Special $300 Tax Deduction Helps Most People Give to Charity This Year – Even If They Don’t Itemize

The Internal Revenue Service reminds taxpayers of a special new provision that will allow more people to easily deduct up to $300 in donations to qualifying charities this year.

Following special tax law changes made earlier this year, cash donations of up to $300 made before Dec. 31, 2020, are now deductible when people file their taxes in 2021.

Here’s What Taxpayers Can Do Now to Get Ready to File Taxes in 2021

There are steps people can take now to make sure their tax filing experience goes smoothly in 2021. First, they can visit the Get Ready page on IRS.gov.

Here are a few other things people can do now:

Check their withholding and make any adjustments soon

Since most taxpayers typically only have a few pay dates left this year, checking their withholding soon is especially important. It’s even more important for those who:

Taxpayer Relief Initiative Aims to Help Those Financially Affected by COVID-19

The IRS reviewed its collection activities to see how it could provide relief for taxpayers who owe taxes but are struggling financially because of the pandemic. The agency is expanding taxpayer options for making payments and other ways to resolve tax debt.

Taxpayers who owe taxes always had options to get help through payment plans and other tools from the IRS. The new IRS Taxpayer Relief Initiative is expanding on those tools.

IRS Makes It Easier to Set Up Payment Agreements – Offers Other Relief to Taxpayers Struggling With Tax Debts

The Internal Revenue Service today announced a number of changes designed to help struggling taxpayers impacted by COVID-19 more easily settle their tax debts with the IRS.

The IRS assessed its collection activities to see how it could apply relief for taxpayers who owe but are struggling financially because of the pandemic, expanding taxpayer options for making payments and alternatives to resolve balances owed.

People Experiencing Homelessness May Qualify for an Economic Impact Payment (COVID Tax Tip)

People experiencing homelessness may be eligible for a $1,200 Economic Impact Payment and $500 for each qualifying child under age 17. To get this payment, they must register with the IRS by Saturday, Nov. 21, 2020.

If someone’s income is below $12,200, or $24,400 if they’re married, they probably don’t file a tax return. That means the IRS may not have enough information to issue their payment.

IRS Extends Economic Impact Payment Deadline to Nov. 21 to Help Non-filers

The Internal Revenue Service announced today that the deadline to register for an Economic Impact Payment (EIP) is now Nov. 21, 2020. This new date will provide an additional five weeks beyond the original deadline.

The IRS urges people who don’t typically file a tax return – and haven’t received an Economic Impact Payment – to register as quickly as possible using the Non-Filers: Enter Info Here tool on IRS.gov. The tool will not be available after Nov. 21.

IRS Highlights Employer Credits for Businesses During Small Business Week

During Small Business Week, the Internal Revenue Service reminds business owners and self-employed individuals of the employer credits available to them during COVID-19.

These credits were specially created to help small business owners during this unprecedented time. During Small Business Week, the IRS wants to ensure all eligible people know about the relief these credits provide.

Taxpayers Need to Resume Payments by July 15

The IRS today reminds taxpayers who took advantage of the People First Initiative tax relief and did not make previously owed tax payments between March 25 to July 15 that they need to restart their payments.

As the IRS continues to reopen its operations across the country, taxpayers who were in payment agreements and skipped any payments from March 25 and July 15 should start paying again to avoid penalties and possible default on their agreements.

Taxpayers Should File by July 15 Tax Deadline – Automatic Extension to Oct. 15 Available (IR-2020-134)

The Department of the Treasury and IRS announced the tax filing and payment deadline of July 15 will not be postponed. Individual taxpayers unable to meet the July 15 due date can request an automatic extension of time to file until Oct. 15.

Due to COVID-19, the original filing deadline and tax payment due date for 2019 was postponed from April 15 to July 15.

Relief for Taxpayers Affected by COVID-19 Who Take Distributions or Loans from Retirement Plans (IR-2020-124)

The Internal Revenue Service released Notice 2020-50 (PDF) to help retirement plan participants affected by the COVID-19 coronavirus take advantage of the CARES Act provisions providing enhanced access to plan distributions and plan loans.  This includes expanding the categories of individuals eligible for these types of distributions and loans (referred to as “qualified individuals”) and providing helpful guidance and examples on how qualified individuals will reflect the tax treatment of these distributions and loans on their federal income tax filings.

IRS Reminder: File Now, Choose Direct Deposit or Schedule Tax Payments Electronically Before the July 15 Deadline (IR-2020-118)

As the July 15 tax-filing deadline − postponed from April 15 − draws near, the Internal Revenue Service is reminding all taxpayers who have yet to file their 2019 federal tax return to file electronically now, choose direct deposit for their refund, or pay any tax owed electronically.

Taxpayers who owe for tax year 2019 or need to pay 2020 estimated taxes originally due for the first quarter on April 15 or the second quarter on June 15 can schedule an electronic payment up to the July 15 due date.

IRS Reminder: June 15 Tax Deadline Postponed to July 15 for Taxpayers Who Live and Work Abroad (IR-2020-109)

The Internal Revenue Service today reminded people who live and work abroad that they have until Wednesday, July 15, 2020, to file their 2019 federal income tax return and pay any tax due. The usual deadline is June 15.

The additional time was included in a wide range of Coronavirus-related relief announced in early April. The postponement generally applies to all taxpayers who have an income tax filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020.

Economic Impact Payments Being Sent by Prepaid Debit Cards, Arrive in Plain Envelope – IRS Answers FAQ (IR-2020-105)

As Economic Impact Payments continue to be successfully delivered, the Internal Revenue Service today reminds taxpayers that some payments are being sent by prepaid debit card. The debit cards arrive in a plain envelope from “Money Network Cardholder Services.”

Nearly 4 million people are being sent their Economic Impact Payment by prepaid debit card, instead of paper check. The determination of which taxpayers received a debit card was made by the Bureau of the Fiscal Service, a part of the Treasury Department that works with the IRS to handle distribution of the payments.

Treasury is Delivering Millions of Economic Impact Payments by Prepaid Debit Card

This week, Treasury and the IRS are starting to send nearly 4 million Economic Impact Payments (EIPs) by prepaid debit card, instead of by paper check. EIP Card recipients can make purchases, get cash from in-network ATMs, and transfer funds to their personal bank account without incurring any fees. They can also check their card balance online, by mobile app, or by phone without incurring fees. The EIP Card can be used online, at ATMs, or at any retail location where Visa is accepted. This free, prepaid card also provides consumer protections available to traditional bank account owners, including protections against fraud, loss, and other errors.

Treasury, IRS Release Latest State-by-state Economic Impact Payment figures (IR-2929-91)

The Treasury Department and the Internal Revenue Service released updated state-by-state figures for Economic Impact Payments, with approximately 130 million individuals receiving payments worth more than $200 billion in the program’s first four weeks.

“We are working hard to continue delivering these payments to Americans who need them,” said IRS Commissioner Chuck Rettig. “The vast majority of payments have been delivered in record time, and millions more are on the way every week. We encourage people to visit IRS.gov for the latest information, FAQs and updates on the payments.”

Act by Wednesday for Chance to Get Quicker Economic Impact Payment – Timeline for Payments Continues to Accelerate (IR-2020-92)

With a variety of steps underway to speed Economic Impact Payments, the Treasury Department and the Internal Revenue Service urged people to use Get My Payment by noon Wednesday, May 13, for a chance to get a quicker delivery.

The IRS, working in partnership with Treasury Department and the Bureau of Fiscal Services (BFS), continues to accelerate work to get Economic Impact Payments to even more people as soon as possible. Approximately 130 million individuals have already received payments worth more than $200 billion in the program’s first four weeks.

Economic Impact Payments Continue to Be Sent – Check IRS.gov for Answers to Common Questions (IR-2020-85)

As Economic Impact Payments continue to be successfully delivered, the Internal Revenue Service today reminds taxpayers that IRS.gov includes answers to many common questions, including help to use two recently launched Economic Impact Payment tools. The IRS is regularly updating the Economic Impact Payment and the Get My Payment tool frequently asked questions pages on IRS.gov as more information becomes available.

Tools to Help People Get Their Economic Impact Payment (COVID: Tax Tip 2020-48)

The IRS has two tools to help millions of taxpayers with their Economic Impact Payment. The payments are $1,200 per eligible person and up to $500 for each qualifying child.

The first tool, Non-filers: Enter Payment Info Here is available – in English and Spanish – for certain taxpayers who don’t normally need to file a return. This free tool allows them to enter basic information so the IRS can issue their payment. The second tool, Get My Payment, allows people to check the status of their payment and provide bank account information if a payment has not been scheduled for delivery.

Use IRS Non-Filers Tool to Get Economic Impact Payment – Many Low-income, Homeless Qualify (IR-2020-83)

The Internal Revenue Service today reminds low-income Americans to use the free, online tool Non-Filers: Enter Payment Info to quickly and easily register to receive their Economic Impact Payment. The IRS has recently released a new Spanish language version of the tool to help even more Americans get their money quickly and easily.

IRS Enhances Get My Payment Online Application to Help Taxpayers (IR-2020-82)

The Internal Revenue Service today announced significant enhancements to the “Get My Payment” tool to deliver an improved and smoother experience for Americans eligible to receive Economic Impact Payments.

The enhancements, which started last week and continued through the weekend, adjusted several items related to the online tool, which debuted on April 15. The additional changes will help millions of additional taxpayers with new or expanded information and access to adding direct deposit information.

VA, SSI Recipients with Eligible Children Need to Act by May 5 to Quickly Add Money to Their Automatic Economic Impact Payment (IR-2020-81)

The Internal Revenue Service today issued a special alert for Supplemental Security Income and Department of Veterans Affairs beneficiaries to act by May 5 if they didn’t file a tax return in 2018 or 2019 and have dependents so they can quickly receive the full amount of their Economic Impact Payment.

Treasury, IRS Deliver 88 Million Economic Impact Payments in First 3 Weeks – Release State-by-State Economic Impact Payment Figures (IR-2020-80)

The Treasury Department and the Internal Revenue Service today released state-by-state figures for Economic Impact Payments, with 88 million individuals receiving payments worth nearly $158 billion in the program’s first three weeks.

As of April 17, the IRS issued 88.1 million payments to taxpayers across the nation. More payments are continuing to be delivered each week.

Questions About Economic Impact Payments (COVID Tax Tip 2020-44)

The IRS is issuing Economic Impact Payments. These payments are being issued automatically for most individuals. However, some people who don’t usually file a tax return will need to submit basic information to the IRS to receive their payment.

Questions? The IRS is regularly updating the Economic Impact Payment and the Get My Payment tool frequently asked questions pages on IRS.gov as more information becomes available. Here are answers to some of the most common questions.

Treasury, IRS Unveil Online Application to Help with Economic Impact Payments

Working with the Treasury Department, the Internal Revenue Service today unveiled the new Get My Payment with features to let taxpayers check on their Economic Impact Payment date and update direct deposit information.

With an initial round of more than 80 million Economic Impact Payments starting to hit bank accounts over the weekend and throughout this week, this new tool will help address key common questions. Get My Payment will show the projected date when a deposit has been scheduled, similar to the “Where’s My Refund tool” many taxpayers are already familiar with.

Treasury, IRS Launch New Tool to Help Non-filers Register for Economic Impact Payments (IR-2020-69)

IRS.gov feature helps people who normally don’t file get payments; second tool next week provides taxpayers with payment delivery date and provide direct deposit information. To help millions of people, the Treasury Department and the Internal Revenue Service today launched a new web tool allowing quick registration for Economic Impact Payments for those who don’t normally file a tax return.

IRS Extends More Tax Deadlines to Cover Individuals, Trusts, Estates, Corporations and Others (IR-2020-66)

To help taxpayers, the Department of Treasury and the Internal Revenue Service announced today that Notice 2020-23 extends additional key tax deadlines for individuals and businesses. Last month, the IRS announced that taxpayers generally have until July 15, 2020, to file and pay federal income taxes originally due on April 15. No late-filing penalty, late-payment penalty or interest will be due.