IRS to recalculate taxes on unemployment benefits; refunds to start in May WASHINGTON – To help taxpayers, the Internal Revenue Service announced today that it will take steps to automatically refund money this spring and summer to people who filed their tax return reporting unemployment compensation before the recent changes made by the American Rescue […]
Tax Day for individuals extended to May 17: Treasury, IRS extend filing and payment deadline
WASHINGTON — The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date for individuals for the 2020 tax year will be automatically extended from April 15, 2021, to May 17, 2021. The IRS will be providing formal guidance in the coming days. “This continues to be a tough […]
IRS begins delivering third round of Economic Impact Payments to Americans
WASHINGTON – The Internal Revenue Service announced today that the third round of Economic Impact Payments will begin reaching Americans over the next week. Following approval of the American Rescue Plan Act, the first batch of payments will be sent by direct deposit, which some recipients will start receiving as early as this weekend, and […]
Need more time to prepare your federal tax return?
Please be aware that: An extension of time to file your return does not grant you any extension of time to pay your taxes. You should estimate and pay any owed taxes by your regular deadline to help avoid possible penalties. You must file your extension request no later than the regular due date of […]
Who will receive the Third Stimulus check?
The U.S. Senate approved President Biden’s $1.9 trillion coronavirus relief package Saturday, directing a third round of stimulus checks to most Americans. The bill will return to the House this week for final approval. If the bill is signed into law, the IRS could begin delivering the checks within days to one week, based on the timeframe […]