it is key to understanding our tax system. And knowledge definitely is power, especially when it comes to tax savings. Find this valuable information in the ol' blog's special Tax Forms 2024 page.

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Tax Reading Room
You also might enjoy these other tax tips from some of my tax-writing colleagues:
J.K. Lasser 2024 Taxes
Taxes for Dummies 2024
Tax Savvy for Small Business

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I gotta tell ya ...

AKA Disclaimer:

I am a professional journalist who has been covering tax issues since 1999. I am not a professional tax preparer.

The content on Don't Mess With Taxes is my personal interpretation and opinion based on my study and understanding of tax laws, policies, and regulations. It is provided for your private, noncommercial, educational, and informational purposes only. While I work to ensure each post's accuracy, the items are not recommendations of any specific tax action(s) you should or should not take. Similarly, mentions of commercial tax products or services are not endorsements.

In other words, my ramblings on the ol' tax blog are free advice, and you know what they say about getting what you pay for. That's why when it is time for you to file your own taxes, I urge you to get additional, professional, paid-for guidance from an accountant, Enrolled Agent, or other reputable, qualified tax preparer who is familiar with your individual tax circumstances.

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COVID-19 & Taxes

Coronavirus has wreaked havoc
on the 2020 and 2021 tax seasons.
These five Coronavirus (COVID-19) and Taxes pages have details:
March-July 2020
August-December 2020
January-December 2021
January-December 2022
…and so it continues into 2023
…and, alas, into 2024
You can find medical coronavirus resource links in the next section.

COVID-19 Resources

Need help finding a coronavirus vaccine in the United States?
Call 1-800-232-0233
or TTY 1-888-720-7489.
More information and resources at:
CDC Vaccines
CDC Booster Shots
HHS Combat COVID
USA.Gov COVID Info

December 2024

..................................................

Photo by Isaac Martin on Unsplash

Tell it to the Hill

While it's easy to rail at the IRS, for the most part we can thank — or blame — Congress and the White House for our tax laws. So if you have an issue with tax legislation or want a tax bill passed, you need to let your federal legislators and the White House occupant know of your concerns. You can find out who in Washington, D.C., to contact (and how), as well as get information on your local lawmakers for matters, tax or otherwise, closer to home, at USA Gov.

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