Taxpayer Advocate not taking coronavirus payment cases
Millions of folks — around 152 million of us, by the Internal Revenue Service's latest count — have received COVID-19 economic impact payments, or EIPs as they are called in the acronym crazy federal government (and tax) world. The payments of up to $1,200 per individual and $500 for each eligible child…
IRS to start accepting some e-filed amended returns
As long as I've been blogging about taxes, I've included in every post about correcting previous tax filings some version of this instruction — An amended return cannot be filed electronically. You must use snail mail, using the appropriate address shown in the 1040X instructions. But in the summer of 2020, that…
HSA contributions offer tax savings, but add to filing time
I've been rearranging some upcoming doctors' appoints that I made months ago, well before anyone had heard of COVID-19, much less watched as it overtook our lives. A couple were able to be conducted as teleconferences with my physicians. Some, however, require actual in-office visits. Like getting jabbed for blood work.…
Remembering military families, too, on Memorial Day 2020
Memorial Day 2020 has an added poignancy. This solemn day to commemorate those who gave their lives in military service to the United States is overshadowed by the coronavirus. Almost 100,000 COVID-19 deaths have been recorded, with reporters often referring to military casualty numbers to put the pandemic's human cost in perspective. The Memorial…
July 15 is still Tax Day (for now), but Form 4868 Oct. 15 extension still available
We're less than two months from Tax Day 2020, which was pushed to July 15 due to the coronavirus pandemic. Or are we? There's been some talk and a few actual reports in the media that the White House is contemplating pushing the tax deadline back again, possibly to Sept. 15 or…
COVID-19 economic relief debit cards are in the mail
Americans are plastic addicts. I'm not just talking packaging. We depend on plastic payments, aka credit and debit cards. That financial transaction method has made its way into the COVID-19 economic impact payment (EIP) distribution. This week, the Internal Revenue Service began sending debit cards loaded with coronavirus payment amounts…
Some taxpayers due a refund and COVID relief money haven’t gotten either
All tax eyes nowadays are on coronavirus relief measures, both the Coronavirus Aid, Relief and Economic Security (CARES) Act that became law in late March and The Health and Economic Recovery Omnibus Emergency Solutions (HEROES) Act that passed that passed House on Friday (May 15), but isn't expected move, at least not quickly, through…
Expanded tax help in covering child care costs during coronavirus closure rules
Earlier this year as the coronavirus was surreptitiously infecting Americans, lots of parents were going about their usual business, which included making summer plans for their children. They knew that they needed to get applications to day camps well before school was out so their youngsters would be entertained and…
Homeowner’s insurance is sort of tax deductible in some home office instances
Property protection costs: If you have a mortgage, your bank will require you to insure your home in case something terrible happens. Since your financial institution actually owns your home even though you're making monthly payments, it wants some guarantee that the structure isn't rendered worthless in case it's severely damaged…
May 13 at noon is deadline to give IRS info for direct deposit of COVID-19 money
More than 130 million COVID-19 economic impact payments have been delivered, according to the Internal Revenue Service. That means the tax agency is nearing the end of its distribution of the money that is intended to help folks cover a few of the costs they've incurred due to the impact…
