IRS provides tax relief for victims of Hurricane Sally; Oct. 15 deadline, other dates extended to Jan. 15

WASHINGTON — Victims of Hurricane Sally that began on Sept. 14 now have until Jan. 15, 2021 to file various individual and business tax returns and make tax payments, the Internal Revenue Service announced today. The IRS is offering this…

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Posted: 09/24/2020

Deadline to return RMD distributions to retirement accounts is Aug. 31

The Internal Revenue Service today reminds IRA owners, beneficiaries or workplace retirement plan participants who received a Required Minimum Distribution (RMD) this year that they have until Aug. 31 to rollover or repay the distribution to avoid paying taxes. The…

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Posted: 08/24/2020

IRS to Pay Interest to 13.9 Million Taxpayers

The IRS is sending interest payments averaging $18 to almost 14 million taxpayers who filed their federal income tax return by July 15th and were due a refund. If you received your 2019 refund by direct deposit to your bank…

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Posted: 08/20/2020

IRS: New law provides relief for eligible taxpayers who need funds from IRAs and other retirement plans

WASHINGTON − The Internal Revenue Service provided a reminder today that the Coronavirus Aid, Relief, and Economic Security (CARES) Act can help eligible taxpayers in need by providing favorable tax treatment for withdrawals from retirement plans and IRAs and allowing…

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Posted: 07/30/2020