What someone should do if they missed the May 17 deadline to file and pay taxes. The federal income tax deadline has passed for most individual taxpayers. However, some haven’t filed their 2020 tax returns or paid their tax due.   If an individual taxpayer is owed a refund, there’s no penalty for filing late.… Read More

Aquí un consejo en video del IRS: ¿Debe impuestos y no puede pagar? Español | Inglés Suscríbase hoy: Los canales del IRS en YouTube brindan videos cortos e informativos en una variedad de temas tributarios en español, inglés y ASL. www.youtube.com/irsvideosmultilingua www.youtube.com/irsvideos www.youtube.com/irsvideosASL… Read More

Employers filing employment tax returns and claiming an employer tax credit should read the instructions for Form 941 and carefully complete the form to avoid mistakes. Using a reputable tax preparer including a certified public accountant, enrolled agent or other knowledgeable tax professional can also help avoid errors. Mistakes can result in a processing delay or a balance due notice, which could mean… Read More

The IRS would receive an extra $ 80 billion and more authority over the next 10 years to crack down on tax evasion. Full Story: New York Times… Read More

Now that many taxpayers have filed their federal tax returns, they’re eager for details about their refund. When it comes to refunds, there are several common myths that can mislead taxpayers. Getting a refund this year means there’s no need to adjust withholding for 2021 To help avoid a surprise next year, taxpayers should make… Read More

Although payments are automatic for most people, the IRS continues to urge people who don’t normally file a tax return and haven’t received Economic Impact Payments to file a 2020 tax return to get all the benefits they’re entitled to under the law, including tax credits such as the 2020 Recovery Rebate Credit, the Child Tax… Read More

Qué deben hacer los contribuyentes que reciben una carta o aviso del IRS El IRS envía cartas o avisos a los contribuyentes por una variedad de razones que incluyen si: Tienen impuestos no pagados. Se les debe un reembolso mayor o menor. La agencia tiene una pregunta acerca de su declaración de impuestos. Necesitan verificar… Read More

IRS letters explain why some 2020 Recovery Rebate Credits are different than expected As people across the country file their 2020 tax returns, some are claiming the 2020 Recovery Rebate Credit (RRC). The IRS is mailing letters to some taxpayers who claimed the 2020 credit and may be getting a different amount than they expected. It’s important… Read More

In extending the deadline to file Form 1040 series returns to May 17, the IRS is automatically postponing to the same date the time for individuals to make 2020 contributions to their individual retirement arrangements (IRAs and Roth IRAs), health savings accounts (HSAs), Archer Medical Savings Accounts (Archer MSAs), and Coverdell education savings accounts (Coverdell… Read More

For tax year 2017 Federal income tax returns, the normal April 15 deadline to claim a refund has also been extended to May 17, 2021. The law provides a three-year window of opportunity to claim a refund. If taxpayers do not file a return within three years, the money becomes property of the U.S. Treasury.… Read More