Category Archives: *Tax Quips

IRS Updates and News – Some Campuses are Back at Work

Today TaxMama® wants to talk to you about some more news from the IRS. As you know, they are issuing announcements frequently.         Dear Family, The IRS announces that they have updated the stimulus look-up tools. Several people have told me that they can finally find their information. I was also able […]

The Stimulus Checks are on their Way! Updated Links

Dear Friends People are starting see the checks in their bank accounts. The IRS has opened BOTH portals – they are both found on this page: https://www.irs.gov/coronavirus/economic-impact-payments For people who didn’t need to file but want to file a zero ($1) tax return to get their bank account info into the system For people who […]

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 […]

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 […]