IRS has improved its services this tax season, people e-filing filing their Form 1040-X, Amended U.S Individual Income Tax Return, will for the first time be able to select direct deposit and enter their banking or financial institution information for quicker delivery of refunds. In the latest improvement for taxpayers, the Internal Revenue Service announced…
As part of a continuing effort to improve service this tax season, the Internal Revenue Service today announced special Saturday hours for the next four months at Taxpayer Assistance Centers (TACs) across the country. The special Saturday availability across the nation will take place from 9 a.m. to 4 p.m., on Feb. 11, March 11, April 8,…
The Internal Revenue Service and partners nationwide today kicked off their Earned Income Tax Credit Awareness Day outreach campaign to help millions of Americans who earned $59,187 or less last year take advantage of the Earned Income Tax Credit (EITC). “This is an extremely important tax credit that helps millions of hard-working people every year,” said IRS Acting…
Opening Day for the IRS is Today January 23, 2023. The Internal Revenue Service kicked off the 2023 tax filing season with a focus on improving service and a reminder to taxpayers to file electronically with direct deposit to speed up refunds and avoid delays. Following a successful opening of its systems today, the IRS is now…
During the coronavirus pandemic, the American Rescue Plan temporarily boosted the maximum Child Tax Credit amount to $3,000 (children between the ages of 6 and 17) and $3,600 (children under age 6) for the 2021 tax year. It also allowed eligible taxpayers to receive a portion of the credit through automatic monthly payments instead of…
The 2023 tax season has now officially started and some early taxpayers have already received notifications from Where’s My Refund? and their tax services. If you’ve prepared and filed your taxes early, keep an eye on Where’s My Refund? This Week. They are doing IRS Hub Testing this week and will be accepting tax returns…
Tax Refunds May Be Smaller This Year Plan now to learn these 2023 tax tips to avoid surprises in the future! If you’re expecting a tax refund in 2023, it may be smaller than last year, according to the IRS. Your annual balance is based on taxable income, calculated by subtracting the greater of the…
You’ve heard it before. Since it’s tax time, you’ll hear it again. Choose your tax preparer wisely. This past year has been difficult for most of us as we were on the verge of a recession. Prices are skyrocketing for everything from the cost of housing to groceries. With the new tax filing season approaching…
Most taxpayers can get an early start on their federal tax returns as IRS Free File – an online tax preparation product available at no charge − opens today January 13, 2023, for the 2023 tax filing season. Today is IRS (Internal Revenue Service) Free File Day, meaning that some providers will accept completed tax returns and…
A new report by the IRS Taxpayer Advocate says processing delays are the “Most Serious Problem” faced by taxpayers during 2022. From the report’s Executive Summary: In 2020, the IRS quickly fell behind in processing paper-filed tax returns, resulting in tremendous backlogs of unprocessed paper. Even though the IRS tried to clear its paper backlogs through additional hiring, mandatory overtime…
