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IRS Extends Tax Deadlines

IRS extends additional tax deadlines to May 17

Following the extension of the filing and payment deadline for individuals to May 17, 2021, the IRS announced other tax deadline extensions to the same date.

Here’s what’s affected:

Contributions to IRAs and health savings accounts

People now automatically have until May 17, 2021, to make 2020 contributions to their:

  • Individual retirement arrangements
  • Health savings accounts
  • Archer medical savings accounts
  • Coverdell education savings accounts

The deadline for reporting and paying the 10% additional tax on amounts included in gross income from 2020 distributions from IRAs or workplace-based retirement plans is now May 17, 2021. Lastly, the due date for Form 5498 series returns related to these accounts is now June 30, 2021,

2017 unclaimed refunds  The law provides a three-year window to claim a refund. Normally, April 15, 2021, is the deadline to claim a refund from tax year 2017 but, the IRS has extended it to May 17, 2021. To get the unclaimed refund, a taxpayer must properly address and mail the tax return, postmarked by May 17, 2021. If a taxpayer doesn’t file a return within three years, the money becomes property of the U.S. Treasury.

Foreign trusts and estates Foreign trusts and estates with federal income tax filing or payment obligations, who file Form 1040-NR, now have until May 17, 2021.

2021 Annual Filing Season Program application deadline Tax return preparers who’d like to participate in the Annual Filing Season Program for calendar year 2021 now have until May 17, 2021, to file their application with the IRS.

Tax professionals can learn more on the AFSP page on IRS.gov.

No extension for estimated tax payments April 15, 2021 is still the deadline to make first quarter estimated tax payments. Withholding is automatic for most employees, but some taxpayers’ income isn’t subject to income tax withholding. These taxpayers must generally make quarterly estimated tax payments. Income that may require estimated tax payments includes:

  • Self-employment
  • Interest
  • Dividends
  • Alimony
  • Rentals

Taxpayers should review IRS Notice 2021-21 for more information about these extensions.

Source: IRS

https://www.irs.gov/newsroom/irs-extends-additional-tax-deadlines-to-may-17

10 Tips For Your New Job

10 Tips For Making The Best First Impression At Your New Job

Now that you know how crucial that initial period on the job is, let’s look at what HR professionals, career coaches, and executives have to say about conquering your first week at work.

How To Prepare For Your First Day At A Job

1. Research, Research, Research

2. Make Contact With Your Manager

3. Confirm Your Schedule

4. Do A Test Run Of Everything

5. Introduce Yourself To The Team Virtually

During Your First Week At A Job

6. Find A Buddy

7. Practice Extra Self-Care

8. Arrive Early

9. Don’t Be Afraid To Ask Questions

10. Meet With Your Manager One-On-One

Parting Words: Relax, They Already Like You!

Source: Trello

Full Article Here: https://blog.trello.com/starting-a-new-job-and-first-week-success

Go Green in 2021

10 easy ways to ‘Go Green’ in 2021

Often many of these changes take little effort and can often save you money.
A family plants herbs in a garden.
A family plants herbs in a garden.
Photo: Shutterstock

When setting your New Year’s resolutions, try making those that help our planet and better the environment. It will impact everyone in a positive way.

It doesn’t need to be hard either. Simple steps to reduce, reuse and recycle can add up. Often many of these changes take little effort and can often save you money.

Here are some ideas:

1. Love aluminum more
Did you know that recycling just one aluminum can save enough energy to power a television for three hours? The current amount of energy saved in one year just from recycling aluminum cans in the United States could light the entire city of Denver for more than 10 years, according to the Action Recycling Center in Colorado.

That’s because aluminum is infinitely recyclable, making it an ideal container. In fact, about 75% of all aluminum ever produced in the US is still in use today. Aluminum is one of the only materials in the consumer disposal stream that more than pays for the cost of its own collection.

“Americans throw away more than $700 million worth of aluminum cans every year,” according to the Aluminum Association.

Think of how much of an impact it would make if we recycled more cans.

Action Recycling points out that the number of aluminum Americans throw away every three months could rebuild our entire commercial air fleet.

2. Say no to single-use plastics
No one wants to hate plastic entirely. It has its purpose. In many instances, it is a vital material.

For example, bicycle helmets, child safety seats, medical equipment and cell phones are all made with plastic parts. It’s the single-use plastics such as plastic water bottles, straws and grocery bags that raise the biggest concerns.

Plastic water bottles. Try using a reusable bottle instead, and only use the single-use bottles in emergencies, or when you do not have access to reusable bottle.

Plastic straws. When you go to a restaurant, unless you actually need it, tell them you don’t want a straw. This alone can impact reducing plastic in our oceans.

Grocery bags. Most stores now sell their own reusable grocery bags or you can ask for a paper bag that can easily be recycled or composted — We’ll get to composting a little later.

Besides these options, you can help remove plastic in the ocean from the comfort of your couch. When you answer a trivia question on the Free the Ocean website, the company will remove a piece of plastic from the ocean.

Advertising on the site funds the cause to actually remove the plastic.

You can go back each day to answer a new question, and hey, you might learn something new in the process.

3. Power down devices
We all love our devices. They help us when it comes to needing directions, staying connected with friends and family and providing the ability to work from home.

When you’re not using devices, appliances or you’re not in a room, simply turn off the lights and other electronics.

4. Don’t prewash dishes
If everyone stopped rinsing their dishes before placing them in the dishwasher America could save 150 billion gallons of water in just one year, according to Reckitt Benckiser, the parent company to brand Finish. How much water is 150 billions exactly?

“That is roughly the equivalent to 230,000 Olympic swimming pools,” says Pedram Javaheri, CNN meteorologist. “Or it would take you 39,800 years of continuously running the shower to use that much water.”

The company believes in this so much that they have started what they call the Skip the Rinse Pledge. The campaign states that for every person taking the pledge, Finish donates $1 to the Nature Conservancy.

“The reason is that most dishwashers costing $500 or more, sold in the past five years or so have a sensor that determines how thorough a wash is needed,” explains Consumer Reports on using your dishwasher efficiently. “At the start of the cycle, it rinses the dishes and then checks how dirty the water is to determine the proper amount of time and water to get everything clean. If you’ve already rinsed off much of the muck, the sensor misreads the dishes as already fairly clean.”

That means prewashed dishes only get a light wash. So if you have a relatively new dishwasher, let it do its job.

5. Make your home more energy efficient
By simply adjusting your thermostat by a few degrees — especially if you aren’t home — will not only reduce your bill, but will help reduce energy use.

Another tip to make your home more energy efficient: swap out old bulbs with more efficient ones.

Albeit a little more expensive initially, swapping out old bulbs saves you money in the long run. Typically, more energy efficient bulbs shine brighter, so you won’t need to turn on as many lights. Plus, they can last up to five times longer than regular light bulbs, so you don’t have to replace them as often.

Adding insulation or double-paned windows can also make your home more efficient since your heating and air conditioners won’t need to run as frequently.

6. Opt for email receipts when available
You can cut down on paper waste by asking for email receipts. Many companies now offer email receipts as a secondary option to paper ones including Apple, Macy’s and Home Depot, to name a few.

It’s also more convenient if you have to make returns. How many times have you had to go back and search through desk paperwork, or your purse or wallet to look for a receipt in order to return something? Now you just pull up the email and voila!

Another easy way to reduce paper waste is to pay your bills online, if possible. Not only is this more convenient, some companies even offer auto-pay so you don’t have to set a reminder to pay on time. Just make sure the company you’re paying still lists the full bill they would normally send so that you can check it over.

One additional way to cut paper waste is to opt-out of junk mail. Many people don’t like getting junk mail anyway.

The Federal Trade Commission provides information on their website on how to get yourself removed from the lists.

7. Plant a garden
One great thing about planting a garden is that size doesn’t matter.

You can create a giant garden bed full of fruits and vegetables in your backyard, or have just a few small potted plants inside your home. Either way, you are benefiting the environment in multiple ways.

For starters any time you plant a tree, flower, shrub, or place a potted houseplant in your home, you are adding a natural resource that reduces carbon and produces oxygen.

Planting a garden allows you to grow some of your own vegetables and fruits, versus buying produce and that reduces your overall carbon footprint as well.

8. Swap your coffee filters and coffee pods
Coffee drinkers delight in this daily ritual. But it also means accruing waste daily.

By simply switching your coffee filters or single-use coffee cup or pods with more sustainable or reusable ones, you can help cut down on frivolous waste.

9. Consider gift wrap alternatives
Some gift wrap is recyclable when it doesn’t use foil or glitter or any other such additives that interfere with the recycling process. But so many other alternatives exist for wrapping gifts.

Natural baskets are a great alternative, not only because they are pretty, but they are easy to carry if you are gifting heavier items.

Fabric scraps and old scarves make for pretty alternatives, and can also add a little padding to more delicate gifts.

However, if you prefer the more traditional look of paper, try paper grocery bags, tissue paper, old calendar pages or even newspapers. Not a fan of the black and white look of a newspaper? Comics work.

10. Create a Home Compost Bin
Banana peels, eggshells, apple cores, coffee grounds and vegetable scraps usually end up in your trash bin. But scraps can also be recycled into black gold, or free compost for your garden.

Composting lowers the amount of garbage that ends up in a landfill. It also creates nutrient-rich soil that can be used later in and around your home.

The biggest deterrent for many when composting is the smell. If you have the room, move the composter outside. Also, when collecting the compost inside your house, use a container with a lid or seal to keep your kitchen from smelling until you can place the items inside your composter.

If you don’t have room for composting in your space, try connecting with a compost pick-up service in your local area such as CompostNow. These services — for a fee — will pick-up your compost with a chance to earn compost later.

Source: https://www.wrcbtv.com/story/43120811/10-easy-ways-to-go-green-in-2021