Entries by Jeff

Getting Ready For The 2021 Tax Filing Season

On January 15, 2021, the Internal Revenue Service (IRS) announced that it will process 2020 tax returns beginning February 12, 2021. Last year the opening date was January 27, 2020; however, for the 2021 tax filing season this had to be extended to allow the IRS time to do additional programming and testing of IRS […]

Where Is My IRS Second Economic Impact Payment?

Starting December 29, 2020 the IRS begins delivering the second round of Economic Impact Payments On December 27, 2020 President Trump signed the $900 million Stimulus Bill formally known as the Coronavirus Response and Relief Supplemental Appropriations Act of 2021 (the “CARES Act II”) to provide assistance to workplaces and employees. The CARES Act II […]

IRS Criminal Investigation Division Releases Its 2020 Annual Report

On November 16, 2020 the IRS released the Criminal Investigation Division’s (CI) annual report, highlighting significant successes and criminal enforcement actions taken in fiscal year ending September 30, 2020.  The IRS noted that a key achievement was the identification of over $10 billion in tax fraud and other financial crimes. In issuing this report IRS Commissioner Chuck […]

IRS Gearing Up To Resume Home Visits – What High Income Taxpayers Should Know About Filing Late Tax Returns

Every year, about 9 million taxpayers miss tax deadline or fail to file their tax returns according to data from the Internal Revenue Service. How To Handle Late Tax Returns? The Treasury Inspector General for Tax Administration on May 29, 2020 issued a report finding that about 880,000 high-income nonfilers in tax years 2014 through 2016 had an estimated […]

Mississippi Tax Preparer Sentenced to Prison for False IRS Returns

The U.S. Attorney’s Office for the Southern District of Mississippi announced on November 5, 2020 in a press release that Talvesha Glaude who owned and operated a tax return preparation business was sentenced to 22 months in prison for preparing false income tax returns and ordered to serve one year of supervised release and to pay […]

IRS Provides Tax Relief For Victims Of September 2020 Wildfires In California.

The IRS announced on October 19, 2020 that victims of the California wildfires that began September 4th may qualify for tax relief.  Individuals who reside or have a business in Fresno, Los Angeles, Madera, Mendocino, San Bernardino, San Diego and Siskiyou counties in California, have until January 15, 2021, to file certain individual and business tax returns and make […]