Taxes for Dummies
This is a great video explaining the US Government’s progressive tax system for those who don’t understand it! Is it fair that 16% of American taxpayers payed nearly 80% of all federal tax in 2014? Just to have politicians say that the wealthy haven’t payed their “fair share” yet.
IRS Shutters Some Operations, Self-Employed Get Unemployment and Track your Stimulus Check
IRS Shutters Some Operations, Self-Employed Get Unemployment and Track your Stimulus Check “The IRS is unable to process paper tax returns, respond to paper correspondence or staff toll-free live service lines. Please use all electronic options available to you on IRS.gov or through your tax software provider.” IRS shutters some operations, self-employed get unemployment and…
Paycheck Protection Program and Other Deadline Updates 4.13.20
Non-Filers: Enter Payment Info Here
https://www.…
Latest IRS Tax Extension Clarifications as of Thursday, April 9, 2020 8:03 PM
1) Estimated Tax Payments for 2nd Quarter: https://www.irs.gov/newsroom/irs-extends-more-tax-deadlines-to-cover-individuals-trusts-estates-corporations-and-others “Besides the April 15 estimated tax payment previously extended, today’s notice also extends relief to estimated tax payments due June 15, 2020. This means that any individual or corporation that has a quarterly estimated tax payment due on or after April 1, 2020, and before July 15,…
How IRS Can Help Business Owners Hurt by COVID Disaster
How IRS Can Help Business Owners Hurt by COVID Disaster Quick Summary: Disaster Area Declaration – Internal Revenue Code Sec. 165(i) Disaster losses in the current year can be taken on a prior year’s return (i.e., 2020 losses stemming from COVID-2019 can be taken on the 2019 return) The loss/deduction would need to be substantiated by…