Entries by Jeff

9 Million Non-filers To Receive Letter From The IRS Urging Them To Claim The Economic Impact Payment

What To Do If You Have Not Received Your Economic Impact Payment. On March 27, 2020 President Trump signed the $2 trillion Stimulus Bill formally known as the Coronavirus Aid, Relief and Economic Security [CARES] Act (the “CARES Act”) to provide assistance to workplaces and employees. The CARES Act provides many benefits intended to deliver […]

Were You Affected By Hurricane Laura? IRS Is Providing You With Tax Relief And Extending Upcoming Tax Deadlines.

The IRS announced on August 31, 2020 that victims of Hurricane Laura starting August 22, 2020 may qualify for tax relief.  Individuals who reside or have a business in Allen, Beauregard, Calcasieu, Cameron, Jefferson Davis and Vernon parishes in Louisiana, have until December 31, 2020, to file certain individual and business tax returns and make […]

U.S. Successfully Disrupts Three Terror Finance Cyber-Enabled Campaigns

U.S. Successfully Disrupts Three Terror Finance Cyber-Enabled Campaigns Using the same tools in the investigations of U.S. taxpayers, this is the largest ever seizure of terrorist organizations’ cryptocurrency accounts. The Department Of Justice on August 13, 2020 announced the dismantling of three terrorist financing cyber-enabled campaigns, involving the al-Qassam Brigades, Hamas’s military wing, al-Qaeda, and […]

Advantages To Filing A 2019 Tax Return – Getting Money Due To You

On March 25, 2020 the IRS issued a press release  announcing a sweeping series of steps to assist taxpayers by providing relief on a variety of issues ranging from easing payment guidelines to postponing compliance actions in what it calls “The IRS People First Initiative”. These changes included postponing the 2019 tax filing deadline from April 15, […]

After July 15, 2020, Taxpayers Must Resume Making Payments To IRS Or Face Renewed Collection Action

On March 25, 2020 the IRS issued a press release  announcing a sweeping series of steps to assist taxpayers by providing relief on a variety of issues ranging from easing payment guidelines to postponing compliance actions in what it calls “The IRS People First Initiative”. These new changes include issues ranging from postponing certain payments […]

Why Taxpayers Involved In Offshore Accounts, Crypto Currency Or Cannabis Should Be Filing An Extension For Their 2019 Income Tax Returns

If you did not report your offshore accounts, crypto currency income or cannabis income earned before 2019, you should hold off on filing your 2019 taxes and instead file an extension. An extension is your way of asking the IRS for additional time to file your tax return. The IRS will automatically grant you an additional time to file […]

Beware That Soon IRS Will Be Unleashed And Fully Operational

Relief Under “The IRS People First Initiative” Expires July 15, 2020.  IRS Coronavirus Tax Relief  President Donald Trump declared the coronavirus pandemic a national emergency. Therefore, under Sec. 7508A, the declaration of an emergency under the Robert T. Stafford Disaster Relief and Emergency Assistance Act, P.L. 100-707, the IRS is allowed to delay certain tax […]

Paycheck Protection Program Changes Are Here!

On March 27, 2020 President Trump signed the $2 trillion Stimulus Bill formally known as the Coronavirus Aid, Relief and Economic Security [CARES] Act (the “CARES Act”) to provide assistance to workplaces and employees. The CARES Act provides many benefits intended to deliver cash into the hands of individuals and businesses, as well as many […]