IRS extends 2020 tax filing deadline

The Treasury Department and the Internal Revenue Service (IRS) announced that the 2020 tax filing deadline for individuals will be automatically extended from April 15, 2021 to May 17, 2021. This is stated in a message on the IRS website. “It's still ...

Tax season is approaching: what you need to know

The U.S. Internal Revenue Service (IRS) will begin accepting returns for 2020 on February 12. We will tell you what you need to do to submit your tax return on time and without errors. Check if you received income documents In January or February you should receive forms, ...

A Simple Explanation of Tax Terms You Need to Know in 2021

The proverb says: in life, only death and taxes are inevitable. This statement is dated 1716, and the word "tax" itself has a long history and means "the amount of money required by the government." The word comes from the Latin taxare: "censure, accrual" and dates back to about the XNUMXth century. FROM…

How unemployment, financial assistance and remote work will affect taxes for 2020

Like everything else related to 2020, the filing of tax documents for this period will also not be the same as always, writes ABC News. It's time to think about taxes and what can be done now to control the situation. ...

IRS will pay interest on tax refunds for 2019

Americans who filed their 2019 federal tax return on time should expect an interest payment on tax refunds this week (by August 23), USA Today writes. Such payments will be made separately from the refunds themselves. According to the IRS, the IRS ...

Tax 2020: if you are late filing your tax return, you can pay more

Late taxpayers must file their tax returns as soon as possible, otherwise the amount of fines and interest due will rise, warns the US Internal Revenue Service (IRS). Fines and interest apply to taxes due after July 15, Fox Business recalls. This year…

Tax Season 2020: Everything You Need to Know About Deferral

In response to the coronavirus pandemic, the Internal Revenue Service (IRS) has extended the deadline for filing tax returns and paying any taxes - from April 15, the date was pushed back to July 15, GOBankingRates writes. If you are planning to take advantage of the deferral, here's all that ...

Tax Season 2020: Coronavirus Deferred Filing Frequently Asked Questions

In early 2020, many thought that the chaos and confusion of last year's tax season was long over. According to experts, in the new year it should have been easier to deal with taxes, since people have studied the new tax rules better, reminds USA Today. But then…

Pandemic benefit for Americans: is it worth the rush to file a 2019 declaration

The US government plans to pay material assistance to Americans affected by the coronavirus quarantine, and this amount will depend on the recipient's annual income, writes Fox Business. The payout is expected to be $ 1 per adult for individuals with income under $ 200. ...

Tax Season 2020: IRS extends filing deadlines for most Americans

On March 17, the head of the US Treasury Department, Stephen Mnuchin, said at a press conference that most Americans can receive a three-month grace period for paying their 2019 income taxes, writes USA Today. The IRS will extend the deadline for paying taxes after April 15 for another 90 days ...

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