What the pandemic relief bill means to you - if it's signed

Congress passed more pandemic relief but the bill remains in limbo. Learn what's at stake for you.

 


 

Comments

Post a Comment

Popular posts from this blog

Taxpayers are Receiving Tax Forms for Unemployment Benefits they did not Receive

Scammers have taken advantage of the huge number of new unemployment claims to slip in fraudulent claims. Taxpayers often have no warning their identity has been stolen until they receive a tax form from the unemployment office. New York residents may be extra vulnerable because the state doesn’t mail the 1099-G tax forms. Instead, unemployment recipients must log into their unemployment account to retrieve the form electronically. Of course, taxpayers who haven’t claimed unemployment won’t know that an account was set up in their name by the scammers, and would not know the password to access it. If you receive a 1099-G for benefits you did not receive or, after filing your return, an IRS letter for unreported benefits should contact the state agency to get a corrected 1099-G and omit any income you did not received when filing your tax return. You don’t need to wait to receive the corrected form before filing. Read more on irs.gov .
Read more

What to do if you get an IRS letter

 by Thomas Bridgman, EA Hudson Valley Tax Experts assists taxpayers with IRS and state tax issues , from responding to letters and handling audits to preparing unfiled returns and negotiating payment arrangements. IRS and the states rely heavily on mail correspondence to conduct their business. There's nothing quite like opening your mailbox and finding a letter from the IRS to raise your blood pressure and quicken your breath. The IRS is not known for sending cheery notes (“hey, hope you’re having a great summer, thinking of you!”) and if you find that an IRS return address beings on a feeling of dread, you’re not alone. It may seem obvious, but the first step on discovering that unwelcome visitor in your mailbox is: don’t panic and open the envelope . (Okay, that’s two steps, but they go hand in hand. Call them 1A and 1B. You can add 1C: take a deep breath.) Resist the urge to file the unopened letter in the sock drawer or bury it in the garden. Whatever news it contains, g...
Read more