Tag Archives: 2020.Tax.Season

If You Haven’t Filed Your 2019 and/or 2020 Tax Returns, You Have One Month to Do So and Avoid Late Filing Penalties

Earlier today, the IRS announced extremely broad penalty relief for 2019 and 2020 late-filed tax returns.  Here’s the beginning of the IRS’s press release: To help struggling taxpayers affected by the COVID-19 pandemic, the Internal Revenue Service today issued Notice … Continue reading

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More Erroneous IRS Notices

In yesterday’s mail we received several IRS CP59 Notices for clients. What’s a CP59 Notice? Well, here’s the first two lines: You didn’t file a Form 1040 tax return. You haven’t filed your tax return for the tax year ending … Continue reading

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IRS Issuing Erroneous CP14 Notices

One of our clients received a CP14 Notice alleging she owed the late payment penalty (“Failure to Pay under Internal Revenue Code Section 6651). The notice noted he had an unpaid balance of $583 as of July 15, 2020 on … Continue reading

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This Deposit from “IRS 310” Is Your Stimulus Payment

This morning, I found a very small deposit in my bank account; it was coded “IRS 310”. It’s the second stimulus payment, and it’s real. Kudos to the IRS for getting these out almost instantaneously with the signing of the … Continue reading

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When It Takes the IRS 5+ Months to Process an Amended Return…

Back in May, clients of mine discovered they left something out of their 2018 tax return. We prepared an amended return, the clients included a check for the additional tax, and it was mailed off to Kansas City. The check … Continue reading

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IRS Mailing Erroneous CP259F Notices

We prepare a few split-interest charitable trust returns (IRS Form 5227) every year. Coincidentally, I serve as trustee of a split-interest trust. Imagine my surprise when I received a CP259F Notice from the IRS for the trust that I am … Continue reading

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It’s Time to Panic

As I write this, it’s September 30th. Two weeks from tomorrow is Thursday, October 15, 2020. That’s the deadline for individual taxpayers on extension to file their tax returns (except for those in disaster areas such as the fires that … Continue reading

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The Dead Need Not Amend (Even When They Have To)

When I eventually go to the pearly gates, I assume I’ll be leaving income tax behind. It would be a rather rude surprise to find I have lifetime employment in the great beyond, too. This past week I needed to … Continue reading

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The Perils of Waiting to the Last Minute

The extended deadline for partnership and S-Corporation tax returns was this past Tuesday, and all of our returns were completed and filed that could be (but one). And that one client understood the issues with late filing–but more on that … Continue reading

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IRS Extends Tax Deadlines for Victims of Iowa Derecho & California Wildfires

The IRS announced yesterday that they have extended tax deadlines for victims of both the derecho that hit Iowa and the ongoing California wildfires. The specific counties impacted can be found on the Federal Emergency Management Agency (FEMA) website. For … Continue reading

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