CAD Tax Consulting

FYI…

COVID Tax Tip 2022-03: IRS sending information letters to recipients of advance child tax credit payments and third Economic Impact Payments COVID Tax Tip 2022-03: IRS sending information letters to recipients of advance child tax credit payments and third Economic Impact Payments Internal Revenue Service (IRS) sent this bulletin at 01/05/2022 09:02 AM EST IRS Tax Tips January 5, 2022 Useful Links: IRS.gov Help For Hurricane Victims News...

FYI…

Your Child Tax Credit Payment Just Arrived. Are You Sure You Want It? — The Wall Street Journal More than 35 million U.S. households are now getting monthly cash payments of their 2021 child tax credits. While the payments will help some families greatly, they could also bring unexpected tax bills next year.

👍😉

IR-2021-59: 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.

IR-2021-31: New IRS form available for self-employed individuals to claim COVID-19 sick and family leave tax credits under FFCRA WASHINGTON – The Internal Revenue Service announced today that a new form is available for eligible self-employed individuals to claim sick and family leave tax credits under the Families First Coronavirus Response Act (FFCRA).

Tax Tip 2021-06: What taxpayers need to know to claim the earned income tax credit Thank you for subscribing to IRS Tax Tips, an IRS e-mail service. For more information on federal taxes please visit IRS.gov.

IRS to begin accepting tax returns on Feb 12....going to be a massive server strain 🤦‍♂️

For non-filer stimulus payments!

IR-2020-69: Treasury, IRS launch new tool to help non-filers register for Economic Impact Payments IRS.gov feature helps people who normally don’t file get payments; second tool next week provides taxpayers with payment delivery date and provide direct deposit information

Thought I would share a notification I received today from my software provider:

Beware of Stimulus Payment Scams

Tax Professionals — here’s what taxpayers need to know about stimulus payment processing in order to protect themselves from scammers:
Be alert for phone scams.
The Internal Revenue Service (IRS), Treasury Department, or any other government agency will not contact you by phone to collect information for stimulus payment processing. Period.

Be alert for phishing scams.
Government agencies will not email or text you to collect information for stimulus payment processing. Watch for suspicious emails or texts with links or attachments requesting information for processing stimulus deposits or checks. If you receive one, do not click the link or open the attachment. It’s a scam. Delete it.

Be alert for state-related scams.
State agencies will also not call, email or text you to collect information or a fee to process a stimulus payment. To date, no state has introduced their own version of a stimulus payment.
As of now, we are only aware of one communication a taxpayer will receive from the IRS. No later than 15 days after distributing a stimulus payment, the IRS is required to mail a notice to the taxpayer indicating the payment amount, whether the payment was mailed or deposited, and a phone number to call if the taxpayer did not receive the payment.

Victims or targets of stimulus payment scams should report it immediately to the Federal Trade Commission, www.ftc.gov/complaint.

- FTC Complaint Assistant IdentityTheft.gov is the federal government's one-stop resource for identity theft victims. The site provides streamlined checklists and sample letters to guide you through the recovery process. Visit ftc.gov/idtheft for prevention tips and free resources to share in your community.

I assume everyone is aware...but just in case, thought I’d pass this along.

IR-2020-58: Tax Day now July 15: Treasury, IRS extend filing deadline and federal tax payments regardless of amount owed WASHINGTON – The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020.

It’s about time😉

IR-2019-139: IRS launches new Tax Withholding Estimator; Redesigned online tool makes it easier to do a paycheck checkup WASHINGTON — The Internal Revenue Service today launched the new Tax Withholding Estimator, an expanded, mobile-friendly online tool designed to make it easier for everyone to have the right amount of tax withheld during the year.

Don’t get caught offguard!!

IR-2019-107: IRS continues campaign to encourage taxpayers to do a Paycheck Checkup; use Withholding Calculator to help get right amount for 2019 WASHINGTON — The Internal Revenue Service today launched a special week-long campaign encouraging taxpayers to do a Paycheck Checkup now to make sure they are having the right amount of tax taken out of their paychecks for 2019.

Just wanted to say “thank you” to all my clients. We made it through another tax season!! I wish everyone a great year and look forward to serving you next year 😉