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Avoid delays: Use e-file with direct deposit for faster refunds

Although every year the IRS encourages taxpayers to e-file their returns and use direct deposit to receive refunds, to those taxpayers who have previously not used e-file, the IRS emphasizes using it this year to avoid paper-related processing delays. Taxpayers can file electronically by using a tax professional, IRS Free File or other commercial tax preparation software. The IRS cautioned paper-filed tax returns and paper checks will take even longer this year due to a variety of reasons.

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IRS to Employers: February 1, 2021 deadline for Form W-2, other wage statements

Good preparation now can help businesses avoid problems later. The Internal Revenue Service reminds employers that they must file Form W-2 and other wage statements by February 1, 2021, to avoid penalties and help the IRS prevent fraud. For instance, employers can get an early start verifying or updating employee information like names, addresses and Social Security numbers or Individual Taxpayer Identification Numbers.

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New Instructions for Form 1045

The IRS has released new instructions for form 1045, also called Application for Tentative Refund, published July 1 of this year, with changes made to reflect the CARES Act legislation.

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IRS reminder: June 15 tax deadline postponed to July 15 for taxpayers who live and work abroad

The Internal Revenue Service reminds people who live and work abroad that they have until Wednesday, July 15, 2020, to file their 2019 federal income tax return and pay any tax due. The usual deadline is June 15. This extension was included in a wide range of Coronavirus-related relief announced in early April. The extension generally applies to all taxpayers who have an income tax filing or payment deadline falling on or after April 1, 2020, and before July 15, 2020.

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