A and S Tax Service

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IRS News: IRS to recalculate taxes on unemployment benefits; refunds to start in May WASHINGTON To help taxpayers, the Internal Revenue Service announced today that it will take steps to automatically refund money this spring and summer to people who filed their tax return reporting unemployment compensation before the recent changes made by the American Rescue Plan. ...Continue reading

https://www.irs.gov//irs-statement-american-rescue-plan-ac

Economic Injury Disaster Loans Today In: Personal Finance The Small Business Administration’s (SBA) Economic Injury Disaster Loans (EIDLs) are the first line of support. These loans aren’t new. They’ve always been available in the event of disaster. However, according to Alex Contreras, Director of Preparedness, Communication, & Coordination at the Office of Disaster Assistance for the SBA, this is the first time a virus or pandemic event has been defined as a disaster. In...Continue reading

F.A.Q. on Stimulus Checks, Unemployment and the Coronavirus Bill The Senate relief bill would send money to Americans and greatly expand unemployment coverage. Credit...Robert Neubecker Tara Siegel BernardRon Lieber...Continue reading

https://www.usatoday.com//how-much-tax-withhold/384194002/

Feb 7 ...Continue reading

(CNN)Congressional lawmakers are putting the finishing touches on a $2 trillion stimulus bill to respond to the coronavirus pandemic, with cash and assistance for regular Americans, Main Street businesses and hard-hit airlines and manufacturers, among others. CNN reporters are reading through the draft legislation. Here's a running list of highlights: Direct payments to individuals Under the plan as it was being negotiated, single Americans would receive $1,200, married coupl...Continue reading

IRS tax filing deadline moved back until July 15, Mnuchin says Posted: 8:17 AM, Mar 20, 2020 Updated: 10:17 AM, Mar 20, 2020 By: Alex Hider items.[0].image.alt Treasury Sec. Steve Mnuchin said Friday that the IRS is moving the tax filing deadline from April 15 to July 15.... Mnuchin made the announcement on Twitter, saying the move came at the direction of President Donald Trump. "All taxpayers and businesses will have this additional time to file and make payments without interest or penalties," Mnuchin said. This story is breaking and will be updated. Steven Mnuchin @stevenmnuchin1 At @realDonaldTrump’s direction, we are moving Tax Day from April 15 to July 15. All taxpayers and businesses will have this additional time to file and make payments without interest or penalties.

Per the Protecting Americans from Tax Hikes (PATH) Act, the IRS cannot issue refunds before mid-February for returns that contain Earned Income Credit (EIC) and/or Additional Child Tax Credit (ACTC). The IRS will start processing these returns on February 18th with the projected deposit dates starting on February 24th. Taxpayers should check Where's My Refund or the IRS2Go app for their personal refund date.

https://www.irs.gov/paycheck-checkup

Enhanced STAR Income Verification Program Beginning in 2019, property owners age 65 and over who are applying for or renewing their Enhanced STAR property tax exemption, must enroll in the Income Verification Program (IVP). Rather than renewing their exemption with the assessor and providing the assessor with their income tax returns, IVP participants will have their income confirmed by our department. In addition, those receiving the senior citizen’s exemption must apply for... Enhanced STAR separately. Property owners who are already enrolled in the IVP or who are receiving the Basic STAR exemption, do not need to take any action. See more