Today TaxMama® wants to talk to you about some more news from the IRS. As you know, they are issuing announcements frequently.
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 to do so – but only after I filed my 2019 return. Some tips I learned this weekend.
- Don’t enter your address EXACTLY as it appears on your tax return. We use a P.O. Box – should have entered it without the periods, as PO Box. That worked.
- All you responsible taxpayers who applied your 2018 refund to 2019, so you don’t have a bank account listed – enter ZERO as your refund.
The IRS is sending some people back to work on the Campuses in states that have opened up – a bit. With extensive COVID19 safety protocols in place. This was only announced to the media, not to the public. We don’t have SPECIFIC information about what will start functioning again, but here’s what the Commissioner said he’d like to accomplish. Mostly the focus is to get more refunds into the hands of taxpayers.
- The IRS resumes a number of key responsibilities, including opening mail that has been held for a number of weeks, processing of paper tax returns that may offer refunds to taxpayers, working on returns with refundable credits, answering taxpayers’ questions on our toll-free lines, and performing Income Verification Express Service and certain lien/levy functions.
The new funds issued by Congress? It seems that the SBA was flooded with applications within 10 minutes of making them available. Whew – that money will be gone quickly.
TaxMama’s updated recommendation for paper communications?
Wait two weeks or so for the returning IRS staff to get their feet on the ground and work their way through the backlog before sending in new paper tax returns or correspondence.
And it’s quite possible that that IRS may open up some fax lines for more functions – so stand by for updates.
The Enrolled Agents Examination – PLEASE JOIN US
Prometric sites will not be opening in the month of May. We hope they will open by June 1st. In the meantime, here’s everything else you need to know about the EA Exam. https://iTaxMama.com/EverythingAbout_EA__Exam
Regardless, WE are starting our class on Saturday morning, May 2nd – so sign up right away. You’ll be ready to pass when the testing opens!
This is a great time to improve (or develop) your skills as a tax professional.
Incidentally, if you are presently unemployed, check with your unemployment office or business insurance coverage – they just might be able to pay your tuition.
Reminder – Some Helpful IRS Links
Which IRS services are open and available – keep an eye on this link
Dealing with audit or collections issues – IRS is keeping this page up to date
Of course, all the filing and paying deadlines
And a great chart: How to Use the Tools on IRS.gov to Get Your Economic Impact Payment https://www.irs.gov/newsroom/how-to-use-the-tools-on-irsgov-to-get-your-economic-impact-payment
And remember, you can find answers to all kinds of questions about taxes and business issues, and Enrolled Agent tax education, free. Where? Where else? At www.TaxMama.com.
Incidentally, I don’t know if you know – TaxMama.com® is a free resource for people to get answers to tax questions BEFORE they make major, costly moves.
To make comments please drop into the TaxQuips Forum.