TaxWorks Plus, Inc

IRS has "started hiring" 3,500 representatives to talk to taxpayers about their various stimulus-related issues. In case you don't have the phone number handy yet, the IRS "Economic Impact Payment Line" is 800-919-9835.

Small businesses should always seek alliances with others known to serve small businesses. Our bank partner was successful for many of our clients and were extremely helpful. Too bad, many thought the big banks would be more helpful. https://www.usatoday.com//wells-fargo-lawsuit/5162801002/

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Beware of Stimulus Payment Scams Be alert for phone scams. The Internal Revenue Service (IRS), Treasury Department, or any other government agency will not contact you by phone to collect information for stimulus payment processing. Period.... Be alert for phishing scams. Government agencies will not email or text you to collect information for stimulus payment processing. Watch for suspicious emails or texts with links or attachments requesting information for processing stimulus deposits or checks. If you receive one, do not click the link or open the attachment. It’s a scam. Delete it. Be alert for state-related scams. State agencies will also not call, email or text you to collect information or a fee to process a stimulus payment. To date, no state has introduced their own version of a stimulus payment. As of now, we are only aware of one communication a taxpayer will receive from the IRS. No later than 15 days after distributing a stimulus payment, the IRS is required to mail a notice to the taxpayer indicating the payment amount, whether the payment was mailed or deposited, and a phone number to call if the taxpayer did not receive the payment.

Tax Filing Deadline Extended Amid COVID-19 Outbreak Treasury Secretary Steven Mnuchin announced today that taxpayers (individuals and businesses) would now have an additional 90 days, until July 15, 2020, to file their 2019 tax returns. This latest announcement sets both the filing and payment deadlines to the same day, removing any potential Tax Day confusion.

Tax Update for filing deadlines as of 3/18/2020. As of now, this is what we understand based on his announcement: 1. The individual filing deadline is still April 15 2. Those who can file their taxes should file by the normal tax filing deadline 3. Those who can’t file by the deadline should file an extension by April 15... 4. Taxpayers, both individuals and corporations, can defer a tax due payment, interest-free and penalty-free, for an additional 90 days after April 15 See more

15-Step Yearly Checkup for Your Small Business Are You on Track? Many business owners are so busy running their companies, they don’t take the time to check in on their businesses’ financial health. Read more via: https://bit.ly/2tIpgnx

What Should Your Clients Do in the Event of an Audit? IRS audits are usually relatively uneventful, but be concerned when an IRS investigator walks in unannounced at your home or office and asks to see your records. Read More via: https://bit.ly/2sARIqD