Can you believe it has been a whole week since our last post? While the days seem to go by slowly, it also seems that new developments happen at the speed of light! As Tax Day approaches, we want to fill you in on some of the developments that might directly affect you!
Check out this website to stay up to date on the latest developments. Practical Accounting Solutions is happy to help decipher some of the language, as tax law jargon can be a bit tricky! This website is the official site of the IRS regarding changes to paying your taxes this year.
The Deadline for Federal Income Taxes - The deadline to file and pay federal income tax is now July 15, 2020. For more information, check out the official guidelines here.
Where’s My Refund - an online tool to track where in the process your tax refund is.
This is the official IRS tool where you can find how much you owe, the balance for each tax year, your payment history, and key information from the most current tax filing.
Last week, we talked about the Families First Coronavirus Response Act (Missed it? Click HERE). We gave a brief overview, but this link provides answers to more specific questions you may have regarding where you qualify.
As noted, the federal income tax deadline has been moved to July 15, 2020. This site provides answers to frequently asked questions. You'll find answers to questions about specific relief circumstances, what to do to avoid interest and penalties, state tax liabilities, payment schedule options, and more.
Do you have an idea for a blog post you'd like to share? Perhaps there's a new development we can talk about, or a tax area you're curious about? Email the marketing coordinator at Elaina@PracticalAccountingVA.com
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Disclaimer: The views presented in this post are meant as educational resources and should not be taken as direct advice for your personal finances or small business. Should you have questions regarding a post relating to your specific finances, please contact us at info@practicalaccountingva.com.
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