• News
  • Business
  • Donate
  • Features
    • Opinions
    • Arts & Style
    • Video
    • Photos
    • Interviews
    • Audio
  • About Us
  • New Americans Business Magazine
  • Contact
  • News
  • Business
  • Donate
  • Features
    • Opinions
    • Arts & Style
    • Video
    • Photos
    • Interviews
    • Audio
  • About Us
  • New Americans Business Magazine
  • Contact
Popular
Recent
Comments
Tags
  • U. S. 2020 Diversity Immigrant Visa Program opens Wednesday, Oct, 3

    October 1, 2018

    Feyi Tolani: An Advocate-In-Nursing

    November 1, 2018

    America’s Immigration Debate: The “Danger of Telling a Single Story.”

    February 13, 2017
  • Rep. Dontavius Jarrells returns to alma mater to g ...

    March 16, 2023

    Ohio Governor DeWine Approves $575,000 for Teen Dr ...

    March 16, 2023

    Ohio First Lady Fran DeWine and Moms2B work to red ...

    March 16, 2023
  • Good job, sir!

    January 12, 2021

    I'm call Haji I live the dadaab comp I am a refuge ...

    October 12, 2020

    Narayan vai, you spoke the truth about the importa ...

    September 6, 2020
  • Zimbabwe Youths Youth Foundation Younger Ohioans Yoga International Day Yoga Day X Gender Passport Worthington Christian School World Food Day World Cup 2022 World Cup Workplace Women's Commission Women's Big 10 Women Basketball Women and Families Wisconsin Badgers Who wins Ohio 2018 elections? When DACA Calls Westerville schools Wellness Walk Weekend Weddings/Funerals Wedding banquet Wear Masks
  • Rep. Dontavius Jarrells returns to alma mater to g ...

  • Ohio Governor DeWine Approves $575,000 for Teen Dr ...

  • Ohio First Lady Fran DeWine and Moms2B work to red ...

  • Amy Harcar focuses lens on White Hall City Council ...

  •  CRIS, Columbus Division of Police build Community ...

  • Norfolk Southern CEO appears before Congress

  • Arab American Bar Association of Ohio gives schola ...

  • Sophia Fifner becomes CEO of Columbus Metropolitan ...

  • Ohio’s Female Executives and Rising leaders

  • New American Leadership Academy begins 2023 cohort ...

  • Ohio’s Female Executives and Rising leaders

  • Sophia Fifner becomes CEO of Columbus Metropolitan ...

  • Arab American Bar Association of Ohio gives schola ...

  • Norfolk Southern CEO appears before Congress

  •  CRIS, Columbus Division of Police build Community ...

  • Amy Harcar focuses lens on White Hall City Council ...

  • Ohio First Lady Fran DeWine and Moms2B work to red ...

  • Ohio Governor DeWine Approves $575,000 for Teen Dr ...

  • Rep. Dontavius Jarrells returns to alma mater to g ...

  • New American Leadership Academy begins 2023 cohort ...

Previous Next

IRS kicks off 2020 tax filing season

Posted by: New Americans Magazine , January 27, 2020
  • Deadline is April 15, 2020
  • Expects 150 million individual tax returns for 2019

The Internal Revenue Service, IRS has opened the 2020 tax filing season as the agency begins accepting and processing federal tax returns for tax year 2019.

The deadline to file a 2019 tax return and pay any tax owed is Wednesday, April 15, 2020.  More than 150 million individual tax returns for the 2019 tax year are expected to be filed, with the vast majority of those coming before the April 15 tax deadline.

“The IRS workforce has worked for nearly a year to prepare for the opening of tax season,” said IRS Commissioner Chuck Rettig.

“Our dedicated employees are committed to help taxpayers, process tax returns and serve the nation − not just through the April 15 tax deadline but throughout the year.”

The IRS expects about 90 percent of individuals to file their returns electronically.

“Filing electronically and choosing direct deposit remains the fastest and safest way to file an accurate income tax return and receive a refund,” according to the Commissioner Chuck Rettig.

“The IRS reminds taxpayers there are many options to get help,” Rettig said.

“Our website has around the clock information available and is the fastest way to get assistance. We’ve made improvements to the Free File program and filing electronically with direct deposit remains the best way to speed refunds and minimize errors.

As always, experts in the nation’s tax professional community stand ready to help people navigate their tax issues. And we also remind people our IRS-trained community volunteers are ready to help file tax returns in locations across the country.”

Revised 2019 Form 1040 includes virtual currency questions

Using feedback from taxpayers and the tax professional community, IRS revised the Form 1040, U.S. Individual Income Tax Return, for tax year 2019.

Taxpayers will use fewer schedules to supplement the base Form 1040 as six schedules were consolidated into three numbered schedules.

In 2019, taxpayers who engaged in a transaction involving virtual currency will need to file Schedule 1, Additional Income and Adjustments to Income.

The Internal Revenue Code and regulations require taxpayers to maintain records that support the information provided on tax returns. Taxpayers should maintain, for example, records documenting receipts, sales, exchanges or other dispositions of virtual currency and the fair market value of the virtual currency.

“Virtual currency is an important addition to the 1040 this year,” Rettig said.

“This emerging area is a priority for the IRS, and we want to help taxpayers understand their obligations involving virtual currency. We will also take steps to

Post Views: 1,343

Tags: 2020 Tax returns

Share!
Tweet

New Americans Magazine

About the author

Deba Uwadiae is an international journalist, author, global analyst, consultant, publisher and Editor-in-Chief of the New Americans Magazine Group, Columbus, Ohio. He is a member of the Ohio Legislative Correspondents Association, OCLA.

Related Posts

Ohio Governor DeWine Approves $575,000 for Teen Driver Safety Scholarship Awards

Ohio Governor Mike DeWine has announced more than half a million dollars, $575,000 in grants th ...

Sophia Fifner becomes CEO of Columbus Metropolitan Club

By Okon Ekpenyong I shared a table with Jane Scott, the current CEO of the Columbus Metropolita ...

New American Leadership Academy begins 2023 cohort March 8

Twenty one diverse leaders originally from 15 different countries will begin training at the Oh ...

Columbus-based “Clean Water for All in Africa” advocate Tim Rosshirt speaks at UN 2023 Water Conference

Columbus, Ohio-based advocate for clean water for all in Zimbabwe in Africa, and Executive Dire ...

Leave a Reply Cancel reply

You must be logged in to post a comment.

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Advertisement

0
Popular
Recent
Comments
  • U. S. 2020 Diversity Immigrant Visa Program opens Wednesday, Oct, 3

    October 1, 2018

    Feyi Tolani: An Advocate-In-Nursing

    November 1, 2018

    America’s Immigration Debate: The “Danger of Telling a Single Story.”

    February 13, 2017
  • Rep. Dontavius Jarrells returns to alma mater to g ...

    March 16, 2023

    Ohio Governor DeWine Approves $575,000 for Teen Dr ...

    March 16, 2023

    Ohio First Lady Fran DeWine and Moms2B work to red ...

    March 16, 2023
  • Good job, sir!

    January 12, 2021

    I'm call Haji I live the dadaab comp I am a refuge ...

    October 12, 2020

    Narayan vai, you spoke the truth about the importa ...

    September 6, 2020

Archives

  • March 2023
  • February 2023
  • January 2023
  • December 2022
  • November 2022
  • October 2022
  • September 2022
  • August 2022
  • July 2022
  • June 2022
  • May 2022
  • April 2022
  • March 2022
  • February 2022
  • January 2022
  • December 2021
  • November 2021
  • October 2021
  • September 2021
  • August 2021
  • July 2021
  • June 2021
  • May 2021
  • April 2021
  • March 2021
  • February 2021
  • January 2021
  • December 2020
  • November 2020
  • October 2020
  • September 2020
  • August 2020
  • July 2020
  • June 2020
  • May 2020
  • April 2020
  • March 2020
  • February 2020
  • January 2020
  • December 2019
  • November 2019
  • October 2019
  • September 2019
  • August 2019
  • July 2019
  • June 2019
  • May 2019
  • April 2019
  • March 2019
  • February 2019
  • January 2019
  • December 2018
  • November 2018
  • October 2018
  • September 2018
  • August 2018
  • July 2018
  • June 2018
  • May 2018
  • April 2018
  • March 2018
  • February 2018
  • January 2018
  • December 2017
  • November 2017
  • October 2017
  • September 2017
  • August 2017
  • July 2017
  • June 2017
  • May 2017
  • April 2017
  • March 2017
  • February 2017
  • January 2017
  • December 2016
  • November 2016
  • October 2016
  • September 2016
  • August 2016

Contact Form


1+1=


American international journalist and author of "The Immigrant on Columbus Way: A True Life Guide To Settling Down As A New Immigrant To America "

Current/Past Issues

  • DailyNews
  • Hotels
  • Hotwire
  • Merchantic
  • Reference
  • Thesaurus
  • Urbanspoon

All used images are licensed by The New Americans Magazine.

Copyright © 2018 The New Americans Magazine | Layout and design by LiQiD inc