Interest rates on late tax refunds, and unpaid taxes, going up in 2023
Photo by Karolina GrabowskaThe Internal Revenue Service is making progress on its documents backlog, which started in 2020 with COVID-19 pandemic office closures and snowballed. But it's not there...
View ArticleRALs are still around, but be sure they're worth the cost
Money troubles lead some taxpayers to refund anticipation loans. If you're not careful, it could make finances worse. When the Internal Revenue Service officially opens the 2023 tax filing season,...
View ArticleIRS issues 12 million refunds to correct errant 2020 unemployment filings
Unemployment benefits can be a godsend when you lose your job. They also can be a god-awful problem at tax time.That money you get to help tide you over until you find another job is taxable income.In...
View Article7 reasons to file your tax return early
Photo by Kay BellThe Internal Revenue Service won't start processing 2022 tax year returns until Jan. 23, but you can file before then. A lot of folks are doing just that.The most common and obvious...
View Article10 reasons to file a tax return even if you don't have to
Photo by Dewang Gupta on UnsplashIn 2019, the Internal Revenue Service received nearly 156 million tax returns. Then came the COVID-19 pandemic.In 2022, the number of 1040s filed hit 169.7 million. The...
View ArticleDon't miss out on EITC, but note the 2022 tax return changes
The Earned Income Tax Credit, or EITC, is one of the most beneficial tax breaks for lower- and moderate-income workers. It's also one of the most under-claimed.The reasons are many, starting with its...
View ArticleOpen a bank account to get your tax refund sooner
Photo by Brett SaylesTax refunds are one of the main ways the Internal Revenue Service uses to encourage more of us taxpayers to go digital.For years, the IRS has said that if you e-file your tax...
View ArticleTax refunds from amended e-filings now can be directly deposited
It's never fun having to re-do your taxes. But if it means you'll get a refund, or a larger amount than with your original filing, it's worth it.And now amended filers can have that refund amount sent...
View ArticleState relief payments issued in 2022 are federally tax free
Image via California Franchise Tax BoardIndividuals who got special tax or inflation relief payments from their states last year won't have to worry about handing over a portion to the U.S....
View ArticleMore returns filed early in 2023, but average tax refund amount is smaller
That's all?!? (Photo by Karolina Grabowska)As we hit mid-February, more tax refunds will start going out. The Internal Revenue Service has been waiting, per 2015's Protecting Americans from Tax Hikes,...
View ArticleHow to get your tax withholding just right
When it comes to paycheck tax withholding, you want to get it just right to avoid a bear of a tax problem. (Goldilocks caught in Baby Bear's bed drawing by Leonard Leslie Brooke via Wikipedia...
View ArticleWhere's your tax refund? Use IRS online tracker to find out
via GIPHYWhere's your tax refund? Use the IRS' online tracker to find outThe first look at 2023 tax filing data revealed that while returns were coming in at a brisker pace than last year, the average...
View ArticleThese tax refund myths won't get you your money sooner
Through March 10, the Internal Revenue Service had issued more than 49 million refunds, which came to a total of $146.2 billion.If you're still waiting on your part of that, you're probably getting a...
View ArticleSome state refund recipients should amend their federal tax returns
Residents in 21 states got some good news from the Internal Revenue Service earlier this year.In 2022, they received general welfare, disaster, or stimulus payments from their state officials. These...
View ArticleJuly 17, 2023, is deadline to claim $1.5 billion in 2019 tax year refunds
Photo by Karolina GrabowskaNearly 1.5 million people across the United States are due tax refunds they didn't claim in 2020 by filing a 2019 tax year return. They can get that money, which totals...
View ArticleRefund advances, tax preparers target of new oversight bill
Unscrupulous tax return preparers once again made the Internal Revenue Service's annual Dirty Dozen scam list.That's not a surprise. The IRS and reputable tax community members are constantly battling...
View Article6 tax moves to make this July
Hello, July! Yeah, I know my welcome to the first full month of summer is a bit late. But admit it. You don't really focus on the month either until after you wrap up July 4th celebrations.Since...
View ArticleLess than a week left to collect 2019 tax year refunds
Photo by Olga DeLawrence on UnsplashIf you didn't file a 2019 tax return and missed out on that tax year's refund, you have less than a week to collect your money.You must file that old tax return,...
View ArticleOregon child support officials to get collection help from new reporting law
And if that's not enough to get what's owed, Oregon and other states' child support officials get the U.S. Treasury's assistance in collecting those delinquent family financial payments.Unsplash+ in...
View ArticleBe on guard against summer surge of tax schemes
Summertime, despite what the song says, is not easy if you are the target of a tax scam.And that's increasingly likely this season, says the Internal Revenue Service.The tax agency is urging people to...
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