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June 2020 Tax Season Filing Tips

Summertime 2020, and the tax living definitely isn't easy.

Tax tip pencilHello, June. In any other tax year, this month I'd be trying to convince you to pay at least a little attention to your taxes.

If you had requested a filing extension, you'd be blowing me off because you'd have 4½ months to finish up and file last year's Form 1040.

And if you'd finished your filing, you'd be blowing me off because summer! There's plenty of time to worry about this year's taxes later this year.

I would argue that in both cases, you'd be a bit misguided, offer up some post-Tax Day filing tips for procrastinators, as well as other advice for planners, and we'd all continue on with our relaxing summertime plans.

Not June 2020.

By now we're all too well aware that the April 15 deadline for filing your return and paying any due tax has been pushed to July 15 because of COVID-19 precautions and the continuing changes to the tax code due to the pandemic.

So while there will be some 2020 tax planning tips this month, many of June's tax tidbits will look at ways to finish up our 2019 returns since, according to Internal Revenue Service data, a whole lot of us like to wait until Tax Day, whenever that might be, is looming to do our tax duty.

I know. It's not the way I wanted to spend the first full month of summer either, but here we are. And here we go with Filing Season Tax Tips for June.

As with the other months' pieces of tax advice, these June tips are highlighted in the upper right corner of the ol' blog. And as is now standard operating procedure, after each tip has its time in spotlight, it will join all the other June tips here on this page.

Let's get to them!

  1. 5 tax moves to make this COVID-19 affected June — Hello weird, scary, frustrating June 2020. We're sort of glad you're here, even though the coronavirus means many of us aren't going to be taking a summer vacation and instead are still be messing with our 2019 taxes. Here are 5 ways to start off this extended tax season. (June 1, 2020)
  2. Interest offers tax savings, costs and more forms — Interest in taxes includes the ways interest paid or interest earned affects your filings. Regardless of whether the interest cuts your tax bill or adds to it, you'll have to deal with more tax forms. Here's a look two interesting 1098s and a 1099. (June 2, 2020)
  3. More virtual tax settlement days on tap — If you and the IRS disagree on your tax liability, the agency is using technology to make your resolution efforts a bit easier and, in this time of COVID-19, safer. After several successful Virtual Settlement Days in three cities in May, the IRS has scheduled more. They're coming up in June and July in Los Angeles, Atlanta and Washington, D.C. Mark your tax calendars! (June 4, 2020)
  4. Major disasters could provide tax break — Tropical Storm Cristobal's designation as a major disaster means that some who sustained damages from it now can claim them on their taxes. Here's a look at how using Form 4684 and, just as important, when to file major disaster loss claims. (June 8, 2020)
  5. The latest COVID-19 risk? Scams — COVID-19 economic impact payments are still being distributed by the IRS. That means crooks are still trying to scam us out of our pandemic relief money. Don't fall for their phishing and other schemes. (June 9, 2020)
  6. Day camps, COVID-19 and a tax credit — Are day camps in your area opening with special COVID-19 protections? If you determine they will be able to keep your child safe, keep track of the camp expenses. You might be able to use them to claim the child and dependent care tax credit. (June 10, 2020)
  7. More IRS help on hand — In June, thousands of Internal Revenue Service workers returned to their offices. That brings to 12 the states where the tax agency employees again are working at IRS campuses instead of from home. It also means that the personnel will be plowing through 10 million pieces of backlogged tax mail. (June 14, 2020)
  8. IRS offers COVID-related tax notice grace periods — With more Internal Revenue Service staff back in their offices, tax notices that weren't sent earlier this year are finally going out. Some of them will include action deadlines that have passed. The IRS says not to worry. Taxpayers are getting more time to deal with these coronavirus-delayed IRS notices. The new due dates to answer notice questions will be, depending on the type of notice, either July 10 or July 15. (June 15, 2020)
  9. IRS offers COVID payment tracking tips — Are you still waiting for your coronavirus economic impact payment? The Internal Revenue Service has issued additional answers to questions on how to track down your missing COVID cash. (June 18, 2020)
  10. Child Tax Credit + other parental tax breaks — Father's Day is over, but the tax breaks available to most parents remain. The most popular is the Child Tax Credit, but there are plenty more way the tax code helps you cover the costs of child rearing. (June 21, 2020)
  11. Returning a COVID relief payment — The IRS sent out some COVID-19 economic stimulus payments to folks who shouldn't have received them. It wants them back and is asking those who erroneously received them to return them. It's a request, not a demand. If you're so inclined to do Uncle Sam a favor, here's how to send back your coronavirus cash. (June 22, 2020)
  12. Hang on to that COVID-19 White House letter — Remember that letter about your COVID-19 economic relief payment? The one on White House stationery and signed by Donald J. Trump? That's more than just friendly (and seemingly campaign related) from the president. You need to track it down (if you didn't toss it) and store it with your other tax records. It's an official IRS document, Notice 1444. (June 23, 2020)
  13. IRS allows RMD reversal through Aug. 31 — Many older savers have been watching tax laws as closely as their retirement investments. In recent months, they've seen several tax-friendly measures enacted. This week, they got more mostly good tax news as the IRS decided they can re-do early-2020 required minimum distributions through Aug. 31. (June 24, 2020)
  14. IRS adding interest to late refunds — There is one tiny silver lining in this coronavirus tax time. If you've yet to get your federal tax refund, when it does arrive it will include some interest that the Internal Revenue Service is adding to amounts issued after April 15. (June 26, 2020)
  15. Teenagers' summer jobs and taxes — The coronavirus pandemic is hurting job searches by teens looking for summer employment. But wait, says a new report. Hiring looks like it could pick up later in the summer. And after you're hired, you'll need these new-worker tax tips. (June 27, 2020)
  16. IRS says 7/15 is Tax Day 2020. Time for an extension? — IRS says it's not moving Tax Day again. The July 15 deadline is firm. But if you find you do need more time to fill out your tax forms, then you can get an extension. Added time to file is available not just for individual taxpayers but, as highlighted in Tax Form Tuesday, available to all sorts of entities looking for a filing extension. (June 30, 2020)

*****

Just getting started on your taxes? No problem. You can find the previous months' collected tax wisdom by clicking the links below.

And yes, you can click on May, June and June, too, but you'll just find a guy telling you to whoa up. We're not there yet. Rest assured, those tips will be added as those months arrive.

January 2020 Filing Season Tax Tips

February 2020 Filing Season Tax Tips

March 2020 Filing Season Tax Tips

April 2020 Filing Season Tax Tips

May 2020 Filing Season Tax Tips

July 2020 Filing Season Tax Tips

Coronavirus Caveat & More Information
In 2020, we're all dealing with extraordinary circumstances,
both in our daily lives and when it comes to our taxes.
The COVID-19 pandemic and efforts to reduce its transmission
and protect ourselves and our families means that,
for the most part, we're focusing on just getting through these trying days.

But life as we knew it before the coronavirus will return,
along with our mundane tax matters.
Here's hoping that happens soon!
In the meantime, you can find more on the virus and its effects on our taxes
by clicking Coronavirus (COVID-19) and Taxes.

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Today's Tax Tip

  • Key 2023 federal tax deadlines — We made it through the first week of tax season 2023, but another deadline is looming. Jan. 31 is the filing, and tax payment, deadline for taxpayers who opted not to make their final 2022 estimated tax payment on Jan. 17. This tax calendar has that and other key individual tax due dates for the rest of this year. (Jan. 30, 2023)

  • Tax Tip; click pencil for all tax tip links

  • The 2023 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
    Open sign
    Kay Bell — Native Texan
    (the blog title totally makes sense now, right?). Professional journalist. Tax geek.

My Other Accounts

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Tick ... Tick ... Tick

  • Tax Year 2023 Countdown!

    Happy New Tax Year! Are you ready to file your 2022 tax return? Me neither. But at least this year we're getting some extra time to file and pay any tax we owe. Even better, it's not COVID-19 pandemic related. Tax Day 2023 is Tuesday, April 18. This later date is because April 15, 2023, is on Saturday, and the next business day, Monday, April 17, is Emancipation Day.
    When this Washington, D.C., holiday falls on the day our federal taxes are due, it bumps Tax Day nationwide to the next business day. So this year, we have until Tuesday, April 18, to finish our federal forms and, if we find we owe, come up with the money for Uncle Sam. The states that follow the federal tax calendar, which is most of them, also tend to abide by this date change.

    The countdown clock below should help us from missing out on making important tax-saving moves the rest of this year. Plus, the Tax Moves below the counter will list some timely tasks to take care this first month of 2023, and each of the remaining 11 when they arrive. They'll speed by quickly when you're having tax fun!
    Note: I'm in the Central Time Zone, so adjust accordingly for where you live.


Time for Tax Tasks


  • monthly tax moves


  • Hello February, and ❤ to our new 2023 Valentine, the Internal Revenue Service. OK, maybe love for the IRS is a little much, but we at least want to make nice with Uncle Sam's tax collector this month as it goes into the first full, albeit short, month of the tax season. That means some taxpayers will be getting their refunds in February!

    via GIPHY

    With just 28 days, it will mean some full days for both IRS employees, some of whom are still trying to catch up on that lingering COVID-19 pandemic backlog, and all of us who'll file this month. So let's not waste anymore time, and get to some tax tasks for this shortest month of the year!

    Feb. 1: Employers and other third-party payers were to have issued us our W-2 and associated 1099 forms by Jan. 31. If you're still waiting, be patient and give them a tad more time. And don't forget to check your email, as many issuers sent out electronic notices of the online availability forms and other statements you need to file your taxes instead of relying on the U.S. Postal Service.

    Feb. 2: Happy Groundhog Day!

    Fat Groundhog; click image for Groundhog Day details

    The main reason to wait for the correct tax statements is to avoid getting caught in a Bill Murray kind of tax loop, where you have to file an amended tax return because you entered wrong info on your original 1040.

    Feb. 7: Black History Month is celebrated every day this month, commemorating the achievements by black Americans and recognizing the role of African Americans in U.S. history.

    The National Association for the Advancement of Colored People (NAACP), the nation's oldest and largest grassroots-based civil rights organization, was founded on this month, specifically on Feb. 12, 1909, the centennial anniversary of the birth of Abraham Lincoln, who issued the Emancipation Proclamation twice.

    One of the NAACP's key divisions is its Legal Defense and Educational Fund.
    If you want to support the Fund's work, during Black History Month or any day of the year, you can donate to it and, since it is a 501(c)(3) organization, claim your gift as a charitable tax deduction if you itemize. Sorry, filling out Schedule A is your only option this filing season, since Congress didn't renew the option to claim cash gifts of up to $300 for single filers or $600 for married filing jointly couples directly on Form 1040.

    Feb. 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 got lots of financial thanks for doing your job well, but remember that those tips are taxable income.

    restaurant check tip iStock
    Whether you're dining in or, still COVID leery and 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.

    If you got at least $20 in gratuities in January, you must account for the tips today by using Form 4070 to report last month's tips total to your employer.

    Feb. 12: Are your ready Chiefs, Eagles, and special television commercial fans? It's finally Super Bowl Sunday! Not only will today's 57th Super Bowl decide American professional football's champion, it's also the biggest single betting day of the year. The NFL, like the other professional U.S. sports leagues, have embraced betting. Just remember, if any of your wagers pay off, you owe tax on your winnings. Note, too, that even if your winnings are part of a fantasy sports bet, the associated taxes are very real.

    Feb. 14: Happy Valentine's Day! Do you and your better half file a joint return? Most married couples do. Remember to look over the 1040 carefully before you sign it. When both spouses sign their jointly filed 1040, each is jointly and severally liable for the entire tax amount due. I don't want to spoil your Heart Day celebration, but this means the IRS can come after either spouse for payment of a tax bill, even the husband or wife who is in more dire financial circumstances.

    Feb. 15: Today is the day that the Internal Revenue Service finally can issue refunds to filers who claimed the Earned Income Tax Credit (EITC) or additional Child Tax Credit. But don't spend the money just yet. Even if you're getting your tax refund directly deposited, the IRS' general processing time plus protocols of financial institutions receiving the refunds you’re your tax cash probably won't actually show up in your account until the end of this month.

    Feb. 20: Today is one of the reasons for tax refund delays. It's the Washington Birthday federal holiday, officially honoring George Washington, the Father of Our Country. Over the years, however, this federal (three-day, yay!) holiday has come to commemorate the contributions of all our Commanders in Chief, and is popularly known as Presidents' Day. That means we've got to give another shout out to Abraham Lincoln, who essentially was father of our income tax system, signing into law a tax on earnings to help pay Civil War costs.

    Feb. 24: You're ready to work on your tax return, but you're on a budget. No worries. The IRS and its Free File Alliance partners again offer no-cost online tax preparation and electronic filing to eligible taxpayers at the IRS' special Free File web page. This year, seven tax software companies are participating.

    IRS Free File; click image for details

    The Free File income threshold this year remains at adjusted gross income (AGI) of $73,000 or less, regardless of your filing status.

    Feb. 28: Wow! February really did speed by, especially since we were having so much tax fun. Or maybe you weren't having any fun at all trying to do your taxes yourself, even with software's prompts, and have decided to turn to professional tax help. That's a smart move, and here are some tips on how to find the perfect tax professional for your filing and planning needs. Note, though, that at this point in the filing season, you're likely to be placed at the end of that tax pro's very long client queue, as reputable tax preparers' calendars fill up fast. So again, be patient. You're at least now in tax filing line.

    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

  • 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 2023 page.

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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 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. It is not a recommendation of any specific tax action(s) you should or should not take. Similarly, mentions of products or services are not endorsements. In other words, my ramblings on the ol' blog are free advice and you know what they say about getting what you pay for. That's why when it comes to filing your taxes, I urge you to get additional, professional, paid-for guidance from an accountant, Enrolled Agent or other qualified tax preparer who is familiar with your individual tax circumstances.

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COVID-19 & Taxes

  • COVID-19
    Coronavirus has wreaked havoc
    on the 2020 and 2021 tax seasons.
    These three Coronavirus (COVID-19) and Taxes pages have details:
    March-July 2020,
    August-December 2020,
    January-December 2021, and
    January-December 2022
    You can find medical coronavirus resource links in the next section.

COVID-19 Resources

  • COVID-19
    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

February 2023

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26 27 28        

Tell it to the Hill

  • DMWT Politics Posts
  • While it's easy to rail at the IRS, for the most part we can thank — or blame — our tax laws on Congress and the White House. 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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