The IRS is committed to helping you get your Economic Impact Payment as soon as possible. The payments, also referred to by some as stimulus payments, are automatic for most taxpayers. No further action is needed by taxpayers who filed tax returns in 2018 and 2019 and most seniors and retirees.

See if you are eligible for an Economic Impact Payment.

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Check IRS.gov for the latest information: No action needed by most people at this time

Updated with new information for seniors, retirees on April 1, 2020. Also see Treasury news release.

WASHINGTON — The Treasury Department and the Internal Revenue Service today announced that distribution of economic impact payments will begin in the next three weeks and will be distributed automatically, with no action required for most people. However, some taxpayers who typically do not file returns will need to submit a simple tax return to receive the economic impact payment.

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https://www.irs.gov/ – April 2, 2020

WASHINGTON — The Internal Revenue Service today urged taxpayers to be on the lookout for a surge of calls and email phishing attempts about the Coronavirus, or COVID-19. These contacts can lead to tax-related fraud and identity theft.

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WASHINGTON — President Donald Trump pressed Congress on Friday to include a nine-month payroll tax holiday in the coronavirus relief package that is being finalized in the Democratic-led House.

[Update: On Friday, March 13, 2020, President Donald Trump announced he was declaring a state of emergency over the Coronavirus. As of this update, the Treasury Department and the IRS have not yet announced the new tax deadline.]

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Many people assume that the IRS will not impose penalties if you weren’t actually trying to cheat on your taxes. After all, taxes are complex, and mistakes happen. But the burden is on you to show that you acted reasonably. Relying on professional tax advice can be one way. If you can’t convince the IRS, you will probably end up with penalties. The size of penalties varies, but they are often around 25%. Higher penalties and even criminal prosecution are possible in some cases. You might even have to prove you are right or that your mistakes were innocent. If the IRS believes you were trying to cheat, you could face a civil penalty of 75% or even criminal prosecution. And remember, most criminal tax cases start with civil audits.

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Tax season is in full swing — and that means it’s hunting time for scam artists hoping to rip off taxpayers.

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Just because the IRS is auditing fewer tax returns, don’t assume you can dupe the taxman.

With much of the agency’s systems automated to spot certain discrepancies, and some parts of tax returns typically generating more scrutiny than others, the risk of hearing from the IRS still remains.

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The new year is just over a week old, but it’s almost time to get cracking on those 2019 tax returns.

Proactive taxpayers can start submitting last year’s tax returns to the IRS as early as Jan. 27. As always, you have until April 15 to file your 2019 tax return.

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In the final weeks of the tax filing season, the IRS is warning people to be extra wary of scams and attempts to steal your personal information.

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To my valued customers:

Coronavirus disease (COVID-19)

You have always depended on me to provide you with great service for all your Tax needs. From filing a simple Tax return to the most complex corporate return my goal has always been to do what is right for you and of course always do it with a smile! In response to the many customer inquiries I will continue to be open to serve you. My office is a safe environment however if you feel uncomfortable going out in today’s environment or just find you are running out of time, do what many of my long term clients do. E-mail me your information and we can complete your Tax Returns electronically. We can conference by phone to go over the details just as if we were talking in person. Payments can be made by many forms including Zelle so basically we can do everything you need without having ever having to visit my office.

My goal is to provide my customers the service they require when and how they would like. Give me a call when you are ready and we can schedule an appointment whether you wish it to be in person or electronically.

Thank you again for your patronage and please be safe!

Patty | (310) 676 1312