Death and Stimulus

https://cdn5.vectorstock.com/i/thumb-large/71/29/death-with-hourglass-scythe-and-colorful-balloons-vector-21637129.jpg

Today TaxMama® wants to tell you about even more news from the IRS. It just keeps on a-comin’!               Dear Family, The IRS is still in the process of sending out stimulus checks to people, electronically and on paper. Many people were surprised and delighted to receive $1,200 checks […]

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 […]

IRS tax filing and paying extensions due to the coronavirus

Eva Rosenberg joins Jim Blasingame to report on the tax filing extensions that are part of the CARES Act, plus the extensions on paying taxes for 90 days, as well as the ability to catch up for non-filing up to three years back. [s3audio url=”http://zaicast.smallbusinessadvocate.com:8000/media/jbsba/2020/04/20200414-H.mp3″ /]

Will the PPP funds be taxable, and new net-operating-losses rules?

Eva Rosenberg joins Jim Blasingame to report that when the PPP loan is forgiven, it will not become a taxable item for small businesses, plus new net-operating-loss rules that could allow you to look back five years with amended returns. [s3video url=”http://zaicast.smallbusinessadvocate.com:8000/media/jbsba/2020/04/20200414-J.mp3″ /]

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!

source - https://wpclipart.com/household/doors/dutch_door.png.html

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, […]