Tax filing deadline is coming up: What to do if you need more time

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Tax filing deadline is coming up: What to do if you need more time

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May 4, 2021 , ,

tax filing deadline

“Tax day” is just around the corner. This year, the deadline for filing 2020 individual tax returns is Monday, May 17, 2021. The IRS postponed the usual April 15 due date due to the COVID-19 pandemic. If you still aren’t ready to file your return, you should request a tax-filing extension. Anyone can request one and in some special situations, people can receive more time without even asking.

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Why it’s important to meet the tax return filing and payment deadlines

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April 27, 2021 , , , ,

tax return filing

The May 17 deadline for filing your 2020 individual tax return is coming up soon. It’s important to file and pay your tax return on time to avoid penalties imposed by the IRS. Here are the basic rules.

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Unemployed last year? Buying health insurance this year? You may benefit from favorable new changes

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April 20, 2021 , , , ,

unemployment tax

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Infographic: Simple steps that help foil cybercriminals.

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April 18, 2021 ,

Avoid Cybercriminals

Home sales: How to determine your “basis”

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April 13, 2021 ,

home sale basis

The housing market in many parts of the country is strong this spring. If you’re buying or selling a home, you should know how to determine your “basis.”

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Who qualifies for “head of household” tax filing status?

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April 6, 2021 , ,

head of household

When you file your tax return, you must check one of the following filing statuses: Single, married filing jointly, married filing separately, head of household or qualifying widow(er). Who qualifies to file a return as a head of household, which is more favorable than single?

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How to ensure life insurance isn’t part of your taxable estate

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March 30, 2021 , , , , ,

taxable life insurance

If you have a life insurance policy, you may want to ensure that the benefits your family will receive after your death won’t be included in your estate. That way, the benefits won’t be subject to federal estate tax.

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American Rescue Plan Act: Parents and other eligible Americans to receive direct payments

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March 16, 2021 , , ,

American Rescue Plan Act

The American Rescue Plan Act, signed into law on March 11, provides a variety of tax and financial relief to help mitigate the effects of the COVID-19 pandemic. Among the many initiatives are direct payments that will be made to eligible individuals. And parents under certain income thresholds will also receive additional payments in the coming months through a greatly revised Child Tax Credit.

Here are some answers to questions about these payments.

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The latest on COVID-related deadline extensions for health care benefits

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March 13, 2021 , ,

covid health care benefits

The U.S. Department of Labor (DOL) recently issued EBSA Disaster Relief Notice 2021-01, which is of interest to employers. It clarifies the duration of certain COVID-19-related deadline extensions that apply to health care benefits plans.

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Estimated tax payments:

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March 9, 2021 , ,

estimated taxes

The deadline for the first 2021 installment is coming up.

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