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To start with, we at Century wish the best for you and your families during this unprecedented time. We promised to keep you up to date with the latest news regarding income and tax matters. The Families First Coronavirus Response Act was signed into law late Wednesday, so I will update you on that, but I want to touch on a few other areas first. When we last reported, the tax filing deadline had not been extended past April 15th – ...
With news updates being posted every few minutes, keeping up on the latest developments can be overwhelming. We want to give you a concise update on the economic and tax issues as they stand at the moment. Tax Deadlines: The Treasury Department did NOT extend the deadline to file taxes past April 15th. What they did do was extent the due date for any tax payments owed. Those payments are now able to be automatically deferred, interest f...
This post has been updated. Find the new post here: 9 Things The IRS Doesn’t Want You To Know About Getting Married...
Updated July 12, 2020 One in five U.S. taxpayers could owe the IRS money this year. If you can’t pay on the 15th, take a deep breath — there are things you can do. Even if you can’t afford to pay your taxes, it is imperative that you still file a timely return and make arrangements to pay what you owe. Failing to do so will result in penalties and interest. However, don’t panic. You should contact the IRS to discuss your payment...
According to the IRS, tax season is again off to a slow start. Over the past five years taxpayers have not been in a rush to file as early as possible. During the 2016 filing season, 38.7 million returns were filed through the first week of February. The number of returns filed this year during this time period – only 28.6 million. A recent survey showed that the majority of taxpayers are still confused over the changes that were impl...
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