How to Verify your Identity with IRS and Get your Refund in 3 Steps

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You may have received a letter from the IRS asking you to verify your identity after filing a tax return. These letters are sent by the IRS to prevent identity thieves from getting your refund. 1 When do you need to verify your identity?2 First, gather your supporting documents3 Second, verify your identification3.1 Online ID … Read more

How to Request an Audit Reconsideration

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An Audit Reconsideration is a process used by the Internal Revenue Service to help you when you disagree with the results of an IRS audit of your tax return, or a return created for you by the IRS because you did not file a tax return. 1 Reasons why you may want to request an … Read more

What happens if you don’t pay your taxes?

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It’s hard to think of anything more stressful than dealing with IRS collections. If a taxpayer is unable to pay or make arrangements, what follows is a series of enforcement actions by the computerized notice system, automated collections system, and sometimes an IRS Revenue Officer knocking at their door. 1 Computerized notices and automated collections … Read more

What is the tax return filing deadline in 2021?

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Per IR-2021-59, the 2020 tax return deadline for individuals has been automatically extended from April 15, 2021 to May 17, 2021. This also extends the time to pay outstanding income taxes for the 2020 tax period to May 17, 2021. To extend the deadline from May 17 to October 15, 2021, taxpayers must file Form … Read more

Third Coronavirus Stimulus Check — What you need to know

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On March 11, 2021 the $1.9 trillion American Rescue Plan was signed into law. Among other things, the Plan provides for additional Economic Impact Payment (aka stimulus payments). 1 When will you receive the 3nd stimulus check?2 How much stimulus will you get?3 Who will qualify for stimulus check #3?4 Which tax return will the … Read more

IRS Publishes FAQ on the Recovery Rebate Credit

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From IRS.gov. Most individuals eligible for the Recovery Rebate Credit have already received the full amount in two rounds of payments, known as Economic Impact Payments. If we issued you the full amount of each Economic Impact Payment, you won’t need to claim the Recovery Rebate Credit or include any information related to it when … Read more

Second Coronavirus Stimulus Check — What you need to know

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Congress recently voted to authorize another round of stimulus checks due to the economic fallout from Covid-19. The second stimulus check will be up to $600 per adult and $600 for each child dependent. A child dependent is defined as a child that is 16 years old or younger. There is no cap on the … Read more

How do you renew an ITIN?

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In order to renew an ITIN, you must complete a new Form W-7 and submit all required identification documents to the IRS. See the Form W-7 instructions for details. While you do not need to submit a tax return with your ITIN application, you should file a return if you have a filing requirement. Your … Read more

Today is Tax Day 2020!

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While taxes are normally due April 15th, this year Congress extended the filing deadline to July 15th. Today, July 15th, is the deadline to file your 2019 Form 1040 tax return, unless you’ve filed an extension to October 15th. Here some tips for tax day and a little tax day history. 1 The April 15th … Read more