$50 OFF ALL 2019 TAX RETURNS UNTIL OCTOBER 15, 2020
Get your taxes prepared by an experienced team!
Get your taxes prepared by an experienced team!
Our family-owned accounting service has been serving the community for the last 25 years. Our team has grown and includes experienced CPAs and dedicated support to provide both personal and professional financial services.
Professional and Experienced:
Scott D. Sanzone, is the President and Founder of Sanzone Tax and Accounting, LLC. Mr. Sanzone started the business after graduating college from the University of Maryland, College Park, over 25 years ago. Mr. Sanzone has also served as the Chief Financial Officer, Corporate Controller and Vice President of
Professional and Experienced:
Scott D. Sanzone, is the President and Founder of Sanzone Tax and Accounting, LLC. Mr. Sanzone started the business after graduating college from the University of Maryland, College Park, over 25 years ago. Mr. Sanzone has also served as the Chief Financial Officer, Corporate Controller and Vice President of Finance for several national and local firms. Mr. Sanzone's experience will help provide you with incredible customer service, expertise and knowledge.
For a more detailed biography please visit LinkedIn at https://www.linkedin.com/in/scott-sanzone-4611821/
IRS reminds taxpayers who filed an extension that the Oct. 15 due date approaches
File and pay electronically, request direct deposit for refunds IR-2020-213, September 16, 2020 WASHINGTON –
The Internal Revenue Service today reminds taxpayers who filed an extension that the October 15 due date to file 2019 tax returns is approaching. Taxpayers should complete their tax returns and file on or before the October 15 deadline. Convenient electronic filing options, including IRS Free File, are still available. Taxpayers and tax professionals should continue to use electronic options to support social distancing and speed the processing of tax returns, refunds and payments. Although October 15 is the last day for most people to file, some taxpayers may have more time. They include: Members of the military and others serving in a combat zone. They typically have 180 days after they leave the combat zone to file returns and pay any taxes due. Taxpayers in federally declared disaster areas who already had valid extensions. For details, see the disaster relief page on IRS.gov. Taxpayers who did not request an extension and have yet to file a 2019 tax return can generally avoid additional penalties and interest by filing the return as soon as possible and paying any taxes owed.
Choose direct deposit for refunds
The safest and fastest way for taxpayers to get their refund is to have it electronically deposited into their bank or other financial account. Taxpayers can use direct deposit to deposit their refund into one, two or even three accounts. Direct deposit is much faster than waiting for a paper check to arrive in the mail. After filing, use the Where's My Refund? tool on IRS.gov or download the IRS2Go mobile app to track the status of a refund.
Schedule federal tax payments electronically
Taxpayers who filed an extension can file now and schedule their federal tax payments up to the Oct. 15 due date. They can pay online, by phone or with their mobile device and the IRS2Go app. When paying federal taxes electronically taxpayers should remember:
Economic Impact Payments-Non-Filers can still get one; must act by October 15
Though most Americans − more than 160 million in all − have already received their Economic Impact Payments, the IRS reminds anyone with little or no income who is not required to file a tax return that they may be eligible to receive an Economic Impact Payment.
Available in both English and Spanish, the Non-Filers tool on IRS.gov is designed for people with incomes typically below $24,400 for married couples, and $12,200 for singles. This includes couples and individuals who are experiencing homelessness. People must enter their information by October 15 to get a payment this year.
People can qualify for a payment, even if they don't work or have no earned income. But low- and moderateincome workers and working families eligible to receive special tax benefits, such as the Earned Income Tax Credit or Child Tax Credit, cannot use this tool.
They will need to file a regular return as soon as possible. The IRS will use their tax return information to determine and issue any EIP for which they are eligible.
Taxpayers may find answers to many of their questions using the Interactive Tax Assistant (ITA), a tax law resource that works using a series of questions and responses. IRS.gov has answers for Frequently Asked Questions. The IRS website has tax information in: Spanish (Español); Chinese (中文); Korean (한국어); Russian (Pусский); Vietnamese (Tyng Việt); and Haitian Creole (Kreyòl ayisyen). Go to IRS.gov/payments for electronic payment options. Page Last Reviewed or Updated: 16-Sep-2020
1040-X Electronic Filing
Cross References • IR-2020-182, August 17, 2020
Marking a major milestone in tax administration, the Internal Revenue Service has announced that taxpayers can now submit Form 1040-X electronically with commercial tax-filing software.
As IRS e-filing has grown during the past 30 years, Form 1040-X, Amended U.S. Individual Income Tax Return, has been one of the last major individual tax forms that needed to be paper filed. The announcement follows years of effort by the IRS, and the enhancement allows taxpayers to quickly electronically correct previously filed tax returns while minimizing errors.
“The ability to file the Form 1040-X electronically has been an important long-term goal of the IRS e-file initiative for many years,” said Sunita Lough, IRS Deputy Commissioner for Services and Enforcement. “Given the details needed on the form, there have been numerous challenges to add this form to the e-file family. Our IT and business operation teams worked hard with the nation’s tax industry to make this change possible. This is another success for IRS modernization efforts. The addition helps taxpayers have a quicker, easier way to file amended returns, and it streamlines work for the IRS and the entire tax community.”
Making the 1040-X an electronically filed form has been a goal for the tax software and tax professional industry for years. It’s been a continuing recommendation from the Internal Revenue Service Advisory Council (IRSAC) and Electronic Tax Administration Advisory Committee (ETAAC).
Currently, taxpayers must mail a completed Form 1040-X to the IRS for processing. The new electronic option allows the IRS to receive amended returns faster while minimizing errors normally associated with manually completing the form.
Since the tax-filing software allows users to input their data in a question-answer format, it simplifies the process for them. It also makes it easier for IRS employees to answer taxpayer questions since the data is entered electronically and submitted to the agency almost simultaneously.
“Adding the 1040-X to the e-filing portfolio provides a better experience for the taxpayer, all around. It makes submitting an amended return easier and it allows our employees to process it in a more efficient way,” said Ken Corbin, the IRS Wage and Investment commissioner and head of the division responsible for processing these returns.
For the initial phase, only tax year 2019 Forms 1040 and 1040-SR returns can be amended electronically. Additional improvements are planned for the future.
About three million Forms 1040-X are filed by taxpayers each year.
Taxpayers still have the option to submit a paper version of the Form 1040-X and should follow the instructions for preparing and submitting the paper form. Those filing their Form 1040-X electronically and on paper can use the Where’s My Amended Return? online tool at www.irs.gov to check the status of their amended return.
Strange & Unusual Taxes Throughout History
Other Unusual Taxes
Filing and Payment Deadline Extended to July 15, 2020 - Updated Statement
March 21, 2020
The Treasury Department and the Internal Revenue Service are providing special tax filing and payment relief to individuals and businesses in response to the COVID-19 Outbreak. The filing deadline for tax returns has been extended from April 15 to July 15, 2020. The IRS urges taxpayers who are owed a refund to file as quickly as possible. For those who can't file by the July 15, 2020 deadline, the IRS reminds individual taxpayers that everyone is eligible to request an extension to file their return.
The 2019 income tax filing and payment deadlines for all taxpayers who file and pay their Federal income taxes on April 15, 2020, are automatically extended until July 15, 2020. This relief applies to all individual returns, trusts, and corporations. This relief is automatic, taxpayers do not need to file any additional forms or call the IRS to qualify.
This relief also includes estimated tax payments for tax year 2020 that are due on April 15, 2020.
Penalties and interest will begin to accrue on any remaining unpaid balances as of July 16, 2020. You will automatically avoid interest and penalties on the taxes paid by July 15.
Individual taxpayers who need additional time to file beyond the July 15 deadline can request a filing extension by filing Form 4868 through their tax professional, tax software or using the Free File link on IRS.gov. Businesses who need additional time must file Form 7004.
This relief only applies to federal income returns and tax (including tax on self-employment income) payments otherwise due April 15, 2020, not state tax payments or deposits or payments of any other type of federal tax. Taxpayers also will need to file income tax returns in 42 states plus the District of Columbia. State filing and payment deadlines vary and are not always the same as the federal filing deadline. The IRS urges taxpayers to check with their state tax agencies for those details. More information is available at https://www.taxadmin.org/state-tax-agencies.
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