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…
Millions of U.S. taxpayers are eligible to have their federal income tax returns filed for free through the IRS Free File program. Depending on your adjusted gross income (AGI), you may be able to use the guided tax preparation services offered through an authorized IRS partner site and/or the fillable forms. To learn how to file…
The Internal Revenue Service has announced that the nation’s tax season will start on Monday, Jan. 24, 2023, when the tax agency will begin accepting and processing 2022 tax year returns. The Internal Revenue Service today announced Monday, January 23, 2023, as the beginning of the nation’s 2023 tax season when the agency will begin accepting…
Changes to tax rules for charitable contributions and the end of pandemic-related stimulus and credits could mean less money for you. It’s highly likely your tax refund will be smaller in 2023, the Internal Revenue Service is warning, as pandemic-era programs continue to expire. Some tax credits that boosted refund bottom lines since 2020 are…
The Internal Revenue Service encourages taxpayers to use their free online IRS tools and resources to find the information they need to get ready to file their federal tax returns. Specifically, IRS.gov is a one-stop shop for tax novices and experts alike, offering how-to guides, FAQs, calculators, estimators, and downloadable files. The following are some…
Most taxpayers now use e-file to submit their returns. The process is easy to use, especially with the help of tax preparation software. On occasion, however, you may find that your electronically filed tax return gets rejected by the IRS. If this happens to you, don’t panic. There are numerous reasons why the IRS could…
