The IRS system is now accepting returns with direct debit dates beyond April 15th, 2020.

The IRS is still working to update their system to accommodate the new July 15th due date.  They are currently not accepting electronic returns with a direct debit date greater than April 15, 2020.  Once they update their systems, these returns can be electronically filed.

If you have a return that has gotten rejected because of the future direct debit date or you have returns that need to be filed with the future direct debit date you will need to hold these returns.  We recommend you create a tag so you can run a report to know which returns need to be filed once the IRS updates their systems.

Effective 3/23/2020 Until Further Notice

In an effort to provide the most effective support (telephone, chat, and email) and to take a proactive measure to restrict the spread of COVID-19 among our employees and community, we will be changing our weekend support hours of operation until further notice.  This allows us to provide social distancing for the well-being of our staff.

• Monday through Friday: 9:00am – 8:00pm Eastern time
• Saturday: 10:00am – 3:00pm Eastern time
• Sunday: Closed

Effective 3/16/2020 Until Further Notice

In an effort to provide the most effective support (telephone, chat, and email) and to take a proactive measure to restrict the spread of COVID-19 among our employees and community, we will be changing our support hours of operation until further notice.  This allows us to provide social distancing for the well-being of our staff.

• Monday through Friday: 9:00am – 8:00pm Eastern time
• Saturday/Sunday: 9:00am – 3:00pm Eastern time

As guidelines from the CDC change, we will continue to work with the IRS to make adjustments and to set expectations.  This is a challenging time for everyone and we appreciate the service you are providing to the taxpayers.

Tax Day now July 15: Treasury, IRS extend filing deadline and federal tax payments regardless of amount owed

WASHINGTON – The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020.

Taxpayers can also defer federal income tax payments due on April 15, 2020, to July 15, 2020, without penalties and interest, regardless of the amount owed. This deferment applies to all taxpayers, including individuals, trusts and estates, corporations and other non-corporate tax filers as well as those who pay self-employment tax.

Taxpayers do not need to file any additional forms or call the IRS to qualify for this automatic federal tax filing and payment relief.  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.

The IRS urges taxpayers who are due a refund to file as soon as possible. Most tax refunds are still being issued within 21 days.

“Even with the filing deadline extended, we urge taxpayers who are owed refunds to file as soon as possible and file electronically,” said IRS Commissioner Chuck Rettig. “Filing electronically with direct deposit is the quickest way to get refunds. Although we are curtailing some operations during this period, the IRS is continuing with mission-critical operations to support the nation, and that includes accepting tax returns and sending refunds. As a federal agency vital to the overall operations of our country, we ask for your personal support, your understanding – and your patience. I’m incredibly proud of our employees as we navigate through numerous different challenges in this very rapidly changing environment.”

The IRS will continue to monitor issues related to the COVID-19 virus, and updated information will be posted on a special coronavirus page on IRS.gov.

This announcement comes following the President’s emergency declaration last week pursuant to the Stafford Act. The Stafford Act is a federal law designed to bring an orderly and systematic means of federal natural disaster and emergency assistance for state and local governments in carrying out their responsibilities to aid citizens. It was enacted in 1988.

Treasury and IRS will issue additional guidance as needed and continue working with Congress, on a bipartisan basis, on legislation to provide further relief to the American people.

IRS released Notice 2020-18.
https://www.irs.gov/pub/irs-drop/n-20-18.pdf

Please make sure you check  your state specific deadlines.  Some have moved their deadlines, but some have not.

Enhancement Request:  268773 is now live in TaxSlayer Pro Online 2019

We have added an additional location for you to enter the taxpayer, spouse and dependent IRS Identity Protection PIN.   You can now enter them while you are in the Basic Information Section.

The Treasury Department and the Internal Revenue Service are providing special payment relief to individuals and businesses in response to the COVID-19 Outbreak. The filing deadline for tax returns remains April 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 April 15, 2020 deadline, the IRS reminds individual taxpayers that everyone is eligible to request a six-month extension to file their return.

This payment relief includes:

Individuals: Income tax payment deadlines for individual returns, with a due date of April 15, 2020, are being automatically extended until July 15, 2020, for up to $1 million of their 2019 tax due. This payment relief applies to all individual returns, including self-employed individuals, and all entities other than C-Corporations, such as trusts or estates. IRS will automatically provide this relief to taxpayers. Taxpayers do not need to file any additional forms or call the IRS to qualify for this relief.

Just to draw your attention:

The filing deadline for tax returns remains April 15, 2020. 

The IRS has identified a new version of a phishing email scam targeting tax professionals. The fake email states the preparer’s EFIN has been put on a temporarily hold and warns the EFIN will be suspended unless the preparers open an embedded document and confirm or deny that they submitted the Form 1040. The embedded “1040” document likely contains malware.

The IRS reminds all tax professionals that they are targets of cybercriminals seeking to steal client data or the practitioners’ identities. Thieves use many variations of phishing emails such as this. The fake emails are characterized by an urgent message (your EFIN will be suspended) and try to entice recipients to open a link or attachment. The IRS urges all tax professionals to be on alert and take security steps to protect their clients and their businesses. Review Publication 4557, Safeguarding Taxpayer Data, for how to be safer.

Notice 2020-17; Payment relief on account of Coronavirus Disease 2019 (COVID-19) emergency. The Treasury Department and IRS are extending the due date for Federal income tax payments due April 15, 2020, to July 15, 2020, for payments due of up to $10 million for corporations and up to $1 million for individuals – regardless of filing status – and other unincorporated entities. Associated interest, additions to tax, and penalties for late payment will also be suspended until July 15, 2020.

Notice 2020-17 will be in IRB 2020-15, dated April 6, 2020.

The IRS established a special webpage on IRS.gov/coronavirus to include all of the available tax-related information. This page will be updated as more information is available.

Treasury News Release:  Treasury and IRS Issue Guidance on Deferring Tax Payments Due to COVID-19 Outbreak