Page 32 - Ken Corbin News Today : Breaking News, Live Updates & Top Stories | Vimarsana

IRS pushes filing deadline to May 17 as agency grapples with backlog of returns Tony Romm, Jeff Stein © Bloomberg/Photographer: Bloomberg/Bloomber U.S. Department of the Treasury Internal Revenue Service (IRS) 1040 Individual Income Tax forms for the 2016 tax year are arranged for a photograph in Tiskilwa, Illinois, U.S., on Tuesday, March 28, 2017. Due to the Emancipation day holiday, this year\'s income taxes will need to be filed by April 18 instead of April 15. Photographer: Bloomberg/Bloomberg The Internal Revenue Service announced on Wednesday it is postponing the c...

WASHINGTON —  The IRS is expected to push back the country’s tax-filing deadline to May 15, according to two people familiar with the decision, as the agency grapples with a massive backlog of 24 million returns it has yet to process since the 2019 tax year. The mounting work has left the agency underwater in recent months, and under political siege, as lawmakers come to fear that long-unresolved troubles at the IRS could undercut the Biden administration’s new economic recovery efforts. Millions of Americans still have not received stimulus checks under prior coronavirus aid packages...

IRS extends tax season deadline to May 17, while there’s a backlog of millions of returns unprocessed Updated Mar 18, 2021; The IRS extended the 2020 tax season deadline from April 15 to May 17, due to delays in processing an estimated 24 million returns, some of which dating back to the 2019 tax season, according to reports. While the IRS is currently struggling with processing returns, there are also millions of Americans who have yet to receive either the first or second stimulus checks. The IRS has provided eligible Americans who haven’t received their first or second stimulus checks...

Here's what you need to know about the $1,400 stimulus payments. Who is eligible for the checks? Much like the first two rounds of payments, individuals with income of up to $75,000 and married couples with income of up to $150,000 are eligible for the full payment amounts under Biden’s relief measure. However, the payments phase out faster above those thresholds, meaning some households that were eligible for partial payments in prior rounds won’t be eligible this time. Under the Senate-passed bill, individuals with income between $75,000 and $80,000, and married couples with income betw...

Back Christanine Brodis gathered her tax paperwork in February including a 1099-G for state unemployment compensation and a W2-G for some gambling winnings at MGM Grand Detroit, the only bright spot in a money-losing 2020. But she’s looking at taxable income now. Brodis, 48, sent her forms to a tax preparer by encrypted email, talked on the phone in her living room on a cold Saturday morning and had her 1040 prepared remotely as part of COVID-19 precautions taken now through the Accounting Aid Society in metro Detroit. Now she waits and wonders. The Detroiter, who has been out of work du...