ABOUT BEQUESTS

You may be looking for a way to make a significant gift to help further the mission of your favorite charity. A bequest is a gift made through your Will or Trust. It is one of the most popular and flexible ways that you can support the cause that matters the most to you.

more

CHARITABLE GIFT ANNUITY

A charitable gift annuity is a great way to make a gift to your favorite charity. With this vehicle, you can gift your cash or property to your favorite charity and they will promise to make fixed payments to you for life at a rate based on your age.

more

IRA CHARITABLE ROLLOVER

An IRA rollover allows people age 70½ and older to reduce their taxable income by making a gift directly from their IRA.

more
Text Resize
Print
Email
Subsribe to RSS Feed

Sunday October 20, 2019

Washington News

Washington Hotline

Commissioner Rettig Thanks Taxpayers

On April 15, IRS Commissioner Chuck Rettig thanked taxpayers. He stated, "Our nation's tax system is built around the concept of voluntary tax compliance, meaning citizens comply with their civic duty each year by preparing and filing their taxes — without direct government intervention. This principle has helped make our tax system a model for the entire world. Thanks to taxpayers, this system helps fund our great nation. Each year, 95% of the gross receipts of our country flows through the IRS — about $3.5 trillion last year — funding critical aspects of the U.S., ranging from roads and schools to the nation's military."

Rettig reported a smooth filing season. By April 5, 2019, the IRS had received 103 million tax returns and issued 78 million tax refunds. The total amount of the refunds exceeded $220 billion and the average refund was $2,833.

This will be a busy month for both the IRS and taxpayers. The IRS expected 14.8 million tax returns to be filed the week of April 12. By tax day on April 15, the IRS predicted that another 18.3 million returns would be filed.

Over 14.6 million taxpayers are expected to file IRS Form 4868, Application for Automatic Extension of Time To File U.S. Individual Income Tax Return.

Some taxpayers may qualify for the following automatic extensions.
  1. Alaska Earthquake — Those impacted by the Alaska earthquake on November 30, 2018, may file by April 30, 2019.
  2. Alabama Tornadoes — The victims of the March 3, 2019, tornadoes in Alabama may file by July 31, 2019.
  3. California Wildfires — Those who were impacted by the major wildfires in California on November 8, 2018, may delay filing until April 30, 2019.
  4. Nebraska-Iowa Blizzard — A massive blizzard on March 9, 2019, impacted Nebraska and Iowa. The affected residents may delay filing until July 31, 2019.
  5. Combat Zones — Active duty military who are in Iraq, Afghanistan or other IRS recognized combat zones may delay filing until 180 days after departing from the combat zone.
  6. Workers Outside the U.S. — Workers and military residing outside the U.S. generally have until June 17, 2019 to file.

Published April 19, 2019
Print
Email
Subsribe to RSS Feed

Previous Articles

Last-Minute Tax Filing Help

IRS Website Visits Increase

Blizzard Disaster Relief

Taxpayer Advocate Service Scam

IRS Tips on Protecting Your Identity

scriptsknown