The IRS confirmed this week that the 2020 tax season will start for individual tax return filers on Monday, Jan. 27. The deadline to file 2019 tax returns and pay any tax owed is Wednesday, April 15; and for those living abroad the filling deadline will be June 15th. As you very well know, we request for all our clients an extension to file until October 16th, 2020. More than 150 million individual tax returns for the 2019 tax year are expected to be filed, with the vast majority of those coming before the traditional April tax deadline.
“As we enter the filing season, taxpayers should know that the dedicated workforce of the IRS stands ready to help,” IRS Commissioner Chuck Rettig said. “We encourage taxpayers to plan ahead and use the tools and information available on IRS.gov. The IRS and the nation’s tax community are committed to making this another smooth filing season.”
New Gig Economy Tax Center: The IRS also this week launched a new Gig Economy Tax Center on IRS.gov to help people in this growing area meet their tax obligations. “The IRS developed this online center to help taxpayers in this emerging segment of the economy,” said IRS Commissioner Chuck Rettig. “Whether renting out a spare bedroom or providing car rides, we want people to understand the rules so they can stay compliant with their taxes and avoid surprises down the line.” The Gig Economy Tax Center streamlines various resources, making it easier for taxpayers to find information about the tax implications for the companies that provide the services and the individuals who perform them.
IRS Whistleblower Office Collects More than $616 Million: In fiscal year 2019, the Whistleblower Office made 181 awards to whistleblowers totaling over $120 million (before sequestration). This amount included 24 awards under section 7623(b) of the Internal Revenue Code. Proceeds totaled more than $616 million. To learn more, read the 2019 Annual Report to Congress.