It’s never too early to think about next year’s taxes.
Americans should keep their eyes open for the 2020 tax changes. In order to file your 2020 tax return, it’s important to prepare for what’s next. The IRS has released a draft of the 2020 tax instructions.
Here’s a quick list of the 2020 tax changes to be in tune with the 2021 tax season.
With the upcoming tax season, here are the tax changes for the 2021 tax season.
Scammers are targetting countless innocent taxpayers claiming to be the IRS.
First, these scammers attempt to impersonate IRS agents or organizations affiliated with the IRS, debt collectors, other government employees, and even the police. Once they get a hold of your personal information, they move onto another victim.
Here’s how to spot a fraudulent phone call and how to report it to the real IRS.
The tax extension deadline for the 2019 tax season is approaching.
Be advised, Tuesday, October 15, 2019, isn’t just the extension deadline. It’s also the last day to e-file your tax return.
However, if you didn’t file an extension on the April 15 deadline, you may be subject to penalties depending on if you owe taxes to the IRS or not.
Can I still file an extension?
Unfortunately, you can no longer file an extension. The last day to have filed an extension was April 15, 2019; the original tax deadline. By filing Form 4868 (Application for Automatic Extension of Time To File U.S. Income Tax Return), the IRS grants you an extra six-months to file.
That being said, for tax returns who have an outstanding tax due to the IRS, that haven’t been paid, will be subject to penalties.