Originally enacted on July 4, 1966, the Freedom of Information Act established a statutory right of public access to Executive Branch information held by the federal government. The FOIA provides that any person has a right, enforceable…
The American Rescue Plan Act of 2021 modifies the IRS reporting requirement from $20,000 in aggregate payments and 200 transactions to a threshold of $600 in aggregate payments, with no minimum transaction number. The new rule is…
Originally enacted on July 4, 1966, the Freedom of Information Act established a statutory right of public access to Executive Branch information held by the federal government. The FOIA provides that any person has a right, enforceable…
When it comes to filing your taxes, it seems there is another language that only CPA’s and IRS employees understand. One of these baffling tax terms is “adjusted gross income”, which is apparently different than…
The government shut down early Saturday, January 20th after Congress failed to agree on a funding bill. That triggered automatic furloughs for government employees deemed “non-essential.” That means only a portion of each federal agency’s…
If you’ve ever tried to do your own taxes, you know how confusing they can be. Trying to pay taxes to two states or figure out what you can deduct and what you can’t? Good…
Here is a snapshot of recent filing seasons based on IRS data: Filing Season (as reported) Approx. Returns Processed* Refunds Issued Total Refund Dollars Average Refund 2025 (latest data) ~100.3 million 67.7 million $211.08 billion…
Why This Matters Right Now Every year, thousands of taxpayers attempt to artificially increase their refund by inflating credits such as: These credits can legitimately produce thousands of dollars in refundable payments. But fraudulently increasing…
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The IRS has reported that more than 128 million tax returns were e-filed in 2015 so far (about 91% of tax returns filed this year thus far). The number of tax returns safely e-filed has…