HERE’S WHO QUALIFIES A TAXPAYER FOR THE CHILD AND DEPENDENT CARE CREDIT

IRS Tax Tip 2020-68, June 10, 2020 Childcare or adult dependent care can be a major expense. Fortunately, the child and dependent care credit can provide some relief. Taxpayers who pay for daycare expenses may be eligible to claim up to 35% of what they spend; limits apply. For the purposes of this credit, the …

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IRS WARNS AGAINST COVID-19 FRAUD; OTHER FINANCIAL SCHEMES

IR-2020-115, June 8, 2020   WASHINGTON — The Internal Revenue Service today reminded taxpayers to guard against tax fraud and other related financial scams related to COVID-19.   In the last few months, the IRS Criminal Investigation division (CI) has seen a variety of Economic Impact Payment (EIP) scams and other financial schemes looking to …

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IRS: JULY 15 TAX PAYMENT DEADLINE APPROACHING; PLAN ON SCHEDULING MULTIPLE PAYMENTS NOW

IR-2020-131, June 26, 2020 WASHINGTON ― As the 2019 tax filing and payment deadline approaches, the IRS reminds taxpayers and businesses that 2019 income tax liabilities as well as postponed April 15 and June 15, 2020 estimated tax payments are due July 15, 2020. This postponement provided temporary tax relief in response to the COVID 19 pandemic. …

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