Additional relief for some taxpayers is included in the recently announced People First Initiative from the IRS. The initiative makes provisions for a variety of situations ranging from postponing Installment Agreement payments to compliance with Earned Income Credit verification requests. You can read more about the People First initiative here.
We want to confirm that we are receiving your e-mails and voicemails, and are doing our best to respond as quickly as possible. Under current circumstances, however, it could be up to a week before we are able to get back to you, and we greatly appreciate your patience!
While observing state guidance, one or two of us are periodically in the office for limited timeframes.
As a best practice, and particularly during this time of limited access, please be sure to make and keep copies of all of your original tax documents.
With the extension of the tax deadline to July 15, if you have not yet sent us your information, we would still encourage you to scan and upload your documents to the portal, or alternatively, send them to our PO Box:
Business Bookkeeping Services P. O. Box 249 South Weymouth, MA 02190
We continue to urge everyone to stay home, but If you must come to the office:
You will need to call or e-mail in advance to make sure we wil be there.
When you arrive, call us from your car to let us know you are dropping off or picking up documents.
We will then come to the main door to retrieve or deliver envelopes, packages, or checks, and/or wait for you to sign your returns.
As guidance changes and/or restrictions are lifted, we will issue additional communication for your benefit.
At a press conference on Wednesday, April 1, 2020 the Treasury and IRS has a bit of good news regarding economic the economic impact checks being issued to US citizens under the CARES Act. In short, those receiving Social Security benefits who don’t typically file a tax return will not need to file an abbreviated (simple) tax return to receive their stimulus payment. The IRS will use information from Forms SSA-1099 and RRB-1099 to generate payments for these individuals.
From the news release:
“We want to ensure that our senior citizens, individuals with disabilities, and low-income Americans receive Economic Impact Payments quickly and without undue burden,” said Secretary Steven T. Mnuchin. “Social Security recipients who are not typically required to file a tax return need to take no action.”
The payment will be sent via the same method that the individual ordinarily receives their benefits, either as a direct deposit or check.
It is good to know that some of the people who are struggling the most will have one less thing to worry about during these especially difficult times.
Magnified illustration with the word Answers on white background.
Tax rules continue to change due to the pandemic—both for this tax season, and for 2020. Below are some quick answers to some of the most frequently asked questions we have heard in recent weeks, as well as trusted links for resources related to coronavirus:
Required minimum distributions (RMDs) from retirement accounts are waived for 2020.
The deadline for 2019 tax returns and payments has been extended to July 15, 2020. If you owe money, you can file anytime now and still delay payment until July 15th.
If you make quarterly estimated tax payments, June 15th estimated taxes are still due on June 15th, 2020.
If you receive Social Security benefits and don’t typically file a tax return, you do not need to file an abbreviated (simple) tax return to receive your stimulus payment.
Rules regarding unemployment benefits, particularly for contractors and self-employed workers, are still evolving under the CARES Act. You can find general, and state-specific information through the Department of Labor (DOL) website.
The single most accurate source for information regarding coronavirus can be found at coronavirus.gov, an official website with the most up-to-date information from The Center for Disease Control (CDC), The Federal Emergency management Association (FEMA), and The White House.
In the past two days, there have been siginificant changes that affect our business. On Saturday, March 21, the IRS announced an automatic three-month extension for filing income taxes, to July 15, 2020. And just today, Governor Baker issued a statewide Stay-at-Home Advisory that requires us to close our office until the order is lifted.
In light of these recent events, we want to share with you some updated information regarding our operations. Specifically:
Our physical office will be closed until further notice in compliance with the state-mandated stay-at-home order.
We will continue to work on your taxes remotely, with limited email access.
The office is alarmed and secure.
As they are completed, we will be placing as many returns on the portal as possible.
If you haven’t yet sent us your documents and cannot access the portal, please do not mail or bring anything to our physical address. You can mail your information to us at our official mailing address, below.
Business Bookkeeping Services P. O. Box 249 South Weymouth, MA 02190
If you have mailed us your documents and they are sitting in our office, our hands are tied for now as far as being able to get them back to you.
We greatly appreciate your understanding and patience during this unprecedented and rapidly changing situation!
