October 15 Reminder for Extension Filers

https://www.youtube.com/embed/loyeBajatFc If you requested an extension of time to file your tax return, don't forget that the October 15 deadline is just around the corner. If you owe taxes this year, pay as soon as possible to limit penalties and interest. To learn more about payment options, including what to do if you can't pay …

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Unemployment Compensation is Taxable

This article was published by the IRS. With millions of Americans now receiving taxable unemployment compensation, many of them for the first time, the IRS is reminding people receiving unemployment compensation that they can have tax withheld from their benefits now to help avoid owing taxes on this income when they file their federal income tax …

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Social Security Administration Warns About Recent Scams

This article was published by the SSA. The most effective way to defeat scammers is to know how to identify scams. You should just hang up on any call you’re uncertain of and ignore suspicious emails.  Scammers are always finding new ways to steal your money and personal information by exploiting your fears. One common …

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Looking to Settle for Less with the IRS?

https://www.youtube.com/embed/XUd3O8yfzZA If you have a tax bill you can't pay but you're looking to settle your debt with the IRS, you may be eligible for an Offer in Compromise (OIC) with the IRS. You don't need to go through a third-party company; you can work directly with the IRS to negotiate an OIC. An OIC …

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Financial Safety is an Important Part of Disaster Preparedness

This article was published by the IRS. Before a natural disaster strikes, taxpayers are encouraged to prepare, if possible. This includes developing evacuation plans, putting together kits of essential supplies and putting financial safety measures in place.  To help protect their financial safety in a disaster situation, taxpayers should: Update emergency plans. A disaster can strike at …

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National Preparedness Month: Evaluate Your Disaster Plan

This article was published by the SBA. Revisit and update your disaster plan to make sure your business and staff are protected. Small business owners are natural planners. You know exactly how you want your business to look six months or a year from now, and you work hard toward your goals every day. Unfortunately, …

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Getting Married?

https://www.youtube.com/embed/t9KPqIanpsU If you recently got married or are planning to get married before the end of the year, be sure you realize that this life event will affect your federal taxes. Getting married will mean choosing a different filing status when filing your taxes. If you're married as of Dec. 31, that will be your …

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Earning Side Income: Is It a Hobby or a Business?

Whether it's something they've been doing for years or something they just started to make extra money, taxpayers must report income earned from hobbies in 2020 on next year's tax return. What is the difference between a hobby and a business? A business operates to make a profit. People engage in a hobby for sport …

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Use Non-Filers Online Tool to Register for Economic Impact Payment

  Most eligible individuals received their Economic Impact Payments automatically. However, some eligible Americans with incomes that do not require them to file a tax return will need to submit information to the IRS by October 15 to receive their payment. This information should be entered using the free Non-Filers online tool located at http://www.irs.gov/nonfilereip. …

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