Oct. 1: OK, let’s cut to the October chase. The deadline for most procrastinators to file their extended 2023 tax year returns is just 15 days away. Whether you’re just starting on that Form 1040 (really?) or just need to add the finishing touches, check out the ol' blog's monthly tax tip links a bit higher up in this column. The January through April ones that focused on the main Tax Day deadline should be most helpful.
Most taxpayers file electronically, and the Internal Revenue Service’s Free File option is still available through Oct. 15 for taxpayers with adjusted gross income of $79,000 or less, regardless of your filing status.
One of the eight tax software companies participating this year should meet your no-cost filing needs. If your income is too high, you still can file for free by using Free File's Free Forms option.
Oct. 7: Halloween brings us all types of scary situations, but Mother Nature can be a true witch. She showed her dark side late last month as deadly and devastating Hurricane Helene made landfall in the Florida Big Bend, and then barreled through the south. Even as rescue and recovery efforts continue for Helene, our eyes remain on the tropics. Hurricane season runs through Nov. 30 and late-season storms are not uncommon. So, if you haven’t already, make your storm preparations.
We’re still far from the predicted number of tropical systems for the 2024 season. Uncle Sam's official forecasters at the National Oceanic and Atmospheric Administration (NOAA) Climate Prediction Center said we could get 17 to 25 total named storms, which are those with winds of 39 mph or higher. Of those, eight to 13 are forecast to become hurricanes, meaning winds of 74 mph or higher. Four to seven becoming major hurricanes; that’s category 3, 4 or 5, with winds of 111 mph or higher.
Here’s hoping their storm predictions were too high. But regardless of the count, it only takes one to wreck your world. So, get ready for whatever dangerous weather that’s common where you live. If that is hurricanes, the countdown clock above can help you keep track of how many more days you have to worry about tracking any size or type of tropical storms. You also might want to check out the ol' blog's special Storm Warnings collection of special pages with posts offer tax advice on preparing for, recovering from, and helping those who sustain damages from the many ways that that weather goes wild.
Oct. 10: Do you work as a server at a restaurant or at any other establishment where gratuities from customers are part of your compensation? I hope you get all the tips you deserve for doing your job well. Remember, though, that those tips are taxable income.
Whether you're dining at your favorite eatery or getting food delivered to your home, if a tip isn't included on your restaurant or delivery bill, click the image above to calculate how much to tip the person who brought it to you.
And if you got at least $20 in gratuities in September for your extraordinary services as a food server or hair stylist or parking valet or whatever job where tipping is common, you must report that amount by today. Use Form 4070 to let your employer know the total tips you took in last month.
Oct. 14: Today is the federal Columbus Day holiday. Yes, that is what is still officially on the federal calendar. But many states, cities, and even the White House now also designate today as Indigenous People's Day.
If today is a holiday for you, it’s the perfect time to finish up your extended 2023 tax return. You must get the form to the IRS by tomorrow, or at least have the envelope postmarked 10/15 if you are snail mailing a paper tax return, or you’ll get hit with late-filing and, if you owe more than you paid when you got your extension, late-payment penalties and interest charges. So get to work! See the Oct. 7 info for some help here.
Oct. 15: It’s extension Tax Day!
File. Now!
Oct. 21: With your 2023 tax return finally done, it's time to work on reducing your 2024 tax bill. One way to do that is to reduce your taxable income, but in a way that’s to your benefit. Yes, I’m talking about contributing to your retirement plan(s), either your workplace 401(k) and/or a traditional or Roth IRA .
Oct. 28: Been seeing some frost on the pumpkins or whatever you grow in your yard? That’s a signal to get yourself and your home ready for the coming colder weather. The Inflation Relief Act includes extension of older and addition of new energy-related tax breaks, including some for residential energy improvements.
Oct. 31: Boo and Happy Halloween! No time for taxes today. Got to get your costume ready for tonight’s trick-or-treating with the kiddos, or if you’re on your own, for that theme party with a cauldron of some fitting potent potable! Whichever way you celebrate, have fun and stay safe!
Small Business Tax Calendar: Important filing, deposit and record keeping dates throughout the year that your company needs to know. You can get more tax calendar information at the IRS' online calendar page and view the full year's important business and individual tax dates in IRS Pub. 509.
Actually there is no financial assistance from the IRS in LA COUNTY. You have to apply for a federal match grant (started in 2009)- nonprofits still have to find other funding to support their efforts.
Posted by: Ana | Thursday, August 19, 2010 at 06:13 PM
I'm sorry to hear about Vita's experience with assistance at the VITA sites where she has volunteered.
The Albany IRS office has provided OUTSTANDING support to VITA sites in the greater Capital District of New York. The United Way has recognized the outstanding work of the local IRS office with a community impact award. You can read more here.
http://bedbuffalos.blogspot.com/2009/10/joanne-passineau-award-winning-irs.html
Posted by: Mary O'Keeffe | Sunday, October 25, 2009 at 02:30 PM
True, you're not going to see a lot of IRS staff at the sites, but they do offer guidance and the big support is financial. Most of the nonprofit organizations that set up and run the VITA sites wouldn't be able to do so without the money from the IRS.
Posted by: Kay @ Don't Mess With Taxes | Saturday, September 26, 2009 at 12:00 AM
Maybe it is me but how many VITA programs actually get help from the IRS?
I ran a VITA program and got minimal if any assistance from the local IRS. Another school ran a VITA program and got the same.
I left for another city and helped out with a 3rd schools VITA and saw again....minimal IRS support.
Posted by: Vita | Friday, September 25, 2009 at 08:48 PM