Child Tax Credit Payments Have Begun. Should You Opt Out?

While the payments in advance of tax season are a welcome relief for many families, there may be reasons for others to decline the money, for now.

#child-tax-credits-and-stipends, #content-type-service, #federal-taxes-us, #income-tax, #internal-revenue-service, #personal-finances, #tax-credits-deductions-and-exemptions, #tax-preparers-and-preparation

Tax Day 2021: Here’s What You Need to Know

The I.R.S. said tax filers who needed more time could have an extra month. The federal tax deadline has arrived.

#coronavirus-aid-relief-and-economic-security-act-2020, #federal-taxes-us, #freelancing-self-employment-and-independent-contracting, #income-tax, #internal-revenue-service, #tax-preparers-and-preparation, #taxation, #unemployment-insurance

The Tax Filing Deadline Was Delayed to May 17. Here’s What to Know.

The federal government and most states pushed back the date to May 17, but others have gone their own way. And if you make estimated tax payments, the deadline remains April 15.

#american-institute-of-certified-public-accountants, #content-type-service, #coronavirus-2019-ncov, #federal-taxes-us, #freelancing-self-employment-and-independent-contracting, #income-tax, #internal-revenue-service, #national-conference-of-cpa-practitioners, #personal-finances, #tax-preparers-and-preparation

I.R.S. Pushes Tax Deadline Back One Month

Filers will have until May 17, according to lawmakers. The extra time is intended to ease the burden on Americans dealing with the economic upheaval caused by the pandemic.

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The Tax Headaches of Working Remotely

“Each state has its own rules,” one tax expert says. So if you worked in a state other than your usual one in 2020, here are some tips on dealing with the tax season.

#content-type-service, #coronavirus-2019-ncov, #income-tax, #personal-finances, #quarantine-life-and-culture, #shutdowns-institutional, #states-us, #suits-and-litigation-civil, #tax-credits-deductions-and-exemptions, #tax-preparers-and-preparation, #taxation, #telecommuting

How Your 2020 Taxes Are Affected by the Coronavirus Pandemic

New rules, many of them temporary, give taxpayers breaks that can cut their tax bills or even generate extra refunds this year.

#content-type-service, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-taxes-us, #income-tax, #internal-revenue-service, #personal-finances, #rebates-and-refunds, #stimulus-economic, #tax-credits-deductions-and-exemptions, #tax-preparers-and-preparation, #unemployment-insurance

A Love Letter to My Accountant

My relationship with him is the most positive one I’ve ever had with a man over money.

#accounting-and-accountants, #art, #black-people, #content-type-service, #coronavirus-2019-ncov, #federal-taxes-us, #finances, #quarantine-life-and-culture, #tax-preparers-and-preparation, #writing-and-writers

A Break for Working Families

The government is allowing people who qualify for the earned-income tax credit to use income from either 2020 or 2019, whichever will result in a bigger credit.

#content-type-service, #coronavirus-2019-ncov, #families-and-family-life, #income-tax, #internal-revenue-service, #rebates-and-refunds, #tax-credits-deductions-and-exemptions, #tax-preparers-and-preparation

Is My Stimulus Payment Taxable? And Other Tax Questions

With tax filing season about to begin, here’s what you need to know.

#biden-joseph-r-jr, #content-type-service, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #income-tax, #internal-revenue-service, #personal-finances, #stimulus-economic, #tax-preparers-and-preparation, #unemployment-insurance

You Made Money on GameStop. Here’s What You Need to Know About Taxes.

Some investors may have notched tens of thousands of dollars in profits. Depending on when they sell the stock, they may owe hefty capital gains taxes.

#capital-gains-tax, #federal-taxes-us, #gamestop-corporation, #income-tax, #personal-finances, #robinhood-financial-llc, #stocks-and-bonds, #tax-preparers-and-preparation

I.R.S. Pushes Back Start of 2020 Tax Filing Season

The agency will start accepting returns on Feb. 12, about two weeks later than usual. But you still have to file by April 15.

#content-type-service, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #federal-taxes-us, #income-tax, #internal-revenue-service, #rebates-and-refunds, #rettig-charles-p, #tax-preparers-and-preparation

Stimulus Payment Delayed? You May Need to Claim It on Your Tax Return

Payments must be sent by the government by Jan. 15, the I.R.S. said. If yours isn’t sent by then, you’ll have to claim it as a rebate on your 2020 taxes.

#federal-taxes-us, #income-tax, #internal-revenue-service, #stimulus-economic, #tax-preparers-and-preparation

In Prison for Tax Fraud, He Committed More Tax Fraud, U.S. Says

Abdel Soliman was serving a 41-month federal sentence when he used a smuggled cellphone to prepare tax returns for clients, diverting more than $470,000 in refunds, the authorities said.

#cellular-telephones, #frauds-and-swindling, #pennsylvania, #prisons-and-prisoners, #soliman-abdel, #tax-preparers-and-preparation

Filing Your Taxes Deadline: Questions and Answers for July 15th

“It’s just like April 15, but in July.” Here’s what you need to know. And if you’re owed a refund, be prepared to wait: The I.R.S. has a huge backlog.

#aarp, #american-institute-of-certified-public-accountants, #coronavirus-2019-ncov, #coronavirus-aid-relief-and-economic-security-act-2020, #income-tax, #internal-revenue-service, #personal-finances, #rebates-and-refunds, #shutdowns-institutional, #tax-foundation, #tax-preparers-and-preparation

Your 8 Most Vexing Tax Questions, Answered

Changing rules have led to taxpayer confusion. We asked accountants and other specialists to help sort it all out.

#accounting-and-accountants, #federal-taxes-us, #income, #income-tax, #mortgages, #pensions-and-retirement-plans, #personal-finances, #real-estate-and-housing-residential, #rebates-and-refunds, #tax-credits-deductions-and-exemptions, #tax-cuts-and-jobs-act-2017, #tax-evasion, #tax-preparers-and-preparation