IRS
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Last Year, IRS postponed tax-filing deadline from April 15th to July 15th. Not only were taxpayers given an extra three months to submit their returns, but they also got three more months to pay any tax debt they owed without incurring interest or penalties. NOT THIS YEAR! The IRS has confirmed this week that it […]
This year’s tax season begins on Feb. 12. Experts recommend filing early. The sooner you get everything to the IRS, the quicker you’ll get your money back, including missing stimulus checks. The benefits of filing early apply to a number of groups of people who didn’t get all the money they were entitled to as part […]
Free File Alliance, an IRS program that partners with private companies to provide free tax preparation to millions of filers. Is available to those whose adjusted gross income was $72,000 or less in 2020. With tax season officially starting on Feb. 12th the agency officially announced last week that Free File was open. The public-private […]
The IRS claims the Prince estate is being undervalued. The Internal Revenue Service valued Prince’s estate at $163.2 million. The number much higher than the $82.3 million valuation submitted by the estate’s administrator Comerica Bank and Trust, according to the Minnesota’s Star Tribute. According to the report; the gap is tied to Prince’s music publishing and […]
Ever since Prince passed away in April of 2016, there has been an ongoing legal battle to determine the distribution of his estate. Prince didn’t have a will and now the IRS is saying that the estate is extremely undervalued, monetarily speaking. According to the Associated Press: “The IRS determined that Prince’s estate is worth […]
If you don’t normally file a tax return you still may be eligible for the Economic Impact Payment. The Internal Revenue Service has extended the deadline for people to register for a stimulus payment. But ONLY if you have not received one. The deadline is November 21, 2020, for people to register but again only […]
When Congress passed the COVID-19 relief package in May, over $100,000 in the for of stimulus checks went to incarcerated individuals. While the legislation doesn’t exactly exclude inmates, the IRS is actively seizing the funds that were sent, using the guidelines on Social Security to justify their action. The Social Security Act refuses incarcerated people from receiving certain types of […]
There are about 30 million to 35 million Economic Impact Payments that still need to be sent out. According to the House Ways and Means Committee said the estimation are from people who do not file tax returns. For example they would be individuals on Social Security, or received Railroad Retirement, Supplemental Security Income, or […]
If you have not received your Economic Impact Payment physical check yet it may be because it will not be a check but a debit card. The Department of Treasury and the IRS announced this week they will start sending out the rest of the stimulus checks via debit cards. The Department of Treasury has […]
This morning on the Wake Up Club a few people called and texted in about not receiving their stimulus payment. If you are supposed to get a check instead of direct deposit again, it will come on a debit card. A letter should of been mailed to you telling you that you will receive the […]
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