Income Tax

Taxpayers need to be cautious regarding their stimulus payment processing in order to protect themselves from scammers: Be alert for phone scams. The Internal Revenue Service (IRS), Treasury Department, or any other government agency will not contact you by phone to collect information for stimulus payment processing. Period. Be alert for phishing scams. Government agencies … Read more

The Revenue Division has extended the Portland Arts Tax filing and payment deadline for the tax year 2019 from April 15, 2020, until July 15, 2020.

Salem, OR—At the direction of Governor Kate Brown, the Oregon Department of Revenue today announced an extension for Oregon tax filing and payment deadlines for personal income taxes and some other taxes closely following the IRS extension declaration. This move is a result of the governor’s priority to keep Oregonians safe and healthy, while also … Read more

Tax Day now July 15: Treasury, IRS extends filing deadline and federal tax payments regardless of amount owed IR-2020-58, March 21, 2020 WASHINGTON — The Treasury Department and Internal Revenue Service announced today that the federal income tax filing due date is automatically extended from April 15, 2020, to July 15, 2020. Taxpayers can also … Read more

Payment Deadline Extended to July 15, 2020 The Treasury Department and the Internal Revenue Service are providing special payment relief to individuals and businesses in response to the COVID-19 Outbreak. The filing deadline for tax returns remains April 15, 2020. The IRS urges taxpayers who are owed a refund to file as quickly as possible. … Read more

Use this donation calculator to find, calculate, and document the value of non-cash donations. There are sections for appliances, clothing, household goods, furniture, and more. Each section contains a list of commonly donated items with values based on Goodwill, Salvation Army, and other charity price lists for low, average, or high-quality items. You can scroll … Read more

The IRS offers several payment options where taxpayers can pay immediately or arrange to pay in installments. Taxpayers can pay online, by phone, or with their mobile device and the IRS2Go app. Taxpayers should pay in full whenever possible to avoid interest and penalty charges.    Here are some electronic payment options for taxpayers: Electronic Funds … Read more

The IRS warns about ‘ghost’ tax return preparers.

Filing a 1099 is the responsibility of the payer, not you the recipient. You will not be penalized if the company who pays you doesn’t file a 1099 to report the payments. That’s their problem – not yours. Your responsibility is to declare all of the taxable income you receive, whether or not it’s supported … Read more

Tax reform has had a significant impact on the tax deductions you can now claim for business entertainment and meals. The chart below shows you how the Tax Cuts and Jobs Act treats 12 meal and/or entertainment events. Amount Deductible for Tax Year 2018 Description   100%   50%   Zero   Meals with clients … Read more