Tax season is a time of both anticipation and confusion for many individuals. While filing taxes can be a daunting task, the prospect of receiving a tax refund often brings a sense of relief and excitement. However, understanding when taxpayers can expect their refunds can be a source of uncertainty. In this blog post, we…
The Internal Revenue Service reminds taxpayers that IRS.gov provides last-minute tax return filers with the resources they need to get taxes done before the April 18 deadline. IRS.gov remains a great resource to help people working on their taxes in the final days before the deadline. The website has numerous resources ranging from tax preparation and refund…
The transaction code TC 424 is an Examination Request and is the code that will appear on your tax transcript if your tax return has been referred for further examination or audit. The IRS uses this code TC 424 when a tax return is submitted to the Examination or Appeals Division. TC 424 means the…
The transaction code TC 420 is an Examination of the tax return and is the code that will appear on your tax transcript if your tax return has been referred for further examination or audit. The IRS uses this code TC 420 when a tax return is submitted to the Examination or Appeals Division. TC…
The Internal Revenue Service said that taxpayers who filed their federal income taxes early in this year’s filing season and reported certain state 2022 tax refunds as taxable income should consider filing an amended return. On Feb. 10, 2023, the IRS provided details clarifying the federal tax status involving special payments made to taxpayers by…
The Transaction Code TC 810 Refund Freeze is a Freeze Code the IRS uses that will hold/stop a refund from being issued until the impact of the action being taken on the account and the refund is determined and processed. We know this can be stressful for you, but there are reasons for it, including…
The Internal Revenue Service issued a consumer alert today to warn taxpayers of new scams that urge people to use wage information on a tax return to claim false credits in hopes of getting a big refund. One scheme, which is circulating on social media, encourages people to use tax software to manually fill out Form…
The Internal Revenue Service (IRS) recognized Presidents Day as a federal holiday and is therefore closed. In anticipation of the upcoming holiday, the IRS warned people who planned to call before and after the holiday that they could experience longer wait times. The organization added that Tuesday, February 21, 2023, the day after Presidents Day…
The Protecting Americans from Tax Hikes (PATH) Act was created in order to protect taxpayers and their families against fraud and permanently extend many expiring tax laws. The law, which was enacted on December 18, 2015, first impacted tax returns filed starting in 2017 and will continue to impact all future tax returns until the…
The IRS’s “Where’s My Refund?” tool will be updated by February 18, 2023, for many taxpayers who claimed the Earned Income Tax Credit (EITC) or the Additional Child Tax Credit (ACTC). Before February 15, some taxpayers may see a PATH ACT Disclaimer message or an intermittent message (Being Processed) informing them that the IRS is…
