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Tax Tip 2020-56, May 13, 2020 Due to COVID-19, the IRS’ People First Initiative provides relief to taxpayers on a variety of issues from easing payment guidelines to delaying compliance actions. This relief is effective through the filing and payment deadline, Wednesday, July 15, 2020. Existing Installment Agreements –Under an existing Installment Agreement, payments due between April 1 and …

IRS People First Initiative provides relief to taxpayers facing COVID-19 issues Read More »

COVID Tax Tip 2020-55, May 12, 2020 IRS.gov has answers to many questions people may have about their Economic Impact Payment. Here are answers to some of the top questions people are asking about these payments. Is this payment considered taxable income? No, the payment is not income and taxpayers will not owe tax on …

What people really want to know about Economic Impact Payments Read More »

COVID Tax Tip 2020-52, May 6, 2020 The federal income tax filing deadline has been extended to July 15. Taxpayers also have until July 15 to make any federal income tax payments that were originally due on April 15, without penalties and interest, regardless of the amount they owe. This extension applies to all taxpayers. …

Taxpayers have until July 15 to file and pay their taxes Read More »

COVID Tax Tip 2020-50, May 4, 2020 People who receive Supplemental Security Income and Department of Veterans Affairs benefits who have children need to act by May 5 to quickly receive the full amount of their Economic Impact Payment. Those who need to act are those who receive SSI or VA Compensation and Pension benefits and didn’t …

VA and SSI recipients act now to add eligible children to Economic Impact Payment Read More »

COVID Tax Tip 2020-51, May 5, 2020 Low-income individuals who are U.S. citizens, permanent residents or qualifying resident aliens with a work eligible Social Security number are eligible to receive an Economic Impact Payment. Those who do not have a regular filing requirement can use the free, online tool Non-Filers: Enter Payment Infoto quickly and easily register …

Low-income people are eligible to get an Economic Impact Payment Read More »

COVID Tax Tip 2020-62, May 27, 2020 Many people have already received their Economic Impact Payment, and many more will be getting them soon. Whether it’s already there or on the way, the payment brings questions from many people. Anyone who has questions can visit IRS.gov for updated FAQs about the Economic Impact Payment. Here …

Economic Impact Payment FAQs updated on IRS.gov Read More »

COVID Tax Tip 2020-49, May 1, 2020 SSI and VA recipients who have children and weren’t required file a tax return in 2018 or 2019 should visit the Non-Filers: Enter Payment Info Here tool on IRS.gov by May 5. This will help ensure they receive their full Economic Impact Payment as soon as possible. This tool is available in …

SSI and VA recipients with a child who don’t file taxes should visit IRS.gov Read More »

COVID Tax Tip 2020-48, April 30, 2020 The IRS has two tools to help millions of taxpayers with their Economic Impact Payment. The payments are $1,200 per eligible person and up to $500 for each qualifying child. The first tool, Non-Filers: Enter Payment Info Here is available – in English and Spanish – for certain taxpayers who don’t …

Tools to help people get their Economic Impact Payment Read More »