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Month: October 2020

2019 Tax Rates and Income Brackets

2019 Tax Rates and Income Brackets Before the TCJA was passed, the IRS adjusted the rates and brackets for inflation using the Consumer Price Index (CPI). Once the act was passed, the IRS began using the Chained Consumer Price Index (C-CPI) to adjust. There are still seven separate income tax brackets. In 2018, most of the rates were …

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What happens after a disaster that leads to taxpayer relief?

What happens after a disaster that leads to taxpayer relief? <img width=”1024″ height=”538″ src=”https://tax-turbo.com/wp-content/uploads/2020/10/taxes-tax-office-usa-646509-1024×538.jpg&#8221; alt=”taxes, tax office, usa” loading=”lazy” srcset=”https://i1.wp.com/tax-turbo.com/wp-content/uploads/2020/10/taxes-tax-office-usa-646509.jpg?resize=1024%2C538&amp;ssl=1 1024w, https://i1.wp.com/tax-turbo.com/wp-content/uploads/2020/10/taxes-tax-office-usa-646509.jpg?resize=300%2C158&amp;ssl=1 300w, https://i1.wp.com/tax-turbo.com/wp-content/uploads/2020/10/taxes-tax-office-usa-646509.jpg?resize=768%2C404&amp;ssl=1 768w, https://i1.wp.com/tax-turbo.com/wp-content/uploads/2020/10/taxes-tax-office-usa-646509.jpg?w=1280&amp;ssl=1 1280w” sizes=”(max-width: 1024px) 100vw, 1024px” /> No matter how devastating a disaster is, before the IRS can authorize any tax relief, FEMA must issue a major disaster declaration and …

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Tips to help taxpayers avoid post-disaster scams

Tips to help taxpayers avoid post-disaster scams <p>The IRS reminds taxpayers that criminals and scammers often try to take advantage of generous taxpayers who want to help disaster victims. Everyone should be vigilant. These scams often pop up after a hurricane, wildfire or other disaster.</p><h2>How the scams start</h2><p>These disaster scams normally start with unsolicited contact. …

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Reviewing these disaster resources now can help taxpayers be more prepared later

Reviewing these disaster resources now can help taxpayers be more prepared later No one can fully prepare for a disaster, but knowing what resources are available beforehand can make the recovery a little easier. Here’s a list of resources that taxpayers might find helpful before and after a disaster: Tax relief in disaster situations — This …

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Most taxpayers who requested an extension to file must file today

Today is the filing extension deadline. Most taxpayers who requested an extension of time to file their 2019 tax return must file today. Those filing today who also owe taxes should pay as much as possible to reduce interest and penalties. The extension of time to file is not an extension to pay. Taxes must …

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IRS extends Economic Impact Payment registration deadline for non-filers to Nov. 21

The deadline to register for an Economic Impact Payment using the Non-Filers tool is extended to November 21, 2020. The IRS urges people who don’t typically file a tax return – and haven’t received an Economic Impact Payment – to register as quickly as possible using the Non-Filers: Enter Info Here tool on IRS.gov. The tool will …

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