IRS unveils new People First Initiative

IRS People First Initiative provides relief to taxpayers. IRS unveils new People First Initiative; COVID-19 effort temporarily adjusts, suspends key compliance program.  Due to COVID-19, the IRS is providing relief on a variety of issues as part of the People First Initiative. The IRS is modifying certain activities through the filing and payment deadline, Wednesday, July 15, 2020. Here’s what people need to know about relief related to IRS exams or audits Field, office and correspondence

Social Security and Railroad Retirement recipients

Most Social Security and Railroad Retirement recipients do not need to file a return or provide information to get an Economic Impact Payment Many people are receiving Economic Impacts Payments to help with the effects of the Coronavirus (COVID-19) pandemic. Among those are who receive Social Security retirement, disability (SSDI), or survivor benefits and Railroad Retirement benefits. This includes those who don’t normally file a tax return and not claimed as a dependent on someone

Status of your Economic Impact Payment 

The new Get My Payment is to let taxpayers check on the status of their Economic Impact Payment date and update direct deposit information.  Get My Payment let taxpayers check on the status of their Economic Impact Payment. You can check the status of your Economic Impact Payment. This is similar to the “Where’s My Refund tool”.  If you did not have direct deposit on your last filed tax return, you can to input information

Stimulus payments are underway

  Stimulus Payments are Underway: Here’s How to Get Yours Faster Taxpayers are beginning to receive their $1,200 one-time stimulus payments plus $500 for each dependent under the age of 17. Lost in this noise is a recent IRS announcement that can help you get your payment a bit faster. First round of payments are underway Payments have begun hitting the checking accounts of taxpayers who included their bank’s routing and account numbers on their

The Economic Impact Payment

Here’s how much individuals will get from the Economic Impact Payments. Are you employed full or part time? Unemployed? A temporary or gig worker? Retired or disabled? Receive public benefits? Have no income? Most U.S. residents under certain income levels, will receive the Economic Impact Payment if they are not claimed as a dependent and have a Social Security number. Here’s how much the payments will be: Eligible individuals will receive up to $1,200. Married

Stimulus Payments: The Senior Problem

Stimulus Payments: The Senior Problem . Help seniors get paid. Read this NOW! There is confusion regarding whether seniors who receive Social Security have to file a simple tax return to get their $1,200 stimulus check. The answer from the U.S. Treasury Department is NO. So if you received a 1099-SSA or RRTA in 2019 or 2018, the payment will be automatic….eventually. The problem The IRS challenge is to send out one-time coronavirus stimulus payments

The Earned Income Tax Credit (EITC)

The Earned Income Tax Credit (EITC) has provided a tax break to millions of Americans each year since 1975.   The credit was originally established to give low and medium income taxpayers a break on their Social Security taxes while providing an incentive to work. The EITC is often the subject of missed opportunity as the IRS estimates as many as 20% of taxpayers that qualify for the credit do not include it on their

Check the status of your Amended Tax Return

If you filed an amended tax return, here is what you need to know to check the status of your amended tax return. First of all the Where’s My Amended Return? gives you the status of your amended tax return. therefore, you can start checking on its status three weeks after you’ve mailed it. As a result, it can take up to three weeks before your amended return shows up in our system. You can

Telltale Signs of a IRS Scam

THE IRS (AND ITS AUTHORIZED PRIVATE COLLECTION AGENCIES) WILL NEVER: CALL TO DEMAND IMMEDIATE PAYMENT USING A SPECIFIC PAYMENT METHOD SUCH AS A PREPAID DEBIT CARD, GIFT CARD OR WIRE TRANSFER. THE IRS DOES NOT USE THESE METHODS FOR TAX PAYMENTS. GENERALLY, THE IRS WILL FIRST MAIL A BILL TO ANY TAXPAYER WHO OWES TAXES. ALL TAX PAYMENTS SHOULD ONLY BE MADE PAYABLE TO THE U.S. TREASURY AND CHECKS SHOULD NEVER BE MADE PAYABLE TO

IRS ALERT: Two New Tax Scams

The IRS remains on the lookout for tax scams that can blindside unsuspecting taxpayers. Now two variations of past scams are currently making the rounds. Here’s what you need to know: The new scams The SSN hustle. This scam resembles another where callers impersonate IRS agents. In this version, the scammer claims to be able to suspend or cancel your Social Security number (SSN) because of some overdue taxes. Even if you don’t answer the call,