irs – Page 4 – Kenneth Athon Tax Strategies

Quarterly Estimated Tax Payments

12 Jun 20219 Jun 2021

Taxpayers who do not have sufficient tax withheld by payers, (e.g., employers or pension plans, etc.), may be required to pay an estimate of their current year tax liability, in…

Quote: “For billionaires, the federal income tax — the pillar of the U.S. tax system — has become a voluntary tax.”

11 Jun 20219 Jun 2021

Gabriel Zucman, of the University of California, Berkeley: “For billionaires, the federal income tax — the pillar of the U.S. tax system — has become a voluntary tax.” The New…

Wealthiest U.S. citizen reports so little income that he qualifies for refundable tax credit

New York Times: In 2011, [Jeff] Bezos reported so little income that he qualified for — and claimed — a $4,000 child tax credit. In both 2016 and 2017, Carl…

The 2020-2021 IRS Backlog

13 May 202111 May 2021

Today I was told by an IRS insider that only two percent (2%) of calls to IRS are being answered. This fact doesn't necessarily reflect a slow-down in by IRS…

Do you historically get an IRS refund every year?

Some taxpayers have a history of intentionally having too much withheld from paychecks, in order to have a larger overpayment refund at filing time next year. This is a type…

IRS Commissioner claims the IRS unopened mail backlog is now current

Excerpt from WRITTEN TESTIMONY OF CHARLES P. RETTIG, IRS COMMISSIONER,HOUSE WAYS AND MEANS COMMITTEE SUBCOMMITTEE ON OVERSIGHT ON THE FILING SEASON AND COVID-19 RECOVERYMARCH 18, 2021 Resuming Operations and Answering…

Proof that your tax return was timely filed

As proof of receipt of an electronically-filed tax return, the IRS sends a digital acknowledgement back to the electronic filer (tax preparer). You can get a copy of the acknowledgement…