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IRS Clarifies 90-Day Payment Relief

IRS Clarifies 90-Day Payment Relief

by | 18 Mar | , , , , , , , , , , ,

On March 18, the Internal Revenue Service provided clarification to special payment relief for individuals and businesses in response to the COVID-19 Outbreak.

For individual returns, income tax payment deadlines with a due date of April 15, 2020, are automatically extended until July 15, 2020, for up to $1 million of their 2019 tax due.

This payment relief applies to all individual returns, including self-employed individuals, and all entities other than C-Corporations, such as trusts or estates. The IRS will automatically provide this relief to taxpayers. Taxpayers do not need to file any additional forms or call the IRS to qualify for this relief. read more…

IRS Clarifies 90-Day Payment Relief

IRS Deferring Tax Payments by 90 Days

by | 18 Mar | , , , , , , , , , , ,

Tax Deadline Remains April 15

While taxpayers still have to file their taxes by April 15, 2020, the deadline to pay taxes has been extended by 90 days until July 15, 2020.

During a March 17th press conference regarding the coronavirus pandemic, U.S. Treasury Secretary Steven Mnuchin announced taxpayers will have an additional 90-days through July 15, 2020 to pay their taxes, penalty-free and interest-free. 

He said individual taxpayers can defer up to $1 million of tax payments and corporations up to $10 million in tax payments.

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Plan for Tax Season

Plan for Tax Season

by | 30 Jan | , , , , , , ,

Many individuals may think the time to plan for tax season occurs during the tax season, which occurs after their tax year has ended.

Unfortunately, this is often too late to make any adjustments, which may have benefited the taxpayer.  

Similarly, businesses can also fall into this line of thinking and fail to plan for tax season during their tax year.

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5 Reasons You Should Begin Planning for Tax Season NOW

5 Reasons You Should Begin Planning for Tax Season NOW

by | 10 Dec | , , , ,

It’s the 4th quarter. The holidays are right around the corner. The last thing you may want to think about is income taxes … but there are some compelling reasons why you should be thinking ahead.

Last year’s tax season saw the biggest change to the tax code in over 30 years. At the end of the tax season, we noted that one of the lessons learned was that individuals who engage us in tax planning early, on average, fared much better than those who did not. There are some very important reasons for this: read more…

Can You Deduct Your PJs and Coffee? Getting Creative with Home Office Deductions

Can You Deduct Your PJs and Coffee? Getting Creative with Home Office Deductions

by | 9 Apr | , , , , ,

home office deduction
Are you a business owner or contractor?  If your regularly work from home, you may be able to take advantage of a deduction for the business use of your personal residence. The home office deduction, however, has some specific requirements you should be aware of before claiming it on your tax return. read more…
Can You Mix Business and Pleasure When you Travel?

Can You Mix Business and Pleasure When you Travel?

by | 20 Mar | , ,

With summer vacation season almost upon us, people’s thoughts often turn to travel, and we thought it would be a good time to review the rules for deducting the costs of a business trip where you also take a vacation (“mixing business with pleasure”).   These costs may be deductible, but are also subject to limitations.  We will discuss these limitations below.

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Ten Tips for Amending Your Tax Return

Ten Tips for Amending Your Tax Return

by | 26 Dec |

If you have come to the realization that you forgot to include an item of income, deduction, credit, etc. from the tax return that you have already filed, you may still have time to make a correction by amending your tax return. 

Worried_woman_with_laptop.jpgGenerally speaking, you have three years to correct (or “amend”) your Form 1040, by filing Form 1040X.  If you also file a state tax return, you may (or may not) also have to file an amended return as well.



According to the IRS, you can fix mistakes or omissions on your tax return by filing an amended tax return. If you need to file one, these tips can help.

read more…

About Us

Since 1938, Zinner has counseled individuals and businesses from start-up to succession. At Zinner, we strive to ensure we understand your business and recognize threats that could impact your financial situation.

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