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COVID Tax Tip 2021-45, April 7, 2021 Following the extension of the filing and payment deadline for individuals to May 17, 2021, the IRS announced other tax deadline extensions to the same date. Here’s what’s affected: Contributions to IRAs and health savings accounts People now automatically have until May 17, 2021, to make 2020 contributions to their: Individual retirement …
COVID Tax Tip 2021-44, April 6, 2021 The third Economic Impact Payment is different from the first and second payments in several ways. The third Economic Impact Payment is an advance payment of the 2021 Recovery Rebate Credit. The two earlier payments are advance payments of the 2020 Recovery Rebate Credit. Eligible people who didn’t get a first …
Here’s how the third Economic Impact Payment is different from earlier payments Read More »
COVID Tax Tip 2021-43, April 5, 2021 The IRS continues to issue the third Economic Impact Payment to eligible individuals. This includes Social Security recipients and other federal beneficiaries who do not normally file a tax return. Most of these payments will be sent electronically and received on April 7. Most of these payments will be sent …
IRS issuing third Economic Impact Payments to non-filers and most federal beneficiaries Read More »
IRS Tax Tip 2021-42, April 2, 2021 People should be aware of an ongoing IRS-impersonation scam that appears to target educational institutions, including students and staff who have “.edu” email addresses. The suspect emails display the IRS logo and use various subject lines, such as “Tax Refund Payment” or “Recalculation of your tax refund payment.” It …
University students and staff should be aware of IRS impersonation email scam Read More »
COVID Tax Tip 2021-41, April 1, 2021 Taxpayers can subscribe to three different IRS YouTube channels to get tax information in a short and easy to understand format and see community updates from the agency. The IRS YouTube channels are: IRS Videos IRS Videos American Sign Language IRS Videos Multilingual Here are just a few of the helpful …
IRS YouTube channels have helpful videos on a variety of tax topics Read More »
COVID Tax Tip 2021-38, March 29, 2021 The IRS continues to issue the third round of Economic Impact Payments to eligible individuals, with payments being issued as a direct deposit or by mail as a paper check or prepaid EIP debit card. No action is needed by most eligible people to receive a third Economic Impact Payment …
People should check Get My Payment for status of third EIP and watch their mail Read More »
IRS Tax Tip 2021-37, March 25, 2021 The adoption process can be expensive. Fortunately, the adoption tax credit can help offset some those expenses Taxpayers who adopted or started the adoption process in 2020 should review the rules for this credit. Here are some facts to help people understand the credit and if they can …
People who adopt may benefit from this special tax credit Read More »
COVID Tax Tip 2021-36, March 24, 2021 IRS.gov is always available and has tools to help people file and pay taxes, find information about their account, and get answers to tax questions. Here are a few things that people can do with a visit to IRS.gov. File a tax return Taxpayers who earned $72,000 or …
Answers to tax questions are available anytime on IRS.gov Read More »
COVID Tax Tip 2021-35, March 23, 2021 The IRS started issuing the third round of Economic Impact Payments. No action is needed by most taxpayers. The IRS will issue payments automatically by direct deposit and through the mail as a check or debit card. Many people will receive the third payment the same way they …
IRS is issuing third round of Economic Impact Payments Read More »
IRS Tax Tip 2021-34, March 22, 2021 Information a taxpayer gives the IRS won’t be shared with outside parties, unless allowed by the taxpayer or by law. This is the right to confidentiality. It’s one of ten rights known collectively as the Taxpayer Bill of Rights. The right to confidentiality means: The IRS won’t give any information …
The right to confidentiality is a fundamental right of all taxpayers Read More »