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Reviewing these disaster resources now can help taxpayers be more prepared later

2020, Tax Tips / By

IRS Tax Tip 2020-138, October 19, 2020 No one can fully prepare for a disaster, but knowing what resources are available beforehand can make the recovery a little easier. Here’s a list of resources that taxpayers might find helpful before and after a disaster: Tax relief in disaster situations — This page features links to disaster …

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2020 IRS Nationwide Tax Forum seminars now available online

2020, Tax Tips / By

IRS Tax Tip 2020-144, October 28, 2020 Eighteen new seminars from the 2020 Nationwide Tax Forum are now available on IRS Nationwide Tax Forums Online. These self-study seminars provide information using interactive videos, PowerPoint slides and audio transcripts. These and all other previously recorded sessions from prior IRS Nationwide Tax Forums will be available for $29 …

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All taxpayers have the right to privacy – it’s the law

2020, Tax Tips / By

IRS Tax Tip 2020-141, October 22, 2020 One of the IRS’s top priorities is protecting the privacy rights of America’s taxpayers. The agency takes this so seriously that the right to privacy is one of ten rights the Taxpayer Bill of Rights gives all taxpayers. Taxpayers have the right to expect that any IRS inquiry, audit or enforcement …

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What happens after a disaster that leads to taxpayer relief

2020, Tax Tips / By

IRS Tax Tip 2020-140, October 21, 2020 No matter how devastating a disaster is, before the IRS can authorize any tax relief, FEMA must issue a major disaster declaration and identify areas qualifying for their Individual Assistance program. Here’s a list of tax-related things that usually happen after a major disaster strikes: The IRS gives …

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Helpful information for taxpayers on backup withholding

2020, Tax Tips / By

IRS Tax Tip 2020-136, October 14, 2020 Taxpayers who receive certain types of income may have backup withholding deducted from these payments. Backup withholding can apply to most payments reported on certain Forms 1099 and W-2G. Here are some facts to help taxpayers understand backup withholding.              Backup withholding is required on certain non-payroll amounts when certain …

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IRS extends Economic Impact Payment registration deadline for non-filers to Nov. 21

2020, Tax Tips / By

COVID Tax Tip 2020-135, October 13, 2020 The deadline to register for an Economic Impact Payment using the Non-Filers tool is extended to November 21, 2020. The IRS urges people who don’t typically file a tax return – and haven’t received an Economic Impact Payment – to register as quickly as possible using the Non-Filers: Enter …

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People experiencing homelessness may qualify for an Economic Impact Payment

2020, Tax Tips / By

Updated 10/9/2020. COVID Tax Tip 2020-132, October 6, 2020 People experiencing homelessness may be eligible for a $1,200 Economic Impact Payment and $500 for each qualifying child under age 17. To get this payment, they must register with the IRS by using the free Non-Filers: Enter Payment Info Here tool by Saturday, November 21, 2020. If someone’s income is …

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Here’s what taxpayers need to know about their right to finality

2020, Tax Tips / By

IRS Tax Tip 2020-134, October 8, 2020 Taxpayers interacting with the IRS have the right to finality. This is especially for taxpayers who are being audited. This is one of ten basic rights —collectively known as the Taxpayer Bill of Rights. For taxpayers who are in the process of an audit, here’s what they should know …

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