Unfiled 2020 2019 Tax Returns-relief is available, but act quickly

Relief is available

Here is a very brief public service posting. If you have not filed certain 2020 and 2019 tax returns (including Form 1040)- relief may be available to you. You have to act quickly and must have these returns filed by September 30, 2022. Please contact your tax preparer/advisor if you think you can take advantage of this relief. For complete details, please refer to IRS Notice 2022-36 which you can find on the IRS’s website https://www.irs.gov/pub/irs-drop/n-22-36.pdf . Note this is only for IRS filings, your state and local tax authorities may or may not have offered this relief.

Your tax advisor will be able to tell you what relief you may qualify for and what actions you must take.

Here is partial list of returns that qualify for relief

Form 1040, U.S. Individual Income Tax Return;
Form 1040-C, U.S. Departing Alien Income Tax Return;
Form 1040-NR, U.S. Nonresident Alien Income Tax Return;
Form 1040-NR-EZ, U.S. Income Tax Return for Certain Nonresident
Aliens With No Dependents;
Form 1040 (PR), Federal Self-Employment
Contribution Statement for Residents of Puerto Rico;
Form 1040-SR, U.S. Tax Return for Seniors; and Form 1040-SS, U.S. Self-Employment Tax Return (Including the Additional Child Tax Credit for Bona Fide Residents of Puerto Rico);
•Form 1041, U.S. Income Tax Return for Estates and Trusts;
Form 1041-N, U.S. Income Tax Return for Electing Alaska Native Settlement Trusts;
Form 1041-QFT, U.S. Income Tax Return for Qualified Funeral Trusts;
Form 1120, U.S. Corporation Income Tax Return;
Form 1120-C, U.S. Income Tax Return for Cooperative Associations;
Form 1120-F, U.S. Income Tax Return of a Foreign Corporation;
Form 1120-FSC, U.S. Income Tax Return of a Foreign Sales Corporation;
Form 1120-H, U.S. Income Tax Return for Homeowners Associations;
Form 1120-L, U.S. Life Insurance Company Income Tax Return;
Form 1120-ND, Return for Nuclear Decommissioning
Funds and Certain Related Persons;
Form 1120-PC, U.S. Property and Casualty Insurance Company Income Tax Return;
Form 1120-POL, U.S. Income Tax Return for Certain Political Organizations;
Form 1120-REIT, U.S. Income Tax Return for Real Estate Investment Trusts;
Form 1120-RIC, U.S. Income Tax Return for Regulated Investment Companies;
Form 1120- SF, U.S. Income Tax Return for Settlement Funds (Under Section 468B);
Form 1066, U.S. Real Estate Mortgage Investment Conduit (REMIC) Income Tax Return;
Form 990-PF, Return of Private Foundation or Section 4947(a)(1) Trust
Treated as Private Foundation; and Form 990-T, Exempt Organization
Business Income Tax Return (and Proxy Tax Under Section 6033(e)).
Please read the full text of the IRS notice for additional details.

Thank you for reading, please share with friend, very truly yours Eric

Estimated reading time: 3 minutes

Author: Eric Ten Broeck

Eric has his MBA in taxation and a post master's certificate in finance. He has created businesses in the accounting services space. Eric has helped many businesses get established and prosper.

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