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Applying for a tax payment plan

Are you one of those folks who's worrying about how you'll pay your tax bill on July 15? If it's an amount that you just can't come up with or cover with a credit card, look into paying off Uncle Sam over time. The Internal Revenue Service offers a couple of ways to spread out your tax bill over several months. As with most tax transactions nowadays, you can apply for a payment plan online. But depending on the way you decide (and qualify) to pay your tax bill also involves some forms. Those do...
Tags: Taxes, Sam, Agi, Irs, Don, U S Treasury, Internal Revenue Service, Uncle Sam, The IRS, Notice of Federal Tax Lien NFTL

No more delays: What to know about the July 15 tax deadline

By Sarah Skidmore Sell, The Associated Press It’s time to do your taxes — no more delays. As the coronavirus pandemic took hold this spring, the federal government postponed the traditional April 15 filing deadline until July 15. The move provided some economic and logistical relief for taxpayers dealing with the disruptions and uncertainty brought on by lockdowns, school closures and shuttered businesses. But now that new deadline is rapidly approaching. Taxpayers must file or seek an extension...
Tags: Los Angeles, Sport, Soccer, Treasury, Irs, Michael Eisenberg, SARAH SKIDMORE, Squar Milner, Kathy Pickering

Don't miss your tax notice's July 10 deadline

Tax notices are among the pieces of mail delivered by the U.S. Postal Service in recent weeks. Due to COVID-19 complications, those documents detailing IRS questions about earlier filings have later due dates. The deadline for some is this Friday, July 10. It's the first full week of July 2020, meaning that the countdown clock over there in the ol' blog's right column (shameless plug) shows that we're just single digit days away from this year's July 15 filing deadline. And some folks hav...
Tags: Taxes, Irs, Don, Treasury Department, U S Postal Service, COVID, IRS Ways to pay that IRS

Options to deal with tax bills that many worry they can't pay

Do you have a big tax bill, but are down to your last bottom dollar? That's the worry of many taxpayers in this coronavirus-affected filing season. But you do have payment options. (Photo by cottonbro via Pexels) Tax Day 2020 is rapidly approaching and a lot of taxpayers are not ready for it. It's not just their Form 1040 filing that's an issue. They are concerned about paying any tax that's also due on this year's July 15 due date that was postponed by coronavirus precautions. The audit ...
Tags: Taxes, Sam, Irs, Don, CNC, COVID, TaxAudit, Arnold van Dyk TaxAudit, TaxAudit s van Dyk

Big IRS backlog: Months after filing their taxes, some still wait for a refund

As of April 17, the original filing deadline, the IRS had processed 24 million fewer returns than it had last year, the Taxpayer Advocate Service said         [Author: Arizona Republic]
Tags: News, Irs, Arizona Republic, Taxpayer Advocate Service

IRS adds more locations to pay tax bills in cash

If you want to pay your taxes in cash, you now have more retail locations from which to choose. But make your choice soon. It takes days to set up a cash tax payment. If you dawdle, you could end making a late cash payment and owing Uncle Sam penalty and interest charges, too. Do you like paying by cash? Then you'll be thrilled by the Internal Revenue Service's latest tax payment move. Ace Cash Express and Casey's General Stores across the country have joined 7-Eleven stores in offering a way...
Tags: Google, Post, Taxes, Irs, Austin Texas, Internal Revenue Service, Uncle Sam, Casey, ACI, IRS Taxpayer Assistance Center, General Stores, Ken Corbin, Federal Reserve s Diary of Consumer Payment Choice, IRS As IRS Wage and Investment Division

Canada: IRS Says USMCA = NAFTA For Tax Treaty Purposes - Osler, Hoskin & Harcourt LLP

On May 19, 2020, the IRS released long-awaited guidance providing comfort to taxpayers that the imminent replacement of NAFTA by the USMCA would generally not jeopardize a taxpayer's ability to rely on U.S. income tax treaty benefits.
Tags: News, Canada, Irs, Nafta, Osler Hoskin, Harcourt LLP, USMCA

Tax refunds totaling $1.5+ billion await filers who didn't submit 2016 returns, but time is running out

I know you're tired of taxes continuing into July. I know you just want to be done with your filings and the Internal Revenue Service and move on to other things. But I also know that most of you, especially if you're facing coronavirus-related financial difficulties, don't want to just hand over money, possible thousands of dollars to Uncle Sam. You'll do just that if you were due a tax refund on your 2016 taxes and didn't file for it during the 2017 tax season. That's the situation for an est...
Tags: Taxes, Washington, Massachusetts, West Virginia, Pennsylvania, Wyoming, North Dakota, New Hampshire, Idaho, Alaska, Hawaii, Iowa, Connecticut, New Jersey, Ira, District Of Columbia

Why Do People Want to See Donald Trump’s Tax Returns?

This story first appeared at ProPublica. ProPublica is a Pulitzer Prize-winning investigative newsroom. Sign up for The Big Story newsletter to receive stories like this one in your inbox. The Supreme Court is expected to rule on two cases regarding access to President Donald Trump’s tax filings soon. At the heart of the cases: Can House committees and a New York grand jury subpoena financial institutions for Trump’s personal and business tax filings? If the Supreme Court rules against Trump, ...
Tags: New York, News, Supreme Court, Russia, New York City, Treasury, Manhattan, Bill De Blasio, Donald Trump, Irs, Trump, Nixon, Vance, Trump Tower, Pew Research, Richard Nixon

Analysis: Has the IRS Hit Bottom?

Every year, the IRS annual report is an opportunity to measure how effectively the U.S. government has sabotaged its own ability to enforce its tax laws. This year’s report signals historic lows for U.S. tax enforcement.
Tags: Oversight, Irs

6 tax tasks to take care of by July 15

Hello July, which according to this year's goofy tax calendar is April. That means instead of heading to the beach, which is closed anyway due to COVID-19, or taking a longer trip to Europe, which isn't letting U.S. residents in, again due to COVID-19, we're spending mid-summer focusing on tax tasks. The main one, of course, is filing 2019 returns by the new Tax Day 2020: July 15. That date also is key for several other tax tasks to take care of in July. Here are six that you need to deal with ...
Tags: Europe, Taxes, United States, Ira, Irs, Don, Internal Revenue Service, Uncle Sam, Roth, HSA, COVID

The Brand Management Of Dead Celebrities

Dead celebrities and icons inspire us, take a place of influence and earn a place of love and respect in our hearts and minds. With various forms of intellectual property, and subject to how it is protected, managed, and creatively re-imagined, deceased celebrities and icons have great earnings potential even after they’ve left the physical world. Coupled with the reach and speed of social media, dead celebrities and icons are extending their influence, building new loyalty and deriving income ...
Tags: Congress, China, US, United States, Michael Jordan, Wheel Of Fortune, Elton John, Nba, Paula Abdul, Albert Einstein, Dell, Marley, Kobe Bryant, Bob Marley, Salesforce, Jackson

United States: IRS Issues Limited 401(k) Safe Harbor Plan Relief For COVID-19 - Smith Gambrell & Russell LLP

On June 29, 2020, the IRS created a limited window during which plan sponsors will have some additional opportunities to make changes to their safe harbor 401(k) plans.
Tags: News, United States, Irs, Russell LLP, Smith Gambrell

VA Background Check Expansion Push Ignores Reality and Less-Intrusive Alternative

VA Background Check Expansion Push Ignores Reality and Less-Intrusive Alternative, iStock-884220580 U.S.A. – -( “An Alexandria nonprofit is working to get every state to improve its background checks on gun purchasers, and Democratic lawmakers are taking notice,” a sympathetic ALXNow promotional piece masked as a news report asserts. “Safer Country was founded in 2019 by Alexandria attorney Paul Alan Friedman with the mission of taking firearms away from dangerous people. Friedm...
Tags: Facebook, Guns, Virginia, Chicago, Democrats, Lewis Carroll, Resistance, Baltimore, Bids, Irs, Alice, Alexandria, Oklahoma City, Background Checks, Friedman, David Codrea

Get All Your Free Tax Filing Options Right Here

With the delayed tax filing deadline coming at us fast—it’s July 15, don’t forget!—we’d like to take this opportunity to remind you that TurboTax, the digital tax prep software that pitches itself as a free-and-easy way to do your taxes, is in fact not so free or easy. Actually, it sucks—enough that it inspired…Read more...
Tags: Lifehacks, Tax Return, Irs, Turbotax

5 Things New Business Owners Must Know to Succeed

Starting your own business gives you a lot to be excited about, but you need to set yourself up for success. Crossing your fingers and hoping for the best just isn’t enough when in a hyper-competitive business world. These are five things all new business owners have to be aware of. Budgeting Your business’ budget needs to be kept realistic but flexible when you’re starting off. You likely won’t be able to shoot for the moon, but you need to make room for unexpected expenses that might occu...
Tags: Business, Startup, Irs, Amy, Right Now, LLC, Oregon State University, Business Bank, Chinnapong Shutterstock, Amy Sloane

Coronavirus updates: New Jersey bans smoking, drinking at casinos; Oregon, Kansas to require face masks; IRS won't extend tax deadline

New Jersey halts indoor dining, bans smoking and drinking at casinos. Oregon, Kansas will require face masks this week. Latest coronavirus news.         [Author: USA TODAY]
Tags: Usa, News, New Jersey, Usa Today, Irs, Oregon Kansas

New Taxpayer Advocate highlights COVID-19 effects on the IRS and taxpayers in her first report

Erin M. Collins took over as National Taxpayer Advocate on March 30, just as the United States was coming to grips with the coronavirus, so it's no surprise that the pandemic and its effects on taxes are part of her first official report to Congress. "Starting in the midst of a pandemic and witnessing IRS offices closing one by one was not the way I envisioned my role when I accepted the position," wrote Collins in the report's preface. But, added Collins, there's been a silver lining. In confe...
Tags: Taxes, Congress, United States, Collins, Irs, Internal Revenue Service, TFA, Collin, Olson, TAS, National Taxpayer Advocate, Taxpayer Advocate, Taxpayer Assistance Centers, Congress Starting, Taxpayer Advocate Service TAS, COVID

IRS is not extending tax deadline: 2019 returns must be filed by July 15

The IRS is encouraging people to file for an automatic extension of October 15, if they cannot meet the July 15 deadline.         [Author: USA TODAY]
Tags: Usa, News, Usa Today, Irs

IRS says U.S. taxpayers must file return by July 15 or ask for extension

If are a United States taxpayer, listen up. You must file your 2019 tax return by July 15 or file for an automatic extension to October 15, the Treasury Department said on Monday. Federal income taxes are normally due by April 15, but the deadline was delayed this year by three months due to the coronavirus pandemic. Taxpayers should file taxes by July 15th or request extension to October 15th, Treasury says. — Alan Rappeport (@arappeport) June 29, 2020 More:...
Tags: Post, Taxes, News, Tax, US news, United States, Treasury, Irs, Treasury Department, Alan Rappeport

Former high-flying VC Michael Rothenberg now faces criminal charges alleging 'multiple schemes to defraud his victims'

Former high-flying San Francisco venture capitalist Michael Rothenberg is, for the first time, facing criminal charges over allegations that he defrauded investors in his venture fund. The US Attorney's office in Northern California announced the charges on Friday, after investigations by the FBI and the IRS criminal Investigations unit. A whistleblower came forward about Michael Rothenberg's business dealings back in 2016. In a settlement with the SEC, he was barred from the investment busine...
Tags: US, San Francisco, Trends, Fbi, SEC, Silicon Valley, Irs, Securities And Exchange Commission, Northern California, Northern District of California, Rothenberg, Michael Rothenberg, Olanoff, Drew Olanoff Olaniff

Former high-flying VC Michael Rothenberg now faces criminal charges alleging 'multiple schemes to defraud' his investors

The former high-flying San Francisco venture capitalist Michael Rothenberg is, for the first time, facing criminal charges over allegations that he defrauded investors in his venture fund. The US attorney's office in Northern California announced the charges on Friday after investigations by the FBI and the IRS criminal-investigations unit. A whistleblower came forward about Rothenberg's business dealings in 2016. In a settlement with the Securities and Exchange Commission, he was barred from ...
Tags: US, San Francisco, Trends, Fbi, SEC, Silicon Valley, Irs, Drew Olanoff, Securities And Exchange Commission, Northern California, Rothenberg, Michael Rothenberg, Olanoff, Office for the Northern District of California

How Has COVID 19 Altered Your Retirement Plan?

Qualified retirement plans are a key component of financial security for owners and their employees. The SECURE Act in December 2019 and the CARES Act in March 2020 made significant changes in various rules related to retirement plans. Incentives for small businesses to adopt plans have increased and special rules related to COVID-19 have been put in place to enable employees to tap their accounts now. But taking advantage of favorable law changes requires owners to take action.  COVID-19 Acti...
Tags: Taxes, Sales, Startup, Irs, Don, COVID

United States: IRS Guidance On 2020 Required Minimum Distribution Waivers And More - Groom Law Group

On June 23, the Internal Revenue Service ("IRS") issued Notice 2020-51, which provides much-needed guidance on how defined contribution plans (including 403(b) and...
Tags: News, United States, Irs, Internal Revenue Service IRS

Most people use COVID stimulus money to cover expenses

A recent government survey found most people are spending their COVID stimulus money on necessities, like food. (Photo by Anna Shvets from Pexels) What did you do with your COVID-19 economic impact payment (EIP)? If you're like most of the folks who responded to a U.S. Census Bureau survey, you used it to pay household bills. Many in the White House and on Capitol Hill had hoped the funds would help jump-start the stalled economy and then keep it going as businesses started to reopen. Loo...
Tags: Taxes, White House, Capitol Hill, Irs, U S Census Bureau, Department of Housing and Urban Development, Census Bureau, PUF, COVID, Anna Shvets, Census Bureau Experimental Household Pulse Survey

How a New York High School Teacher With Mob Ties Allegedly Bribed a DEA Agent

By all accounts, Michael Masecchia seemed like an average English teacher at Grover Cleveland High School—a central Buffalo school whose most notable alumni include an NFL defensive end and a former U.N. official. The father of two had worked in the Buffalo public school system for more than 30 years, in which he taught at least 25,000 students and coached hundreds more in football, softball, and soccer. In 2018, his salary was around $76,949, according to court records, almost 30 percent more t...
Tags: New York, News, NFL, United States, Italy, DEA, Buffalo, Mafia, The Daily Beast, Irs, Kennedy, Co, Western New York, U S Attorney 's Office, Williamsville, Bongiovanni

Summer job 2020 prospects + 12 tax tips if you do get hired

A new study says young people looking for summer jobs should see more of these signs, just later in the season. Summer is so different this year. That's especially true for young people, who, depending on their ages, look forward to just messing around, going to camp or getting a job. Most kiddos already have been messing around for months. Hey, parents who are trying to telecommute (or really commute if they have essential jobs) and also home school during a global pandemic can only do s...
Tags: Taxes, New York Times, Irs, Drexel, Ann Carrns, Carrns, COVID, New York Times Your Money Adviser

United States: IRS Provides Guidance On PTO Donation Programs To Aid Victims Of The COVID-19 Pandemic - Ogletree, Deakins, Nash, Smoak & Stewart

The novel coronavirus (COVID-19) continues to cause widespread challenges for employers and their employees. Accordingly, employers have implemented a number of policies and programs to assist employees and others...
Tags: News, United States, Irs, Stewart, PTO, Ogletree Deakins Nash Smoak

Interesting development: IRS to add interest amount to late-issued tax refunds

If you're still waiting for your federal tax refund, the Internal Revenue Service has a bit of good news for you. When you finally get the amount that you overpaid on your 2019 taxes, Uncle Sam will tack on a bit on interest to make up for your wait. Actually, it's more than a bit if you compare it to current interest rates for most accounts. The IRS this week announced this week that it will be paying a 5 percent annual interest rate on refunds issued between April 15 and June 30. Since the IR...
Tags: Taxes, Sam, Irs, Internal Revenue Service, The IRS, COVID