Jay Freeborne

by Jay Freeborne, Enrolled Agent

IRS Collections

1. Don't be duped by FAKE IRS seizure or "distraint warrant" letters. The IRS isn't really going that far right now.

2. IRS Revenue Officers are still working cases for people/businesses who owe 941s/1040s taxes. Though, they just aren't pulling the levy trigger as often right now.

3. Outside of Revenue Officers, IRS collections is still operating but is more limited in issuing levies. Of focused interest are tax balances that might be expiring.

Filing your Tax Returns

4. The 2019 1040 filing deadline has been extended to 7/15/2020.

5. The 2016 tax refund deadline which would have been 4/15/20 has also been extended to 7/15/2020.

6. If you didn't have a filing requirement (Social Security/Disability), you also will receive a covid relief payment without filing a return.

7. Haven't filed taxes in years? Filing the last six years (2014 to 2019), should bring you into compliance.

8. Haven't filed taxes in years and getting refunds? Filing the last four years (2016 to 2019), should net you refunds (file 2014, 2015 if the IRS asks you to).

9. If you filed your 2018 or 2019 1040 tax return, you should get a covid relief payment. Efiling '18 or '19 with your bank info (even if you owe taxes) will expedite the payment.

Bottomline

10. The next 90 days is a rare IRS slowdown where you can truly get caught up on your tax issue: file your missing years, settle your debt with IRS (showing reduce income) or submit a penalty waiver request. You might not see a dormant period for the IRS like this ever again.

In our 31st year of business, WATAX is ready to help you solve your unfiled taxes or tax liability issue. Email us a description of your tax issue or call us at 1-888-282-4697.

Registered members of the National Association of Enrolled Agents.

Call and talk with a tax expert for free:
(888) 282-4697

or email us now