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September 15: Deadline for Tax Returns with Extension and Estimated Payments

For those who filled a tax extension: Tax returns are due on September 15 for S-Corps and Partnerships. September 15 is as well deadline for Estimated Payments (self-employed and businesses).

Remember! Filing later doesn’t mean paying later. All tax payments and must be done by the deadlines established by the IRS, there are no extensions for payments.

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Identity Theft Related to Unemployment

Unemployment compensation fraud was one of the more common identity theft schemes that emerged in 2020 as criminals exploited the COVID-19 pandemic and the resulting economic impact.

The U.S. Department of Labor's Inspector General estimated approximately $89 billion in unemployment compensation was lost in 2020 due to fraud.

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All taxpayers now eligible for Identity Protection PINs

All Tax Payers are now eligible to voluntarily get an Identity Protection PIN that will help protect you from tax-related identity theft. The IP PIN is a 6-digit number assigned to eligible taxpayers. It helps prevent identity thieves from filing fraudulent tax returns with stolen Social Security numbers (SSNs). An IP PIN helps the IRS verify taxpayers’ identities and accept their electronic or paper tax returns for processing.

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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 offers guidance to taxpayers on identity theft involving unemployment benefits

Scammers also took advantage of the pandemic by filing fraudulent claims for unemployment compensation using stolen personal information of individuals who had not filed claims.

Taxpayers who receive an incorrect Form 1099-G for unemployment benefits they did not receive should contact the issuing state agency to request a revised Form 1099-G showing they did not receive these benefits.

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