Uncle Sam is offering tax payers some relief by delaying the federal tax deadline to this summer, but you still need to double check when your state taxes are due.
The federal income tax filing deadline has been pushed to July 15 from April 15 to give Americans more breathing room in the wake of the coronavirus pandemic. More states are starting to push back their filing dates as well following massive layoffs and business closures. But some states still might require tax payers to file by different dates.
Quite a lot has been going on:
5 Tips to Help You Stay on Top of Your Taxes - Business 2 Community
Tax season can be pretty daunting for small business owners and freelancers. If you pay quarterly taxes , you may realize that you need to be more on top of your tax documents and track your business finances efficiently.
Now that the federal deadline for filing and paying 2019 taxes has been extended, you may be feeling a little relief but the clock is still ticking. Falling behind on your taxes years after year is all-too-easy when you're running a business. It can also be stressful if you're constantly pushing the federal deadline.
Governor considering whether to allow communities to waive interest on property taxes |
State and local officials suspect Rockingham County's proximity to some of the hardest hit counties in Massachusetts is a major contributing factor to Rockingham's high number of patients diagnosed with COVID-19.
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Convicted of defrauding his employer of millions, a former United Way vice president has asked a federal judge to let him out of jail because his compromised immune system makes him vulnerable to COVID-19.
CONCORD — Gov. Chris Sununu said he's called off education assessment tests because of the COVID-19 epidemic, saying parents and teachers already have enough challenges with remote learning and don't need any "onerous standardized tests from Washington."
What does the stimulus check mean for your taxes? | Coronavirus | dailylocal.com
The idea of sending checks directly to taxpayers is not a novel one. However it is gaining widespread attention as the Coronavirus Aid, Relief, and Economic Security (CARES) Act, proposes to direct payments to taxpayers under a newly revised Code section 6428. Below is an overview of how it all works and the impact of those payments on future tax years.
The stimulus check is not counted as taxable income. Instead, it acts as a credit against 2020 income taxes. This is similar to the previous two iterations of section 6428 that we saw during the Economic Growth and Tax Relief Reconciliation Act in 2001, as well as the Economic Stimulus Act just before the 2008 recession.
Were you following this:
With COVID-19 fallout, property owners get extra time to pay taxes
Kitsap County property owners hit by the economic impacts of the COVID-19 pandemic will be allowed an extra month to pay their taxes, Treasurer Meredith Green announced Monday.
Taxes are still due April 30, but anyone who can't pay by then can defer payments up to May 31 without being charged interest. The temporary measure applies to both residential and commercial taxpayers. It doesn't apply to people with delinquent taxes.
The fight against sales taxes on professional services goes on | Accounting Today
While West Virginia was the first state to enact a sales tax in 1921, the majority of states instituted sales taxes in the 1930s. At the time, tangible personal property comprised the sales tax base, and only later did some states add services. As the tax base of retail sales in the economy has shrunk while professional services has grown, a number of states have attempted to implement a sales tax on professional services.
Will college students get stimulus checks? | wfmynews2.com
"If a parent claims them as a dependent on their own personal tax return, then the student will not receive a stimulus check. To receive a check, a student needs to claim themselves and file a return," explains financial expert Scott Braddock .
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"They are putting everything on hold. So, if you owe back taxes, they are putting that on hold right now, so you will receive a stimulus check. The only debt they are still considering at this time to be impacted by not getting a stimulus check is back child support. If you owe back child support, you may not get a check."
Pelosi Floats New Stimulus Plan: Rolling Back SALT Cap – Getaka
A full rollback of the limit on the state and local tax deduction, or SALT, would provide a quick cash infusion in the form of increased tax rebates to an estimated 13 million American households — nearly all of which earn at least $100,000 a year.
In an interview with The New York Times, Ms. Pelosi said the next phase of an economic rescue package should include additional measures to get more money directly to individuals — like the $1,200 direct payments for low- and middle-income taxpayers that were authorized in the $2 trillion bill that President Trump signed on Friday.
Happening on Twitter
Pelosi's terrible idea: Retroactively raising the cap on State and Local Tax deductions. Retroactive tax deductions… https://t.co/uBbnZQXX3U JustinWolfers (from Ann Arbor, MI) Tue Mar 31 00:03:36 +0000 2020
Michiganders shouldn't have to worry about filing their income taxes in the midst of a global pandemic, so today, I… https://t.co/ScLQ9bmRyH GovWhitmer (from East Lansing, MI) Fri Mar 27 21:29:42 +0000 2020
Germany offers cash for everyone. The state will pay 60-67% of the foregone wages for the 2.15 million workers whos… https://t.co/ceimQSLRxE alfonslopeztena (from Catalonia) Sat Mar 28 13:25:11 +0000 2020
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