Tax Resolution Attorney John P. Willis Tells Readers That The IRS May Owe Some Of Them Interest And About A Group Fighting For Extended Relief For All Taxpayers.
Tax resolution attorney John Willis, CEO and founder of IRSALLSTAR offers information about two items of interest that all taxpayers will find interesting especially those who are owed a refund.
Fairhope, AL, July 31, 2020: Tax Attorney John Willis, CEO and founder of IRSALLSTAR.com, recently published an article on his website entitled “An Interesting Turn Of Events Could Mean The IRS Owes You Interest,” in which Mr. Willis tells readers procrastination may pay off this year.
Willis writes, “If you were one of the taxpayers who filed your tax return early, before COVID-19 became the crisis it continues to be, and you were owed a tax refund and have not yet received it, the IRS could be indebted to you.” He affirms for anyone who may be in disbelief, “That’s right.”
Willis says, “According to Forbes.com, “While it doesn’t happen often, if the IRS doesn’t issue your refund within 45 days of accepting your return, it owes you interest.” He goes on to say, “Not only that, this is one year when procrastination just might pay. Here’s why. The IRS is actually going to pay interest on refunds due if you file by July 15th. So they are paying the interest as if they were late in making the refund! Talk about a quirky turn of events! That’s one I’ve never seen.”
Turning to another topic, Willis writes, “If there is any one group with insight into how the pandemic is affecting taxpayers, it’s The American Institute of CPAs (AICPA).” He continues, “As a result of this insight, the AICPA is asking the IRS to continue its tax and penalty relief as COVID-19 continues to spread.”
Willis goes on to add, “According to a very recent article in AccountingToday.com, “In a letter, the AICPA urged the IRS to “act immediately to automatically waive failure to file and failure to pay penalties to the millions of taxpayers affected and working through the challenges created by the coronavirus.””
“The article quotes AICPA vice president of taxation Edward Karl, who states, “We are asking the IRS to do their part to help businesses and individual taxpayers by waiving penalties and delaying collections as the country begins the process of re-opening and operating in only a limited capacity.” https://www.accountingtoday.com/news/irs-to-end-people-first-initiative-despite-coronavirus-and-start-collecting-overdue-tax-payments-as-aicpa-urges-continued-relief?position=editorial_5&campaignname=ACT%20Best%20of%20the%20Week-07112020&utm_source=newsletter&utm_medium=email&utm_campaign=ACT_Weekly_Best+of+the+Week%2B%27-%27%2B07112020&bt_ee=MUE%2BKV6gEVvM%2BaayozuVzTqByLxy6AF5UCyG9GyF%2BtFCRhTwcbPZitcwvYjw5ETs&bt_ts=1594472451154
According to Willis, “The institute didn’t just ask for extended relief, they also offered a set of well thought out recommendations. It remains to be seen if the IRS is going to take them into consideration, but we can all hope they do because it is certain that many people and businesses are not going to be able to pay their taxes. Millions of people are not working, and many businesses are unable to function.”
The entire article can be read at: http://www.irsallstar.com/blog/an-interesting-turn-of-events-could-mean-the-irs-owes-you-interest.php
ABOUT JOHN WILLIS
Mr. Willis believes strongly in supporting and representing the “underdog” and has devoted his entire professional life to protecting and defending those who need it most. As an attorney, Mr. Willis takes his role as “counselor” seriously. His knowledge, creativity and persistence are valuable assets that provide substantial benefits to his clients. He has represented individuals and businesses across the Gulf Coast for over 21 years and, he brings together an abundance of skills and experience that can be of assistance to almost anyone.
ABOUT THE IRSALLSTAR TEAM
The IRSALLSTAR team has developed a winning formula to ensure that each client’s individual needs are specifically met. Upon becoming a client of Mr. Willis’ law firm, that client’s immediate needs are assessed, and long-term goals are defined. Experienced professionals on the IRSALLSTAR team then assist each client in developing and implementing a custom-tailored game plan to provide both short-term and long-term relief from his or her serious tax problems. All firm clients are continually coached toward successful tax resolution and final victory over their challenges with the IRS and state taxing authorities. The entire blog can be found at http://www.irsallstar.com/blog/irs-tax-controversy-even-death-cant-stop-the-irs.php
To learn more about Mr. Willis and his law firm please visit http://www.IRSALLSTAR.com or call toll-free 877-254-4254.