Author: Kienitz Tax Law

Common Questions About the CARES Act Economic Impact Payments

Common Questions About the CARES Act Economic Impact Payments

One of the most talked-about provisions in the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) have to do with the economic relief checks for many individuals and families. But despite the CARES Act becoming law in March 2020, not all eligible payment recipients have received their money.

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kienitz tax law how the cares act impacts your taxes

How the CARES Act Impacts Your Taxes

At roughly $2 trillion, the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) is the largest economic emergency relief package this country has ever seen. And there are currently talks about a CARES II relief package in the works in Washington, D.C.

Regardless of whether or not we get another economic relief bill signed into law, the CARES Act still has tremendous implications on the individual and business taxpayer. This blog post will go over a few of those tax-related provisions.

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Coronavirus Tax Scams

As you already know, Congress recently passed the largest emergency financial stimulus package in the history of the United States. Officially called the Coronavirus Aid, Relief, and Economic Security Act (CARES Act), this law provides, among other things, cash payments to Americans. The IRS will administer this process, which creates the potential for various tax scams.

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How Do You Know if the IRS Is Calling?

With your tax refund check excepted, no news is good news when it comes to the IRS. This means that for the most part, any communication received from the IRS is probably not a good sign. In fact, anytime you hear from the IRS, your heart will probably sink. That’s because you probably fear it’s the start of an audit, a request for back taxes or some sort of notice of an action against you.

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10 Most Overlooked Tax Deductions

People will pay good money to a tax attorney or accountant to find a way to prevent Washington from getting a penny more than the government is legally entitled to. So it’s ironic that there are tax deductions that people often miss. Yet some of deductions go unused. This isn’t surprising given how complex the tax code is. Here are 10 often missed tax deductions.

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kienitz tax How to Prevent Tax Related Identity Theft

How to Prevent Tax-Related Identity Theft

In this ever-changing electronic age, it’s never been easier to conduct business and take care of finances through a computer or smartphone. But this convenience comes at a cost. It’s also never been easier to steal someone’s identity and use that fake identity to engage in crime. The good news is that most cases of tax-related identity theft can be prevented by following a few simple rules.

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IRS payments

How to Pay the IRS When You Owe Taxes

Many millions of individuals and businesses have to pay taxes. It’s about as inevitable as well…death and taxes. But how these taxes are paid will depend on several factors. For most taxpayers, taxes will be paid on a regular basis throughout the year, whether it’s from an automatic deduction from a paycheck or by making quarterly payments. But what happens when the taxpayer owes taxes that go beyond these regular payments, such as when there are back taxes owed? There are two common arrangements to choose from.

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