In case you missed the memo, NM Governor Michelle Lujan Grisham (a.k.a. Notorious MLG), has extended the stay-at-home order through May 15th. Cat and I are going to continue to honor that by Cat staying at home. That means no phone support for me. That means leave a message! I am usually at the office… Read More
OK! Still feeling like I’ve turned a corner. Getting returns processed. Cat is finding her “work at home” groove too. We are moving slowly through the stacks that have been here since mid-March when all hell broke loose. I am still having to set aside some of the more complex ones for when I am… Read More
Economic Impact Payments I got mine. So I can answer one question—no, the IRS is not going to “do the math” to see if your dependent child who was eligible for the Child Tax Credit (CTC) in 2018 or 2019 is going to be eligible in 2020. You will get the additional $500 payment if… Read More
To those of you who sent kind e-mails offering to go on extension, to wait, or simply with kind words for me and Cat, thank you. To those of you who are sending e-mails making suggestions for how I can improve my business during this time—less than helpful. Oddly enough I’m getting these from both… Read More
When, where, how, I don’t know yet, but remember yesterday’s post where I mentioned the “donut hole” for college-age dependents? Two Michigan senators have introduced legislation to address that and it will probably be part of a larger Phase 4 relief package according to Kay Bell at Don’t Mess with Taxes.… Read More
This is me, showing you how to hold onto some of your money (or to mitigate the tax consequences of using it)… Required Minimum Distributions (RMDs) Recent legislation has suspended RMDs for 2020. If you haven’t already taken your RMD for 2020, you don’t have to. This includes RMDs from inherited IRAs. You know what… Read More
They’re coming! Payments are supposed to start “within the next three weeks.” As to exactly what that means, your guess is probably not much better than mine. If you filed a 2018 and/or 2019 tax return and got a refund via direct deposit, your payment will be the first to be rolled out and you… Read More
Update: If you are reading this after you got my e-mail I just realized I forgot to update the subject line of the e-mail. Same name. Same website. 🙂 This post is mainly for clients to let them know what I will be working on this week in the office. The window for filing amended… Read More
Yesterday I was in a two-hour class that felt like I was drinking from a fire hose. I sort of had a meltdown (OK, maybe not sort of) and I just had to go home. Today is better. I realized that right now is a lot like then end of 2018 and early 2019 when… Read More
OK. That may be understatement. I have never had to learn this much tax law on the fly and during the height of tax season. A tax season that, at least in my office, started woefully late. Many clients didn’t make getting their documents into the office a priority until “the virus issue” had already… Read More