Delia Law

IRS announces tax filing season to begin February 12th. Start preparing if you haven’t already and be sure to e-file. Shared by Dawn Delia #2021taxfilingseason... #pandemic #refunds #IRS https://www.irs.gov//2021-tax-filing-season-begins-feb-12-

IRS to deliver second round of Economic Impact Payments due to Covid-19. Some may be deposited as early as tonight. Shared by Dawn Delia #COVID19... #EconomicImpactPayment #IRS https://www.irs.gov//treasury-and-irs-begin-delivering-sec

IRS making it easier to resolve your tax debt due to Covid-related financial difficulties. They are providing flexibility with payment plans and IRS collections. Be sure to respond quickly and take advantage of this tax relief. Shared by Dawn Delia #IRStaxrelief... #taxdebt #paymentplanagreements #IRStaxsettlement https://www.irs.gov//irs-makes-it-easier-to-set-up-payment See more

Don’t be afraid to open your IRS mail or worse, bury your head in the sand. You may have received a notice of audit examination. If you don’t act timely, you may have a certain disastrous outcome. Give yourself a chance against the IRS and respond. And be sure to hire a tax attorney to protect you and your rights in the IRS audit examination. Shared by Dawn Delia #IRSexamination... #IRSaudit #IRS #taxattorney #buryyourheadinthesand https://www.forbes.com//being-examined-by-the-irs--dont-/ See more

Good news for taxpayers. IRS agrees to stop sending out notices until the backlog of IRS mail is reduced. Be sure to start planning now for what you owe as notices will resume. Shared by Dawn Delia #IRSbacklog... #IRS #IRSnotices https://www.forbes.com//irs-says-it-will-stop-sending-ou/

If you were supposed to get a refund from your 2019 tax return and it was delayed, the IRS will be sending out interest payments this week. This applies to only individual taxpayers, not business taxpayers. Shared by Dawn Delia #interestpayments... #IRS #2019taxreturn #refund #individualtaxpayers https://www.forbes.com//irs-sending-tax-refund-interest-/

If you have just filed your 2019 tax return and can’t pay what you owe, one of your options is to get into a payment plan with the IRS. If you don’t, your tax debt will go into IRS collections in a matter of months which can lead to wage garnishments, bank levies and tax liens. Be sure to talk to a tax attorney for assistance. Shared by Dawn Delia #IRSpaymentplan... #wagegarnishments #taxliens #banklevies #IRScollections #2019taxreturn #DeliaLaw https://www.inc.com/ja/how-to-get-an-irs-payment-plan.html.

Starting in 2020, if you have a business that issues or receives a 1099 for compensation (for $600 or more), the IRS requires new form 1099-NEC to be filed by the payor. This filing is due February 1, 2021 for 2020 tax returns. Shared by Dawn Delia #1099NEC... #compensation #IRS #2020taxreturns #taxattorney https://www.irs.gov//how-to-report-nonemployee-compensatio

If you are in an IRS payment plan and suspended your payments due to Covid-19, your payments will resume after July 15th. If you can’t pay, be sure to contact a tax attorney to assess your other options. #July15th #IRSdeadline #IRSpaymentplan... #suspendedyourpayments #covid19 #taxattorney https://www.irs.gov//taxpayers-need-to-resume-payments-by-.

July 15th tax filing deadline is right around the corner. If you can’t pay what you owe to the IRS, be sure to file your 2019 tax return anyway to avoid the failure to file penalty. Shared by Dawn Delia #July15... #taxfilingdeadline #IRS #2019taxreturn #failuretofilepenalty https://www.irs.gov//taxpayers-should-file-on-time-even-if.

July 15th due date deadline will not be extended by the IRS for tax returns and estimated tax payments. If you can’t file on time, be sure to get an extension to October 15th. Be sure to timely pay an estimation of what you will owe by the due date to avoid the failure to pay penalty. Shared by Dawn Delia #July15th... #IRSdeadline #taxreturns #estimatedtaxpayments #extensiontofile #failuretopaypenalty https://abcnews.go.com//w/delays-july-15-deadline-71628395

Little silver liningIRS will pay interest due to late tax refunds, retroactive to April 15th. Shared by Dawn Delia #IRSlatetaxrefunds... #April15 #DeliaLaw https://www.forbes.com//irs-to-pay-interest-on-your-late/

IRS gears up to audit high-wealth taxpayers as of July 15th. Many high wealth audits will focus on partnerships and pass through entities. Be sure to connect with your tax professional and tax attorney to strategize and to ensure compliance. Delia Law is here to help with any tax problems you are facing or will face in the future. Shared by Dawn Delia #IRSaudit... #partnershipaudit #taxprofessional #taxattorney #DeliaLaw https://www.forbes.com//the-irs-intends-to-audit-more-hi/

IRS expands eligibility and the CARES Act is updated to allow more Americans to withdraw money from their retirement accounts due to Covid-19. Taxpayers can access up to $100k and the early withdrawal penalty of 10% will be waived for taxpayers under 59 1/2. New eligibility can expand beyond people with Covid-19 and can expand beyond a spouse. Shared by Dawn Delia #retirementaccounts... #waivewithdrawalpenalty #covid19 #caresact https://www.cnbc.com//irs-expands-eligibility-to-take-coro

These professionals have come up with some great tactics, strategies and opportunities to run your business after Covid-19. Some strategies include forming closer relationships with clients, exploring the new norm of the virtual office and re-evaluating technology needs. Shared by Dawn Delia #strategiesaftercoronavirus... #tacticsaftercovid19 #virtualoffice #technologyneeds #delialaw https://www.accountingtoday.com//12-strategies-for-having-

To help out with the tourism industry, look out for the proposed, Explore America Tax Credit. This credit would allow for $4,000 in vacation expenses through the end of 2021. Shared by Dawn Delia #tourismindustry... #exploreamericataxcredit #vacationexpenses https://www.forbes.com//will-a-4000-tax-credit-for-trave/