WHAT’S THE BUZZ, TELL ME WHAT’S A HAPPENNIN’?

Just a reminder - 2019 tax returns, and payments, and the 1st quarter 2020 estimated tax payments are due in one month (July 15th).

* The NATP BLOG discusses "The value of a superseding tax return" in a guest post by Erin Collins, the new IRS Taxpayer Advocate.

I admit that I am one of the tax professionals who has never heard of a “superseding tax return”.

* Attention fellow tax pros who are unfamiliar with this issue – John Sheeley EA of Tax Practice Pro, inc told us about the workshop “Superseding or Amending: Does It Really Matter?” in a Facebook tax pro group post.

* The FORBES.COM TaxGirl Kelly Phillips Erb gives us “IRS Warns On COVID-19 Scams Involving Stimulus Checks, Fake Cures & More”.

* Kay Bell reports “Tax claims now allowed for some TS Cristobal damages” at DON’T MESS WITH TAXES.

* And Kay reminds us that “Summer day camp costs, even in coronavirus time, still eligible for a tax credit”.

This applies to DAY camp only.  Overnight or “sleep-away” camp does not count.

* Surprisingly, and stupidly, the NY Department of Taxation and Finance has issued “N-20-8: Announcement Regarding June Estimated Tax Payments”.

This notice states –

“The due date for estimated tax payments due on June 15, 2020, for personal income, fiduciary, and corporate taxpayers remains in place.

Accordingly, for purposes of 2020 estimated tax payments:

• Individuals and fiduciaries should consider the estimated tax payment due on June 15, 2020, as the 1st installment payment towards the 2020 tax year.

• Individuals and fiduciaries should consider the estimated tax payment due on July 15, 2020, as the 2nd installment payment of the 2020 tax year.”

To repeat – stupid!

THE LAST WORD -

The Republican Party’s continued acceptance, support and defense of ignorant and incompetent Trump, despite his total inappropriateness and unfitness to hold any position of power anywhere, in exchange for acquiring and maintaining the support and votes of his core cult of ignorant racists – or for those more inclined to conspiracy theories (and it is actually a legitimate possibility) due to blackmail perhaps because of Trump’s closeness to Jeffrey Epstein – is deplorable and despicable and certainly divests it of its past credibility as a legitimate political party.

TTFN