Tax news and guidance for individual taxpayers — filing tips, deductions, refunds, and everything else that hits your personal return.
It has long been the case that if you owe money, your federal income tax refund can be seized to satisfy your debt. Examples of federal debts that might trigger offsets include federal income tax delinquencies and student loan defaults. States can ask the Internal Revenue Service (IRS) to intercept, or offset, federal tax refunds…
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There’s still a lot of confusion about how to register for and track stimulus checks on the Internal Revenue Service (IRS) website. There are two tools, the non-filer tool and the Get My Payment tool, available on the website. The IRS has issued some additional guidance which clarifies how the tools can be used. Here’s how to…
(Update: On April 17, 2020, the IRS confirmed that vets would also receive their checks automatically.) The Internal Revenue Service (IRS) has confirmed that recipients of Supplemental Security Income (SSI) will automatically receive automatic Economic Impact Payments (that’s the official name, although most taxpayers refer to them as stimulus checks). The move required coordination among the Social…
As COVID-19 continues to impact the United States, the federal government is taking action to ease the burden on taxpayers. Most recently, as part of the CARES Act, the Treasury Department is sending out stimulus checks to most (but not all) Americans. Those stimulus checks are starting to hit bank accounts now, which is offering relief…
(Updated April 15, 2020: The new tool is up. More info in this story here.) Okay, I get it. I’m not brief. I’m a wordy girl. I like to be thorough. I’m a middle child and a lawyer: you do the math. I recently posted about a new web tool from the Treasury and the Internal Revenue Service (IRS) that…
(Updated: April 16, 2020) Many of you have written in to ask questions about stimulus checks. As of yesterday, I think I’ve replied to more than 900 of them… and still sorting through (please be patient). I’ve also written a bunch of pieces addressing some of the most commonly asked questions. If you have questions,…
(Updated: April 20, 2020) Last month, I wrote a primer on stimulus checks, and I’ve been updating it as I field your questions: thanks for asking! I thought it might be helpful to tackle some of the most commonly asked questions in a separate article. Here’s what you’ve been asking – along with my answers – regarding…
Whenever my kids want to know when I’m going to do something, I often answer, “Two minutes.” We both know it’s a lie, but if I have no real idea how long it will take, and they want an answer, any response keeps everybody happy. I suspect that we’re getting to that same place from…
There’s so much happening now. Here’s where you can find information on how COVID-19 is affecting tax returns and, of course, those stimulus checks. Got questions about stimulus checks? I’ve got answers. There are separate pieces for high school seniors and college students, as well as seniors (seniors piece is updated here). IRS has pushed…