Tax help Feed

Customs and Border Protection (CBP) Air and Marine agents survey Alabama Gulf Coast damage caused by Hurricane Sally on Sept. 16. (CBP photo by Jerry Glaser via Wikipedia Commons) Tax changes connected to the historic number of storms this 2020 Atlantic hurricane season keep on coming. This week the Internal Revenue Service announced that some Alabama individuals impacted by Hurricane Sally, which made official landfall near Gulf Shores, Alabama, on Sept. 16, now have until mid-January to deal with impending tax tasks. Sally actually began affecting Gulf Coast states on Sept. 14. That's the day cited by the IRS in... Read more →


The Brattain Fire near Paisley, Oregon, on Sept. 15, more than a week after it ignited. (Photo by Maj. Leslie Reed, Oregon Military Department Public Affairs, courtesy Oregon National Guard via Flickr) Tax season 2020 has been extended for some taxpayers. Unfortunately, the extra time to take care of tax tasks is because these individuals and businesses were threatened are dealing with the outbreak of wildfires in Oregon. The Internal Revenue Service announced that victims of the Oregon wildfires and straight-line winds that began on Sept. 7 now have until Jan. 15, 2021 to file various individual and business tax... Read more →


Louisiana National Guard members help clear roadways and assess damages on Aug. 27, 2020, in Lake Charles, Louisiana after Hurricane Laura made landfall the night before. (Courtesy of the Louisiana National Guard via Wikipedia Commons) Louisiana residents hard hit by major Hurricane Laura's landfall in that state last month now are getting some tax relief. The Internal Revenue Service has announced updated on Sept. 10 its list providing residents in 16 18 parishes until Dec. 31, 2020, to file various individual and business tax returns and make tax payments. The eligible parishes are Acadia, Allen, Beauregard, Calcasieu, Cameron, Grant, Jackson,... Read more →


UPDATED, Thursday, Sept. 3, 2020: More Iowa counties now eligible for relief. Details below. Photo courtesy Cal Fire Mother Nature is in one foul, destructive mood. California wildfires have killed seven people, destroyed more than 1,400 buildings destroyed and ravaged 1.25 million acres in the Golden State. Blazes also have burned more than 1.8 million acres in 14 states, according to the National Interagency Fire Center. Hurricane Laura, which is shown in a National Hurricane Center satellite image below (updated 10 a.m. CDT, Wednesday, Aug. 26, 2020) gaining strength in the Gulf of Mexico, is expected to swamp East Texas... Read more →


Congress is debating, sort of, the possibility of, among other pandemic-related issues, another round of COVID-19 economic relief payments (EIPs). That's good news for folks struggling to make ends meet in the wake of coronavirus-related economic troubles. But some folks haven't yet received the first stimulus checks created back in March under the Coronavirus Aid, Relief and Economic Security (CARES) Act. Created to help, but…: Now there's some good news for some encountering relief payment problems. The Taxpayer Advocate Service (TAS) now can help taxpayers in certain situations resolve their COVID-19 payment issues. "Previously, the IRS did not have a... Read more →


Photo courtesy National Taxpayer Advocate blog If you have a tax issue that you want to discuss with the Internal Revenue Service in person, there's good news. In late June, the IRS started reopening its Taxpayer Assistance Centers (TACs) across the country. By next week, all the facilities should be open. While the IRS encourages taxpayers to take advantage of its online problem solving and information gathering options, TAC employees still provide certain tax-related services. Specialized TAC services include assistance in: authenticating a taxpayer's identity and validating documents related to tax return filings or applications for an Individual Taxpayer Identification... Read more →


If tax it the time of coronavirus taught us anything, it's that tax professionals are indispensable. On the heels of getting a handle on the 2017 tax reform changes, tax pros this filing season were handed even more jobs. They helped people understand COVID-19 economic relief payments, what tax tasks were delayed until when and the Paycheck Protection Program. And now, just days after Tax Day 2020 finally came and went, another coronavirus stimulus package, no doubt with more tax implications, is in the works. The bottom line is that tax help from a reputable tax pro is critical, in... Read more →


Image courtesy SimpsonsWorld via Giphy.com Do you remember your first phone number? I'm talking about the one when you were a kid. The one you parents made you memorize in case you needed to call home for any reason. For younger folks, that's not a problem. But when you reach a certain age, not that I'm confessing to any chronologically specific range, those early memories tend to fade. Despite that natural process, some of us still remember our childhood phone numbers. You'll have to trust me on my numerical recall. I'm leery enough of hackers, con artists and other assorted... Read more →


Hello Tax Day 2020. We've been waiting for you for such a long time. In fact, a whole lot of folks have been waiting for July 15, according to research by from IPX 1031. Ultimate tax procrastinators: It's not unusual for millions to wait to file. Last year, Internal Revenue Service data showed almost 18 million filed during the last week of that tax season. That procrastination delay remained and even increased after COVID-19 pandemic precautions pushed 2020's Tax Day into the summer. IPX 1031's look at geo-targeted online search data showed that more than 22 million Americans have taken... Read more →


Meanwhile, the rest of us regular taxpayers say thanks for the offer and, as Tax Day 2020 looms, continue to look for ways to keep from paying so much on our nowhere-near-a-million earnings. If you're still working on your tax return instead of jetting off in your private plane to a luxury destination, then you might agree with the latest tax-the-rich plea. You also might need some of the tax-saving tips listed later in this post. With July 15, aka coronavirus Tax Day 2020, looming, millions of taxpayers are scouring their records and the tax laws looking for ways to... Read more →


Got enough coffee to get you through your taxes this final weekend before the July 15 due date? We're finally here. It's the last weekend before our 2019 tax returns are due on Wednesday, July 15. If you're one of the millions of filers who hasn't done your taxes yet, you've got three options: Panic, Get organized now, or Ask the IRS for more time. Your choice depends upon exactly where you are right now in the filing process. (Of course, panic could be a viable option for each of us at any time during tax season, especially if we... Read more →


Are you one of those folks who's worrying about how you'll pay your tax bill on July 15? If it's an amount that you just can't come up with or cover with a credit card, look into paying off Uncle Sam over time. The Internal Revenue Service offers a couple of ways to spread out your tax bill over several months. As with most tax transactions nowadays, you can apply for a payment plan online. But depending on the way you decide (and qualify) to pay your tax bill also involves some forms. Those documents, Form 9465 and possibly one... Read more →


Free File is under fire again. The annual tax season program, in which some tax software programs participate via a special Internal Revenue Service website, was created 17 years ago to offer no-cost tax filing to low-to-middle income taxpayers. The current agreement private/public tax filing deal is in place through Oct. 31, 2021. This year, eligible taxpayers — that's those with adjusted gross incomes of $69,000 or less, regardless of filing status — can use Free File to meet the coronavirus-delay July 15 tax filing and payment deadline. Those who decided to get an extension can use Free File until... Read more →


Tropical Storm Cristobal made landfall Sunday evening in Louisiana. Even though it quickly weakened to a tropical depression, it still is dumping copious amounts of rain across the Pelican State. The potential for flooding was part of the reason that the White House on Sunday, June 7, issued a federal disaster declaration for Louisiana. That decision allows the federal government to help pick up some of the state's disaster response costs. It also will give those who sustained Cristobal-related damages a chance to claim those losses on their taxes. Major disasters only need apply: Under the Tax Cuts and Jobs... Read more →


Video conferencing is becoming more acceptable, even in IRS communications with some taxpayers. It's possible that a few good things might come from COVID-19. We might be able to adapt our infection precautions to post-pandemic processes that are more worker friendly and business efficient. Yes, I am talking about expanded use of technology. And yes, I mean beyond subscribing to every streaming service to fill your days while you were (or are) in isolation mode. The latest example comes from the Internal Revenue Service. Uncle Sam's tax collector has for years been urging us taxpayers to file our returns electronically... Read more →


The Internal Revenue Service is beginning the process of sending out COVID-19 economic relief payments. Americans who filed a tax return in 2018 or 2019, as well as folks who got Social Security retirement or disability payments or Railroad Retirement benefits, don't have to do anything. The IRS will use the tax return or other government payment information on file to send the money, which could be a maximum of $1,200 per individual or $2,400 for married couples who file jointly, to these eligible recipients. Some people, however, don’t fall into these already on-record categories. The most notable group here... Read more →


Photo courtesy MoneyBogNewz via Flickr CC This weekend many businesses and their tax advisers are still trying to sort out the complexities of Small Business Administration Paycheck Protection Program. It's part of the $2 trillion federal coronavirus relief package, officially known as the CARES Act, that became law on March 27. The Paycheck Protection Program, or PPP, was created to get cash relatively quickly to small business owners whose operations have taken hits due to the pandemic and efforts to stem it, such as forced closures. It's supposed to have less red tape than the existing SBA loan programs and... Read more →


Thank you, Internal Revenue Service. The tax agency has confirmed that 2019 tax year contributions to individual retirement arrangements (IRAs) and health savings accounts (HSAs) can be made as late July 15. These accounts are among the very few areas where a tax break doesn't have a Dec. 31 deadline. In normal tax seasons, contributions to an IRA or HSA can be made and claimed for the prior tax year as late as April 15, which is the usual tax filing deadline. However, this year, as everyone already knows, the chaotic convergence of COVID-19 and taxes prompted the IRS to... Read more →


Retailers aren't the only ones closing their doors to customers during the coronavirus crisis. So is the Internal Revenue Service and other tax-related operations. As cases of COVID-19 increased, the IRS has acted to protect not only taxpayers but its employees. The goal is the new global mantra — to flatten the curve of the potentially deadly virus' transmission. IRS in-person actions curtailed: "We're taking several immediate steps to protect employees while still delivering on the mission-critical functions," said IRS Commissioner Charles Rettig, in a message to his staff that also is posted on the tax agency's website. These virus-affected... Read more →


UPDATE, March 24, 2020: As the coronavirus spread across the United States, the Internal Revenue Service and many associated tax programs have been adversely impacted. Volunteer Income Tax Assistance (VITA) and Tax Counseling for the Elderly (TCE) sites were among those affected, with most closing earlier this tax season. If COVID-19 conditions improve in some clinic areas before the new July 15 tax filing and payment deadline, some VITA and TCE operations may reopen. Meanwhile, some are offering phone help. Check with your local clinic (details on how to do that in the post below). Volunteer tax preparers help Florida... Read more →