|
Taxpayer Advocacy Panel
(TAP)
Want to improve
the IRS?¨SPEAK
UP
By Andrea Price, TAP member representing Ohio
Guest Column
The Taxpayer Advocacy Panel is comprised of civic-minded
citizen volunteers from all walks of life representing each
state, D.C., Puerto Rico and an international member
(citizens living, working or doing business abroad). TAP is
a Federal Advisory Committee whose mission is to listen to
taxpayers, identify taxpayers’ issues and make suggestions
for improving the IRS service and customer satisfaction.
Everyone has something to say about taxes and the IRS.
Please take a moment to give us your suggestions for TAP to
consider by contacting one of the following:
TAP Ohio member:
tapohioandreaprice@gmail.com
Call Toll-free at:1-888-912-1227
Website:
www.improveirs.org
Get Ready for Taxes: Steps to take now to make tax filing easier
in 2021
The Internal Revenue Service is encouraging taxpayers to
take necessary actions now to help file federal tax returns
timely and accurately in 2021. This notice is to help
taxpayers get ready for the upcoming tax filing season. A
special page updated and available on IRS.gov, outlines
steps taxpayers can take now to make tax filing easier in
2021. 2020 has been a busy year, with a lot of changes. To
make sure taxpayers don’t miss out on tax benefits or make
mistakes, they can take a few simple steps now to make
filing their taxes easier in 2021.
An important first step to getting taxes ready is to gather
all tax records. Having records organized makes preparing a
tax return easier. It may also help discover potentially
overlooked deductions or credits.
·
Most income is taxable, so taxpayers should gather income
documents such as Forms W-2 from employers, Forms 1099 from
banks and other payers, and records of virtual currencies or
other income. This also includes, unemployment income,
refund interest and income from the gig economy.
·
Beginning in 2020, individuals may receive Form 1099-NEC,
Nonemployee Compensation, rather than Form 1099-MISC,
Miscellaneous Income, if they performed certain services for
and received payments from a business.
·
Taxpayers may also need Notice 1444 Economic Impact
Payment, which shows how much of a payment they received in
2020. This amount is needed to calculate any Recovery Rebate
Credit they may be eligible for when they file their federal
income tax return in 2021. People who didn’t receive an
Economic Impact Payment in 2020 may qualify for the Recovery
Rebate Credit when they file their 2020 taxes in 2021.
·
To see information from the most recently filed tax return,
recent payments and more taxpayers can sign up to
view account information online.
·
Taxpayers should notify the IRS of address changes and notify the
Social Security Administration of a legal name change to
avoid delays in tax return processing.
Special $300 tax deduction helps most people give to charity this
year – even if they don’t itemize
·
Following special tax law changes made earlier this year, cash
donations of up to $300 made before Dec. 31, 2020, are now
deductible when people file their taxes in 2021.
·
“Our nation’s charities are struggling to help those suffering
from COVID-19, and many deserving organizations can use all
the help they can get,” said IRS Commissioner Chuck Rettig.
“The IRS reminds people there’s a new provision that allows
for up to $300 in cash donations to qualifying organizations
to be deducted from income. We encourage people to explore
this option to help deserving tax-exempt organizations – and
the people and causes they serve.”
|
