IRS has upheld the due date of July 15th for personal returns. Extensions can be filed which will give you until October 15th to file. Payments of tax are still due 7/15/2020.
From the IRS:
A45. Some payments may be sent on a prepaid debit card known as The Economic Impact Payment Card The Economic Impact Payment Card is sponsored by the Treasury Department’s Bureau of the Fiscal Service, managed by Money Network Financial, LLC and issued by Treasury’s financial agent, MetaBank®, N.A.
If you receive an Economic Impact Payment Card, it will arrive in a plain envelope from “Money Network Cardholder Services.” The Visa name will appear on the front of the Card; the back of the Card has the name of the issuing bank, MetaBank®, N.A. Information included with the Card will explain that the card is your Economic Impact Payment Card. Please go to EIPcard.com for more information.
FRAUD ALERT!!!!
Taxpayers are now receiving "Stimulus Payment" debit cards with oddball amounts with instructions to deposit into their bank accounts. Several have had the names on the card incorrect as well! Many of whom have already received their stimulus payments via direct deposit. Warn your friends and family that they may become a victim of fraud if they use these cards. Always verify with the IRS directly before utilizing this form of payment!
If you receive a stimulus payment for someone who is deceased, IRS is now asking you to return it. See instructions here: https://www.irs.gov/taxtopics/tc161?fbclid=IwAR0AfXlFnLMunJPOBu-C6R2noaoCoxACxNqisjgHGOLa7l4Q7mipidxqgEc
IRS.GOV
Topic No. 161 Returning an Erroneous Refund – Paper Check or Direct Deposit | Internal Revenue Service
If you did not do direct deposit on your 2019 return, you will probably get your stimulus payment by mail. Here is the proposed timeline of those payments.
https://www.forbes.com/sites/zackfriedman/2020/04/21/stimulus-checks-schedule/?fbclid=IwAR38z2sUpCAUWeNClWeEX8y4msmyfZv_POV918dfxJl4hI7JjCL_UIaPiRU#647d1b637b84
FORBES.COM
Here’s Exactly When You’ll Get Your Stimulus Check
Thursday is the official end of tax season for those who filed an extension. Not done with one season and we're already gearing up for the next one!!
It's not too late for a mid-year review, either in person or over the phone. Please give us a call if your circumstances have changed: new job, new marriage or divorce, new baby or kids have moved out.
Watch for our first of the year mailing, we will be doing things differently during tax season due to Covid.
Due to the increased cases of Covid and the fact that it has impacted some of our families, we are taking a step back. Someone will be in the office most days but we are seeing clients by appointment only when necessary. Please call first if you need to come in. Even if not here, we are always available. There is a cell number on our answering machine if you can't reach us here. Everyone, stay safe and we'll post more about tax season as we navigate these strange times.
Due to the Stay Home order given by Governor Whitmer we will be closed from Wednesday, November 18th, 2020 until December 9th, 2020. We will be working from home and still be available to assist you with any of your tax or financial questions or needs. Please do not hesitate to reach out to any of us at the emails listed below.
Thank you,
Advantage Tax and Financial Team
Linda@advantagetaxservice.net
Jenni@advantagetaxservice.net
Andrew@advantagetaxserice.net
Our office adopted a family today. Merry Christmas to you and yours.
Ashley’s Angels
December 19 at 6:47 PM ·
Thank you Linda and everyone else involved! Merry Christmas
We received information today that e-filing of 2020 returns will be open February 12. We will begin doing returns at the end of January. IRS will not process refunds for people who receive an earned income credit until March 1. If you are an early filer, please get your info in early so your return is ready to file when they open,
We are limiting face to face meetings this tax season. We encourage you to drop off, mail or upload your documents. Be sure to fill out the organizer that we mailed out (or call to request one). Please call if you need help with our new processes.
We are working hard to keep us all safe and healthy.
Lonna R Weems Life Insurance Agent
January 22 at 3:36 AM ·
MESSENGER
Advantage Tax & Financial Services updated their business hours.
