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๐ˆ๐‘๐’ ๐’๐„๐„๐Š๐ˆ๐๐† ๐‡๐„๐‹๐ ๐ฐ๐ข๐ญ๐ก ๐‚๐‘๐˜๐๐“๐Ž๐‚๐”๐‘๐‘๐„๐๐‚๐˜ ๐€๐”๐ƒ๐ˆ๐“๐’ (๐Ÿ”/๐Ÿ/๐Ÿ๐ŸŽ๐Ÿ๐ŸŽ)

CryptoTrader.Tax, a cryptocurrency tax software company that helps taxpayers report their taxes, revealed that they received an email on May 12 from the IRS soliciting their assistance in audits. The IRS solicitation, called a Statement of Work, details what the IRS would require. In short, it needs audit support dealing with virtual currency calculations in […]

๐„๐‚๐Ž๐๐Ž๐Œ๐ˆ๐‚ ๐ˆ๐Œ๐๐€๐‚๐“ ๐๐€๐˜๐Œ๐„๐๐“๐’ ๐’๐„๐๐“ ๐ญ๐จ ๐˜๐Ž๐”๐‘ ๐๐‘๐„๐๐€๐ˆ๐ƒ ๐ƒ๐„๐๐ˆ๐“ ๐‚๐€๐‘๐ƒ (๐Ÿ“/๐Ÿ๐Ÿ–/๐Ÿ๐ŸŽ๐Ÿ๐ŸŽ)

Unless your Economic Impact Payment has already been scheduled or paid, itโ€™s possible to have it sent to your prepaid debit card. Many reloadable prepaid cards have account and routing numbers that you could provide to the IRS through the Get My Payment application or on-Filers: Enter Payment Info Here tool. But check with the […]

๐ˆ๐‘๐’ ๐๐‡๐Ž๐๐„ ๐‡๐„๐‹๐ ๐จ๐ง ๐„๐‚๐Ž๐๐Ž๐Œ๐ˆ๐‚ ๐ˆ๐Œ๐๐€๐‚๐“ ๐๐€๐˜๐Œ๐„๐๐“ ๐๐”๐„๐’๐“๐ˆ๐Ž๐๐’ (๐Ÿ“/๐Ÿ๐Ÿ/๐Ÿ๐ŸŽ๐Ÿ๐ŸŽ)

The IRS is starting to add 3,500 telephone representatives to answer some of the most common questions about Economic Impact Payments. IRS telephone assistance and other services will remain limited, and answers for most of the common questions related to Economic Impact Payments are available on IRS.gov. The IRS anticipates bringing back additional assistors as […]

๐ˆ๐‘๐’ ๐€๐”๐ƒ๐ˆ๐“๐’ & ๐ญ๐ก๐ž ๐‚๐Ž๐•๐ˆ๐ƒ-๐Ÿ๐Ÿ— ๐’๐‡๐”๐“๐ƒ๐Ž๐–๐ (๐Ÿ“/๐Ÿ๐Ÿ–/๐Ÿ๐ŸŽ๐Ÿ๐ŸŽ)

As a result of the shutdown, the IRS is limiting its audit activities and focusing on taxpayer relief with its People First Initiative. Until the filing and payment deadline of Wednesday, July 15, 2020, here is what taxpayers can expect with respect to IRS exams or audits- Field, office and correspondence audits โ€“ Generally, the […]

๐„๐‚๐Ž๐๐Ž๐Œ๐ˆ๐‚ ๐ˆ๐Œ๐๐€๐‚๐“ ๐๐€๐˜๐Œ๐„๐๐“ (๐„๐ˆ๐) ๐ƒ๐ˆ๐…๐…๐„๐‘๐„๐๐“ ๐“๐‡๐€๐ ๐„๐—๐๐„๐‚๐“๐„๐ƒ ? (๐Ÿ“/๐Ÿ๐Ÿ‘/๐Ÿ๐ŸŽ๐Ÿ๐ŸŽ)

The EIP youโ€™re expecting may be different from the one you get for the following reasons – ๐Ÿ. ๐˜๐จ๐ฎ ๐๐ข๐๐งโ€™๐ญ ๐Ÿ๐ข๐ฅ๐ž ๐š ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ— ๐ญ๐š๐ฑ ๐ซ๐ž๐ญ๐ฎ๐ซ๐ง ๐ฒ๐ž๐ญ ๐จ๐ซ ๐ญ๐ก๐ž ๐ˆ๐‘๐’ ๐ก๐š๐ฌ ๐ง๐จ๐ญ ๐Ÿ๐ข๐ง๐ข๐ฌ๐ก๐ž๐ ๐ฉ๐ซ๐จ๐œ๐ž๐ฌ๐ฌ๐ข๐ง๐  ๐ฒ๐จ๐ฎ๐ซ ๐Ÿ๐ŸŽ๐Ÿ๐Ÿ— ๐ซ๐ž๐ญ๐ฎ๐ซ๐ง. Under both of these circumstances, the IRS used the 2018 tax return and missed changes in your circumstances. ๐Ÿ. […]

๐‡๐Ž๐– ๐ญ๐จ ๐‘๐„๐“๐”๐‘๐ ๐š๐ง ๐„๐‚๐Ž๐๐Ž๐Œ๐ˆ๐‚ ๐ˆ๐Œ๐๐€๐‚๐“ ๐๐€๐˜๐Œ๐„๐๐“ (๐Ÿ“/๐Ÿ๐Ÿ/๐Ÿ๐ŸŽ๐Ÿ๐ŸŽ)

The IRS has told us how to return an economic impact payment (EIP). If the payment was a paper check: 1. Write “Void” in the endorsement section on the back of the check. 2. Mail the voided Treasury check immediately to the appropriate IRS location listed at the website (see below). 3. Don’t staple, bend, […]

๐‹๐Ž๐–-๐ˆ๐๐‚๐Ž๐Œ๐„ ๐ˆ๐๐ƒ๐ˆ๐•๐ˆ๐ƒ๐”๐€๐‹๐’ ๐„๐‹๐ˆ๐†๐ˆ๐๐‹๐„ ๐Ÿ๐จ๐ซ ๐„๐‚๐Ž๐๐Ž๐Œ๐ˆ๐‚ ๐ˆ๐Œ๐๐€๐‚๐“ ๐๐€๐˜๐Œ๐„๐๐“๐’ (๐Ÿ“/๐Ÿ•/๐Ÿ๐ŸŽ๐Ÿ๐ŸŽ)

Low-income individuals are eligible for an Economic Impact Payment. Those who do not have a regular filing requirement can use the free, online tool Non-Filers: Enter Payment Info to quickly register to receive their payment. And a Spanish language version of the tool is available. The Non-Filers tool is for married couples with incomes below […]

๐๐Ž ๐ƒ๐„๐ƒ๐”๐‚๐“๐ˆ๐Ž๐ ๐Ÿ๐จ๐ซ ๐„๐—๐๐„๐๐’๐„๐’ ๐’๐”๐๐๐Ž๐‘๐“๐ˆ๐๐† ๐…๐Ž๐‘๐†๐ˆ๐•๐„๐๐„๐’๐’ ๐จ๐Ÿ ๐๐๐/๐‚๐€๐‘๐„๐’ ๐€๐‚๐“ ๐‹๐Ž๐€๐๐’ (๐Ÿ“/๐Ÿ“/๐Ÿ๐ŸŽ๐Ÿ๐ŸŽ)

Under the Cares Act, a recipient of a Payroll Protection Program (PPP) loan can receive forgiveness of indebtedness on the loan in an amount equal to the sum of payments made for the following expenses during the 8-week โ€œcovered periodโ€ beginning on the loanโ€™s origination date: (1) payroll costs, (2) any payment of interest on […]

๐•๐€ & ๐’๐’๐ˆ ๐‘๐„๐‚๐ˆ๐๐ˆ๐„๐๐“๐’ ๐“๐‡๐€๐“ ๐ƒ๐Ž๐โ€™๐“ ๐…๐ˆ๐‹๐„ ๐‘๐„๐“๐”๐‘๐๐’-๐€๐‚๐“ ๐›๐ฒ ๐Œ๐€๐˜ ๐Ÿ“ (๐Ÿ’/๐Ÿ‘๐ŸŽ/๐Ÿ๐ŸŽ๐Ÿ๐ŸŽ)

SSI and VA recipients who have children and who werenโ€™t required file a tax return in 2018 or 2019 should visit the โ€œNon-Filers: Enter Payment Info Hereโ€ tool on IRS.gov. And by entering the needed information by May 5th on this site, get the economic impact payments theyโ€™re entitled to. By entering information on the […]

โ€œ๐†๐„๐“ ๐Œ๐˜ ๐๐€๐˜๐Œ๐„๐๐“โ€ ๐Ž๐๐‹๐ˆ๐๐„ ๐€๐๐๐‹๐ˆ๐‚๐€๐“๐ˆ๐Ž๐ (๐Ÿ’/๐Ÿ๐Ÿ•/๐Ÿ๐ŸŽ๐Ÿ๐ŸŽ)

With the โ€œGet My Paymentโ€ application, recipients of economic impact payments can track their payments and provide bank account information to ensure direct deposit. ๐…๐จ๐ซ ๐ญ๐š๐ฑ๐ฉ๐š๐ฒ๐ž๐ซ๐ฌ ๐ญ๐จ ๐ญ๐ซ๐š๐œ๐ค ๐ญ๐ก๐ž ๐ฌ๐ญ๐š๐ญ๐ฎ๐ฌ ๐จ๐Ÿ ๐ญ๐ก๐ž๐ข๐ซ ๐ฉ๐š๐ฒ๐ฆ๐ž๐ง๐ญ, the application will show taxpayers the scheduled delivery date by direct deposit or mail and the last four digits of the bank […]