Tag Archives: 2020.Tax.Season

That Direct Deposit from “IRS TREAS 310” Is Legitimate

Posted on August 19, 2020 by Russ

Taxpayers who filed after April 15th are being paid interest on their refunds. The IRS issued a press release earlier this week, stating: This week the Treasury Department and the Internal Revenue Service will send interest payments to about 13.9 … Continue reading →

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No, Please No

Posted on June 24, 2020 by Russ

A brief story in today’s Wall Street Journal (Pay$ Link) states that Secretary of the Treasury Mnuchin may consider extending the July 15th tax deadline (which was, of course, originally April 15th) again. Quoting the Journal, Asked in an interview … Continue reading →

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Not Only Incoming Mail is Backlogged at the IRS

Posted on June 11, 2020 by Russ

This morning, our IRS Stakeholder Liaison held a conference call on the current IRS situation. One unfortunate piece of information that was noted is that not only does the IRS have a backlog of incoming mail (estimated at well over … Continue reading →

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IRS Reopening More Offices in June

Posted on June 5, 2020 by Russ

On June 1st the IRS opened offices in Kentucky, Texas, and Utah. That’s important for those of us in the tax professional community as two of the major IRS Service Centers for processing returns are in those states (Austin and … Continue reading →

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Patiently

Posted on May 20, 2020 by Russ

Two clients asked me about their tax refunds this week. Both had filed several weeks ago, and each had received their state refunds. Neither had received their federal refunds. With the IRS phone lines for practitioners now working (albeit with … Continue reading →

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Ten Days (More Kudos to the IRS)

Posted on May 6, 2020 by Russ

We owe tax almost every year. Yes, I make estimated payments, but my business has been growing, investments are making money, so my tax bill goes up every year. That means when I initially looked to see when our stimulus … Continue reading →

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IRS’s “Get My Payment” App Now Works for Most 2018 Filers

Posted on April 24, 2020 by Russ

If you filed your 2018 return but haven’t filed 2019, and you wanted to update your information on the IRS’s “Get My Payment” App, you’ve been frustrated because it hasn’t worked. Last night, the IRS updated the information to include … Continue reading →

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When Will the Stimulus Checks be Mailed?

Posted on April 23, 2020 by Russ

Something I missed was an article in the Washington Post giving details of mailing stimulus payments. The Motley Fool took it and laid out the dates that stimulus payments will be mailed. I note those dates below. But there’s another … Continue reading →

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Why “Get My Payment” Doesn’t Work for 2018 Filers who Owed Tax and Haven’t Filed 2019 Returns

Posted on April 16, 2020 by Russ

UPDATE: The IRS updated the app; as of April 24th, the app now works for most 2018 filers. See my new post. So let’s say your income was low enough in 2018 so you qualify for a Recovery Rebate/Economic Impact … Continue reading →

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“Get My Payment” Is Up, But…

Posted on April 15, 2020 by Russ

The IRS’s new app, “Get My Payment,” is now active. In theory, if you use this app you can update your banking information and check to see when your Recovery Rebate payment will be made. If you need to add … Continue reading →

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