1 million+ Californians top list of missed COVID payments
If you're hoping for a second COVID-19 stimulus check, it's looking like you're going to have to wait until after the November election for Congress to act. However, there is better financial pandemic payment news for millions of folks who didn't get the first coronavirus economic impact payment (EIP). Non-filers left out…
State revenue loss due to COVID-19 not as bad as feared
Most states wrapped up their 2020 fiscal year (FY) on June 30. As you might expect, those annual financial numbers were affected by the COVID-19 pandemic. What is surprising, however, is that states' revenue situations weren't as bad as many had feared given the tax issues created by the coronavirus. Fourth-quarter drag: Jared…
Oregon fire victims’ tax deadlines pushed to Jan. 15, 2021
Tax season 2020 has been extended for some taxpayers. Unfortunately, the extra time to take care of tax tasks is because these individuals and businesses were threatened are dealing with the outbreak of wildfires in Oregon. The Internal Revenue Service announced that victims of the Oregon wildfires and straight-line winds that began…
Dec. 31 is new tax deadline for Louisiana taxpayers hit by Hurricane Laura
Louisiana residents hard hit by major Hurricane Laura's landfall in that state last month now are getting some tax relief. The Internal Revenue Service has announced that residents in 16 parishes now have until Dec. 31, 2020, to file various individual and business tax returns and make tax payments. The…
529 plans, other tax breaks help cover education expenses, even during a pandemic
School is back in session. Sort of. In most places, both at the K-12 and college levels, students and their families are dealing with hybrid education modes. Some classes are meeting in person, albeit dramatically altered to meet COVID-19 safe distancing policies. The rest of the time, the students are learning online.…
The Tax Code And Economic Justice In America
Francine J. Lipman, a law professor at the University of Nevada, Las Vegas, talks with Darrick Hamilton, a stratification economist and the New School’s incoming Henry Cohen Professor of Economics and Urban Policy, about the intersection of U.S. tax policy and racial wealth inequality. This post has been edited for…
Turning in U.S. tax cheats and getting paid for it
Tax revenue is critical. It's even more important during a global pandemic when governments worldwide are facing shortfalls due to COVID-19 economic effects. So it's no surprise that tax officials are taking closer looks at possible tax scofflaws. And in many instances, they're getting help from their citizenry. Recent cases in point…
COVID-created tax refund interest payments going to nearly 14 million filers
Almost 14 million U.S. taxpayers are getting a few extra dollars from Uncle Sam. If you're one of them, you can thank the Internal Revenue Service and the COVID-19 changes to the 2020 filing season. Pandemic tax season timing tweaks mean that these regular refund recipients also will be getting…
IRS stops sending nonpayment tax notices until it clears COVID snail mail backlog
The Internal Revenue Service heard the complaints about incorrect unpaid tax notices and has acted. It announced yesterday, Aug. 21, afternoon that it is temporarily halting the mailing of three nonpayment notices. The decision came on the heels of public outcry, some of it among taxpayers and the professional tax…
Get government benefits? Have kids? You get one more chance to claim added COVID cash
Attention parents who rely on government program payments to help care for your families. If you missed out on the extra $500 per dependent child coronavirus economic impact payment (EIP), the Internal Revenue Service is giving you one last chance to get this supplemental money this year. The tax agency…
