Producer host Julia Dudley Najieb features experts from the IRS giving the latest changes for tax filings, how to file if one received unemployment insurance, tax breaks and tax advancements.
Struggling to meet the April 15 tax filing deadline? Then take note of the IRS's new tax filing deadline of May 17 for individuals, the self-employed and for those who do not owe the IRS for past due tax payments.
In this episode of News Too Real, producer host, Julia Dudley Najieb addresses the recent changes for those filing their 2020 taxes; not only has the tax-deadline been extended, but the American Rescue Plan has instilled new provisions regarding the Earned Income Tax Credit where people can take out advanced payments for 2021 tax filing of Earned Income Tax Credit.
Also, people who have taken out unemployment insurance, IRA/ROTH IRA or early retirement have some leeway, safeguards and revisions with use of the "hardship" waiver, if qualified.
Unfortunately, many scammers are using different web URLs with the name "IRS," or calling people to threaten payment on behalf of the IRS; this topic is addressed due to its extreme frequency. The IRS would like everyone to know that they will never pick up the phone and call anyone about a past due tax payment, nor will they call authorities on you if you do not make the payments on time; they will send reminder through the US mail.
Finally, find out what to do if your tax information has been compromised, which may be the case for those victimized by the unemployment insurance fraud or other related tax-fraud issues.
Dudley Najieb features two experts during this episode, Ken Corbin, IRS Commissioner, Wage & Investment Division and Sue Simon IRS Director, Customer Assistance, Relationships and Education, Wage and Investment Division who explain everything a person needs to know about filing their taxes for 2020.
Kenneth (Ken) Corbin serves as the commissioner of the Wage and Investment (W&I) Division, responsible for the administration of tax laws governing individual wage earners in the United States. Ken was appointed as Commissioner, W&I Division, in January 2017. In January 2021, Ken was appointed for an additional role as chief taxpayer experience officer to help unify and expand efforts across the agency to serve taxpayers.
Ken began his career in government service at the IRS Atlanta Service Center in 1986.
Ken holds bachelor’s degrees in chemistry and philosophy from Emory University in Atlanta, Georgia.
Ken and his wife have two children.
Susan (Sue) Simon is the director of the Customer Assistance, Relationships and Education (CARE) organization. Prior to this assignment, Sue served as the director, field assistance in the Wage and Investment (W&I) Division.
Sue is a graduate of the 2014 Candidate Development Program; she is a graduate of the State University of New York at Old Westbury where she earned a bachelor’s degree in visual arts with a business management emphasis.
Sue and her husband have four adult children and enjoy traveling and visiting with friends and family.
IRS links - Here are some recent and relevant news releases:
Helpful links/comments from the chat box below:
-numbers for unemployment that is not taxable:
UI NUMBERS $10.2k FOR SINGLES $20.4k for joint filers -https://www.irs.gov/filing/free-file-do-your-federal-taxes-for-free -Form 14039 for fraud -https://www.irs.gov/refunds
What You Will Need:
Social security number or ITIN
Your filing status
Your exact refund amount