Taxpayers Assistance Centers

Taxpayers Assistance Centers Begin Reopening Monday, 06-29-2020 Taxpayer Assistance Centers (TACS) began reopening to the public with a phased approach. To ensure the safety of the public and employees, those seeking in-person assistance at the TAC should call 1-844-545-5640 to make an appointment. Appointments will be available if they need assistance for authentication of identity […]

IRS announces Rollover Relief for Required Minimum Distributions

The Internal Revenue Service today announced that anyone who already took a required minimum distribution (RMD) in 2020 from certain retirement accounts now have the opportunity to roll those funds back into a retirement account following the CARES Act RMD waiver for 2020. The 60-day rollover period for any RMDs already taken this year has […]

Keep Economic Impact Payment notice with other tax records

People who received 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 mails this notice to each […]

ALERT!: Economic Impact Payments

Economic Impact Payments belong to the recipient, not nursing homes or care facilities. The Internal Revenue Service today alerted nursing homes and other care facilities that Economic Impact Payments (EIP’s) generally belong to the receipts, not the organization providing the care. The IRS issued this reminder following concerns that people and businesses may be taking […]

An Extension to File your Taxes

An extension to file is not an extension to pay taxes. For most taxpayers the filing and payment deadline was postponed until July 15. Those who need more time to file beyond the postponed date, can request an extension to file. Taxpayers must request an extension to file by July 15. This gives them until […]

IRS Warns against COVID -19 Fraud; other financial schemes

The IRS reminds taxpayers to continue to guard against tax fraud and other related financial scams related to COVID-19. Criminals seize on every opportunity to exploit bad situations, and this pandemic is no exception. Criminals are continuing to use the COVID-19 Economic Payments as cover for schemes to steal personal information and money. Scams related […]

SiSix Secrets Professionals Use to Choose Financial Advisors

Choosing a financial advisor is a major decision that can determine your financial course for years to come. 1. Always hire an advisor who is a Fiduciary- a fiduciary is ethically bound to act in another person’s best interest. This obligation eliminates conflict of interest. 2. Don’t hire the first advisor you meet- take time […]

IRS Chief Counsel goes virtual with national Settlement Days

The Internal Revenue Service Office of Chief Counsel is expanding its Virtual Settlement Days program after the tremendous success achieved by three offices that took Settlement Days events virtual in May 2020. Settlement Days events are coordinated efforts to resolve cases in the United States Tax Court (Tax Court) by providing taxpayers not represented by […]

Taxpayers who still haven’t filed their 2018 tax return

Millions of ITIN’s set to expire in 2019; Renew early to prevent refund delays Nearly 2 million Individual Taxpayer Identification Numbers (ITINs) are set to expire at the end of 2019. The IRS continues to urge affected taxpayers to submit their renewal applications early to avoid refund delays next year. Renewing before the end of […]

Taxpayers who still haven’t filed their 2018 tax return

Taxpayers who still haven’t filed their 2018 tax return Some things taxpayers should know: Penalties and interest are only added on unfiled returns if the taxpayer did not pay taxes by the April deadline. Taxpayers who did not file and owe tax should file a tax return and pay as much as they are able […]