IRS ‘People First’ COVID-19 effort eases collections, audits
You've been sheltering in place. You've applied for unemployment benefits. You're alternately checking your bank account and the Internal Revenue Service's Get My Payment online search tool (good luck!) for your COVID-19 economic relief payment. And then there are your taxes. Added COVID-19 tax considerations: Like just about everything during this global pandemic, taxes…
EITC filers have more time to answer claim questions
When your job doesn't pay much, the Earned Income Tax Credit (EITC) can be a big help. This tax break for lower- and middle-income workers has been a part of the tax code since 1975's Tax Reduction Act. It was a logical extension of the 1960s-era War on Poverty, creating a…
No bank account? Prepare to wait for COVID-19 cash
More than 80 million stimulus checks went out last week, mostly to people who filed federal 2018 or 2019 returns and had the Internal Revenue Service directly deposit those tax years' refunds. Millions more have been anxiously checking the IRS' Get My Payment online tracking tool (guilty!) and/or their bank accounts (guilty…
Didn’t file taxes, but have kids? Tell the IRS so you can get your full COVID payment ASAP
Parents know that kids are costly. That fiscal fact is especially notable when mom and dad have been laid off during the coronavirus crisis. That's why the Internal Revenue Service is making what it's dubbed the Plus $500 Push. It's an effort to ensure that everyone who's eligible for a…
Don’t forget ‘normal’ tax matters during COVID-19 tax season
This weekend many businesses and their tax advisers are still trying to sort out the complexities of Small Business Administration Paycheck Protection Program. It's part of the $2 trillion federal coronavirus relief package, officially known as the CARES Act, that became law on March 27. The Paycheck Protection Program, or…
Speeding up delivery of your COVID-19 payment
The Treasury Department is about to kick off the distribution process that will get some much-needed cash to millions of Americans who are struggling because of COVID-19's effects. The good news is that in most cases, folks eligible for the economic relief payments created by the Coronavirus Aid, Relief and…
