What the Team is Reading:

“Do You Have An Uncashed Tax Check? Here’s What To Do & How To Fix Other IRS Issues”

According to the author, when the IRS workforce returned to their offices in mid-June after being closed for three months, they were greeted with an estimated 11 million pieces of unopened mail. This situation has obviously caused a tremendous backlog in processing times. Among the issues caused are the late processing of payments sent in with 2019 tax returns. This has led to taxpayers receiving notices for late payment or non-payment of their income tax liabilities, even if the payment was sent timely. The IRS is assuring taxpayers that they will remedy the situation, and asking that you not respond to a payment notice until they have had time to do so. That said, if you receive one of these notices, we would suggest you contact your tax professional immediately.

Another timely point in the article is that you can pay your taxes directly from your checking account electronically.  Given the overworked and backlogged nature of both the IRS and the United States Postal Service, this option may seem very attractive at this time.  While Asset Advisors does not pay taxes directly for clients, we do have the expertise on staff to assist our clients in setting up and accessing this capability for both Federal and State tax payments. Please contact our office if we can help walk you through this process.