The Bottom Line Laura J. Bottom, EA

IRS issues warning about Coronavirus-related scams; watch out for schemes tied to economic impact payments 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. "We urge people to take extra care during this period. The IRS isn't going to call you asking to verify or provide your financial informat...Continue reading

COVID-19 - Tax Return Filing & Payment Relief The Internal Revenue Service and the California Franchise Tax Board have automatically extended both the filing and payment deadlines from April 15, 2020 to July 15, 2020 for individuals, trusts, estates, corporations, or any type of unincorporated business entity. Interest and penalties will begin to accrue after July 15. If you are required to make estimated tax payments, the April 15 estimated tax payment due date is also postp...oned until July 15, 2020. At this time the postponement only applies to the April 15, 2020 payment. The June 15, 2020 estimated payment due date remains the same. If you are making an IRA, HSA, or Archer MSA contribution for 2019, these payments are also extended to July 15, 2020.

IMPORTANT INFO FROM THE IRS WEBSITE: COVID-19 SCAMS If you receive calls, emails, or other communications claiming to be from the Treasury Department and offering COVID-19 related grants or stimulus payments in exchange for personal financial information, or an advance fee, tax, or charge of any kind, including the purchase of gift cards, please do not respond. These are scams. Please contact the FBI at www.ic3.gov so that the scammers can be tracked and stopped.

Please don't share your crud with others. I'm going to make this about me...I don't have the luxury of staying home right now.

As we head out to spend the holiday with our families and friends, we want to take this time to wish you all the Merriest of Christmas' and the Happiest of New Years. Thank you for being a part of our journey. Merry Christmas!