Tim Thompson CPA - August 2020

From Paper Filing to E-Filing

SUDOKU

The Change the IRS Is Faced With The COVID-19 crisis is still happening, and with it comes near- constant change. In the past several months, everyone has experienced change in at least one part of their lives. One big example of this change was in our taxes. In late March, the IRS announced that they were extending federal income tax filing from April 15 to July 15. For many people in the country, this was a huge relief — taxes are stressful enough without having to worry about a global pandemic. While at first glance this may have appeared to be a blessing, there may be some repercussions to this decision. If someone realizes they have an error in their return and need to amend it, it has to be sent by paper. “I personally had one several years back,” Tim Thompson recalls. “It took over 11 months to get processed, and that was pre-coronavirus.” When COVID-19 hit the IRS, they shut down, and the mail they would have normally received on a daily basis was directed into trailers that extended a mile long. The last estimate the IRS gave to go through all of that paperwork was two years. An important note to keep in mind is that they closed down during the peak of tax-filing season. If it does take the IRS two years to catch back up to where they were before COVID-19, you don’t want to be caught in the paper amendment process.

RESTAURANT-STYLE FETTUCCINE ALFREDO

To help this process and aid people who need to make amendments,

the IRS has decided to start utilizing e-filing in the next

• Salt • 2 tbsp butter • 1 clove of garlic, finely chopped • 1 1/2 cups heavy cream • 1 large egg yolk • 1 lb fresh fettuccine

• 1 cup freshly grated Parmigiano-Reggiano • Freshly ground pepper, to taste • Fresh parsley, chopped, to taste • 1 lemon wedge

month or so. “If we can e-file amendments,” Tim adds, “it doesn’t necessarily mean they get processed any faster, but they have to be processed more efficiently.” If anyone is looking to amend anything they’ve filed for 2019 and beyond, this is an important thing to keep an eye out for.

1. In a large pot, bring 6 quarts of generously salted water to a boil. 2. In a large, deep skillet, while the water heats, melt butter over medium-high heat. Add garlic and sauté until fragrant and sizzling (about 2 minutes). 3. In a bowl, whisk heavy cream and egg yolk until blended and pour into garlic butter. 4. Reduce heat to medium-low. Stir until hot, not boiling. Keep warm on low heat. 5. In the large pot, cook pasta until al dente. (The pasta will float once it’s done.) Reserve about 1/2 cup pasta water and drain pasta. Pour hot pasta into cream mixture and toss to coat on low heat. 6. Add Parmigiano-Reggiano and keep tossing gently until cream is mostly absorbed. If the sauce is absorbed too much, toss with extra pasta water. Season with salt and pepper to taste. 7. Serve with parsley and a squeeze of lemon.

The two takeaways here are that the amendment process should be getting easier for everyone in the next few months, and if you have to mail anything to the IRS — or have mailed them something

this year — expect a very long delay in response. And, of course, if you have any questions,

feel free to reach out to us at 877-829-7847.

877-829-7847 3

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