Again, I have to veer from blogging about taxes and blog about something that is all over the news. The rush on toilet paper... yes, I am blogging about toilet paper. Many articles are posted in our media at the moment about the corona virus. Silly memes being posted on social media making fun of [...]
The Internal Revenue Service is encouraging taxpayers to take control of the size of their refund using the Tax Withholding Estimator on IRS.gov. The estimator has a "slider" feature to let users to choose the refund they want from a range of amounts based on the information they enter. The feature helps taxpayers set their withholding to [...]
The Internal Revenue Service has updated two comprehensive publications designed to help anyone making IRA contributions or receiving IRA distributions for tax year 2019 or considering making retirement donations before April 15, 2020. The 2019 editions of Publication 590-A, Contributions to Individual Retirement Arrangements (IRAs) and Publication 590-B, Distributions from Individual Retirement Arrangements (IRAs), are both now available [...]
Typically, I would blog about taxes, since that is what we do here at Packey Law Corporation. However, with the spread of the Coronavirus across the globe, it is no wonder why people are concerned. Our economy has been affected, our social norms are affected, and filing tax returns have decreased in the past couple [...]
Injured Spouse Claim If you filed a joint return and you're not responsible for your spouse's debt, you're entitled to request your portion of the refund back from the IRS. You may file a claim for this amount by filing Form 8379, Injured Spouse Allocation (PDF). You may file Form 8379 in any of the [...]
The Department of Treasury's Bureau of the Fiscal Service (BFS) issues IRS tax refunds and Congress authorizes BFS to conduct the Treasury Offset Program (TOP). Through the TOP program, BFS may reduce your refund (overpayment) and offset it to pay: Past-due child support; Federal agency non-tax debts; State income tax obligations; or Certain unemployment compensation debts owed [...]
Payroll taxes can be confusing. There are federal payroll taxes and state payroll taxes. Each entity having their own tax forms. Federal Form 941 are the quarterly reports. For the state of California DE9 and DE9C are also due quarterly. Federal Form 940, known as FUTA (Federal Unemployment Tax Act) which is due at the [...]
The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning April 1, 2020. The rates will be: five (5) percent for overpayments [four (4) percent in the case of a corporation]; two and one-half (2.5) percent for the portion of a corporate overpayment exceeding $10,000; five (5) [...]
The Internal Revenue Service reminds taxpayers that it is processing tax returns claiming benefits extended or changed by recent legislation. Most taxpayers can file when they are ready – and as they normally would – if they are eligible for one or more of these benefits and claim them on their 2019 federal tax return. [...]
Over the years, the IRS, FTB, and EDD have done wonders in improving their websites. Although the state tax entities such as FTB and EDD have excelled in their websites, IRS is not far behind with the upgrades and tools available for taxpayers. Whether on home computers or mobile devices, the number of taxpayer visits [...]