Admin TCH

Deadline for estimated tax payments postponed until Wednesday, July 15

2020, Tax Tips / By

COVID Tax Tip 2020-79, July 2, 2020 As part of its response to COVID-19, the IRS has postponed several tax deadlines until Wednesday, July 15, 2020. These postponements generally apply to all taxpayers with a filing or payment deadline between April 1 and July 15, 2020. This relief includes individual and corporate quarterly estimated tax payments. Any taxpayer …

Deadline for estimated tax payments postponed until Wednesday, July 15 Read More »

Here are reasons people should file a 2019 tax return; Economic Impact Payment, tax credits available for some

2020, Individual, Tax Tips / By

COVID Tax Tip 2020-77, June 30, 2020 While many people are required to file a tax return, it’s a good idea for everyone to determine if they should file. Some people with low income are not required to file but will need to do so to get a tax refund. The Interactive Tax Assistant – Do …

Here are reasons people should file a 2019 tax return; Economic Impact Payment, tax credits available for some Read More »

Don’t forget, Social Security benefits may be taxable

2020, Tax Tips / By

Tax Tip 2020-76, June 25, 2020 Taxpayers receiving Social Security benefits may have to pay federal income tax on a portion of those benefits. Social Security benefits include monthly retirement, survivor and disability benefits. They don’t include supplemental security income payments, which aren’t taxable. The portion of benefits that are taxable depends on the taxpayer’s …

Don’t forget, Social Security benefits may be taxable Read More »

Keep Economic Impact Payment notice with other tax records

2020, Tax Tips / By

COVID Tax Tip 2020-74, June 23, 2020 People who receive an Economic Impact Payment this year should keep Notice 1444, Your Economic Impact Payment, with their tax records. This notice provides information about the amount of their payment, how the payment was made and how to report any payment that wasn’t received. For security reasons, the IRS …

Keep Economic Impact Payment notice with other tax records Read More »

Returning an Economic Impact Payment

2020, Individual, Tax Tips / By

COVID Tax Tip 2020-73, June 18, 2020 Millions of eligible individuals have already received their Economic Impact Payments. Some people, including those who received a payment for a deceased individual, may be unsure whether they should return a payment. Here is additional information about returning an Economic Impact Payment. How should an individual return an Economic …

Returning an Economic Impact Payment Read More »

An Economic Impact Payment can come on a prepaid debit card

2020, Individual, Tax Tips / By

COVID Tax Tip 2020-70, June 12, 2020 Some people may get their Economic Impact Payment in the mail on a prepaid debit card, instead of a paper check. People may receive a debit card even if Get My Payment shows they are receiving a check. There’s a special section about prepaid debit cards on IRS.gov. Here are a few …

An Economic Impact Payment can come on a prepaid debit card Read More »