Short Work Tax and Financial Services, LLC

09/20/2021

IRS announces tax relief for Pennsylvania victims of Hurricane Ida

Individuals who had a valid extension to file their 2020 returns, due to run out on October 15, will now have until January 3, 2022 to file.

Businesses with extensions also have the additional time - calendar-year partnerships and S corporations whose 2020 extensions run out on September 15, 2021, and calendar-year corporations whose 2020 extensions run out on October 15, 2021.

PA-2021-05, September 14, 2021 — Victims of remnants of Hurricane Ida that began Aug. 31, 2021 now have until Jan. 3, 2022, to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today.

03/22/2021

Different perspective; can't argue much though.

03/18/2021

Deadline extended!

IR-2021-59, March 17, 2021 — The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021.

02/22/2021

Claiming the wrong amount of the Recovery Rebate Credit will cause your return to require additional IRS review which will delay your refund processing!

You can confirm your stimulus payments by doing one of the following:

1) Referencing IRS-mailed Payment Confirmation Notices 1444 and 1444-B
2) Checking your bank account activity
3) Verifying issued payments through the Get My Payment tool at www.irs.gov
4) Requesting an account transcript.

Note - there is no #5. Therefore, it is not okay to say "I got the regular amount"

02/22/2021

Recovery Rebate Credit:

The IRS announced last week that, as required by law, all legally permitted first and second round of Economic Impact Payments have been issued. Get My Payment was updated on January 29 to reflect the final payments and will not be updated again.

If you didn’t receive all or part of their payment, you may be eligible to claim the Recovery Rebate Credit with your 2020 tax return.

02/12/2021

I've been pushing this e-file button all morning. Who wants their tax return processed now that the IRS is accepting them? Who wants the button pushed for their return?

10/09/2020

Happy Friday! Hope your day is better...

03/17/2020

https://fortune.com/2020/03/17/irs-coronavirus-new-tax-payment-deadline/

Delay takes pressure off of people scrambling to pay their returns by April 15.

03/16/2020

https://www.cnbc.com/2020/03/16/tax-deadlines-are-likely-to-change-heres-what-you-need-to-know.html

The Trump administration is calling for tax deadline relief, but CPAs and taxpayers are still uncertain as to when documents must be filed and payments need to be made. Here are the next steps you should take.

01/23/2020

Getting ready to "Push the Button" on Monday! Who is ready?

IR-2020-02, January 6, 2020 — The Internal Revenue Service confirmed that the nation’s tax season will start for individual tax return filers on Monday, January 27, 2020, when the tax agency will begin accepting and processing 2019 tax year returns.

01/08/2020

Did you receive one?
Were you involved in Cryptocurrency Speculation/Investing? What will you do?

The Internal Revenue Service announced today that it has begun mailing what it calls “educational letters” to taxpayers with cryptocurrency transactions

01/08/2019

https://www.irs.gov/newsroom/irs-confirms-tax-filing-season-to-begin-january-28?fbclid=IwAR1Cx0rOZlrGL3guXcyAvNOtfE9qfhdH2mDSUz-Hhm2kAbN-bFRhQArTrDo

IR-2019-01, January 7, 2019 ― Despite the government shutdown, the Internal Revenue Service today confirmed that it will process tax returns beginning January 28, 2019 and provide refunds to taxpayers as scheduled.