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

 

The last BUZZ of 2023.

* The IRS tells us “Tennessee taxpayers impacted by storms and tornadoes qualify for tax relief; various deadlines postponed to June 17” -

“The Internal Revenue Service today provided tax relief for individuals and businesses in parts of Tennessee affected by severe storms and tornadoes that began on Dec. 9.

These taxpayers now have until June 17, 2024, to file various federal individual and business tax returns and make tax payments.

The IRS is offering relief to any area designated by the Federal Emergency Management Agency (FEMA). Currently, this includes Davidson, Dickson, Montgomery, and Sumner counties. Individuals and households that reside or have a business in these counties qualify for tax relief.

The same relief will be available to any other Tennessee localities added later to the disaster area. The current list of eligible localities is always available on the disaster relief page on IRS.gov.”

* Kay Bell, the yellow rose of taxes, lists “6 tax-smart ways to make year-end charitable contributions” at DON’T MESS WITH TAXES.

 And Kay also reviews some “December 31 tax timing situations”.

* Russ Fox presents “The 2023 Tax Offender of the Year” award at TAXABLE TALK.

* Click here to learn about the new IRS Direct File program and to see if you qualify to use this new tool to prepare and submit your 2023 income tax returns directly to the IRS without using outside software or vendors.

TT -TNY