Category Archives: *Tax Quips

STUNNING, SHOCKING IRS NEWS!

IRS operations to process third-party authorizations are now closed. Please do not fax requests for Centralized Authorization File (CAF) numbers until further notice. The Income Verification Express Service also is temporarily on hold. Possible alternative for tax administration purposes: clients can go to Get Transcript Online, create an account to verify their identities and immediately review […]

Everything You Want to Know About the EA Exam 2020-2021

The REPLAY of the April  2020-2021 webinar is HERE! This is a great time to improve your tax and representation skills and become an enrolled agent! Becoming a knowledgeable tax professional isn’t easy. It takes a lot of dedication, math skills, and the flexibility to keep up with the myriad of tax law changes that take […]

The IRS Portal is Open!

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We have all been waiting for this! Here is the new tool for you to enter your bank account information, so you can get the stimulus checks! https://www.irs.gov/coronavirus/non-filers-enter-payment-info-here How do I use the Non-Filers: Enter Payment Info tool? For those who don’t normally file a tax return, the process is simple and only takes a […]

Additional Time From the IRS!

Estimated Tax Payments Besides the April 15 estimated tax payment previously extended, today’s notice also extends relief to estimated tax payments due June 15, 2020. This means that any individual or corporation that has a quarterly estimated tax payment due on or after April 1, 2020, and before July 15, 2020, can wait until July […]

California Small Businesses Now Have Until July 31, 2020 to File and Pay First Quarter Returns

For #Californians Governer Newsome is letting you keep the sales taxes you collect. For now * https://www.cdtfa.ca.gov/news/20-06.htm Sacramento – In accordance with the Executive Order issued by Governor Newsom last night to expand tax relief for small business taxpayers, the California Department of Tax and Fee Administration (CDTFA) announced today that all small businesses will have an additional […]

From the IRS – Economic impact payments: What you need to know

The IRS has started a new page where they are posting information about the stimulus rebates. I will keep you updated. And I am working on an on-demand webinar to summarize all this for Lambers. Meanwhile: Check IRS.gov for the latest information: No action needed by most people at this time https://www.irs.gov/newsroom/economic-impact-payments-what-you-need-to-know IR-2020-61, March 30, […]

COVID-19 Tax News – Digital Signature Info Added

Please stay tuned here for updates from the IRS and other key news that affects your lives, currently. We will be adding information to this page.   ALERT: #IRS will not call to request any personal or financial information for you to get an economic impact payment. If you get such a call — HANG […]

Congress Passes Stimulus Bill – President will Sign

Hi Folks We have a law! Tune in to the discussion with reporter/podcaster Ken Jeffries in his UP TO THE MINUTE NEWS PODCAST-COVID-19. Here is a summary from the Tax Foundation – and if you click on links, there are more details https://taxfoundation.org/cares-act-senate-coronavirus-bill-economic-relief-plan/ I will be digging into this more deeply and put together a […]

The IRS on Overload – Relax and go Online

Friends, this is an amazingly bad time for the IRS – and the tax prep software industry – and us – tax professionals.   1) Everyone was totally organized and ready for tax season by December. Until WHAM! Congress passes a set of new laws that has everyone scrambling to re-write software, while the IRS […]

IRS Suspends Everything – For Now

   Received from the IRS 3:42 pm Pacific Dear Tax Professionals, Due to staff limitations, the PPS line, the e-Services Help Desk line and the e-Services, FIRE and AIR system help desks are closed until further notice. Please make IRS.gov your first option for answers to questions. The IRS is temporarily suspending acceptance of new […]

IRS suspends key compliance programs – including various payments due

Incidentally, if you want to know about the IRS’ operations during this time, the IRS set up a new overview page https://www.irs.gov/newsroom/irs-operations-during-covid-19-mission-critical-functions-continue   You can read the entire message here But here are the highlights for YOU.   New Installment Agreements – The IRS reminds people unable to fully pay their federal taxes that they can […]

TaxMama’s® Anniversaries

Today TaxMama® wants to toot her own horn for a change. Dear Family, We are celebrating 2020 as TaxMama’s® 21st  anniversary and will be providing goodies to our members along the way, throughout the year. Twenty-one years ago, I set up the TaxMama.com website to solve a problem I saw over and over again. People […]