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IRS Tax Tip 2020-120, September 16, 2020 Taxpayers can get quick access to popular IRS tools by using IRS2Go on their mobile device. The mobile app is available and free to download on any iOS or Android device. The app is available in both English and Spanish. People can use it tocheck their refund, make a payment, …
Free IRS2Go app puts information at taxpayers’ fingertips Read More »
IRS Tax Tip 2020-119, September 15, 2020 When something happens to a taxpayer’s account, that taxpayer has the right to be informed about the activity. In fact, this right is one of ten outlined in the Taxpayer Bill of Rights. The right to be informed is at the top of the list. This means taxpayers have …
COVID Tax Tip 2020-117, September 10, 2020 Due to the Coronavirus pandemic, millions of Americans received or are currently receiving unemployment compensation, many of them for the first time. It’s important for these individuals to know that unemployment compensation is taxable. People can have taxes withheld from this compensation now to help avoid owing taxes on …
People should have tax withheld from unemployment now to avoid a tax-time surprise Read More »
Updated September 10, 2020: Added Forms 706, 706-NA, 709, 1120-ND, 3115, 3520, and 3520-A. COVID Tax Tip 2020-116, September 9, 2020 Taxpayers are encouraged to e-file forms this year, whenever possible, because of COVID-19. To protect the health of taxpayers and tax professionals, the IRS is temporarily allowing the use of digital signatures on some tax …
E-signatures temporarily allowed on some tax forms Read More »
IRS Tax Tip 2020-115, September 8, 2020 Some taxpayers earn income not subject to withholding. For small business owners and self-employed people this can mean making quarterly estimated tax payments. Here are some important things taxpayers should know about estimated tax payments: Taxpayers generally must make estimated tax payments if they expect to owe $1,000 or …
Some taxpayers may need to make estimated tax payments Read More »
IRS Tax Tip 2020-114, September 3, 2020 The IRS will correct common errors during processing. However, there are certain situations in which a taxpayer may need to file an amended return to make a correction. Taxpayers can now file amended returns electronically. Here are some tips for anyone who discovered they made a mistake or forgot to include …
Tips for taxpayers who need to file an amended tax return Read More »
COVID Tax Tip 2020-113, September 2, 2020 The IRS has reopened the registration period for individuals who receive Social Security, Supplemental Security Income, Railroad Retirement or veteran’s benefits, but didn’t receive $500 per child earlier this year when they received their own Economic Impact Payment. Federal benefit recipients can use the Non-Filers: Enter Payment Info Here tool …
IRS Tax Tip 2020-112, September 1, 2020 When hiring a company to handle payroll and payroll tax, employers should carefully choose their payroll service provider. This can help a business avoid missed deposits for employment taxes and other unpaid bills. Most of these businesses provide quality service but there are some who don’t have their …
Choosing a trustworthy payroll service provider can protect employers from fraud Read More »
COVID Tax Tip 2020-111, August 31, 2020 In mid-August interest payments were sent to nearly 14 million individual taxpayers. People who got these payments filed their 2019 federal income tax returns by the July 15 deadline and were owed refunds. These interest payments averaged about $18. The IRS issued most of the payments separately from …
Millions of taxpayers receive a tax refund interest payment Read More »
IRS Tax Tip 2020-110, August 27, 2020 Individual taxpayer identification numbers are used by taxpayers who have tax filing or payment obligations under U.S. law but who are not eligible for a Social Security number. People with expiring individual taxpayer identification numbers should renew their number ASAP. This will help avoid unnecessary delays related to their …
Taxpayers should renew expiring ITINs early to avoid a refund delay next year Read More »