2024 Tax Refund Updates Calendar
Where’s my Refund? Updates Calendar for 2024 IRS Transcript and the Where’s My Refund? Updates Calendars! Updates to Where’s my Refund are recorded in the EST time zone. If you are in a different time zone…
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How to Read an IRS Account Tax Transcript: A Step-by-Step Guide
Navigating your IRS account tax transcript can feel daunting, but it’s a powerful tool for understanding your tax status, payments, and IRS actions. This guide breaks down the process into clear, actionable steps to help…
2024 Tax Transcript Cycle Code Charts
A cycle code is an 8 digit code found on your account transcripts. The cycle code indicates the day your account was posted to the IRS Master File. This date indicates the 4 digits of…
Tax Refund Status: “We Have Received Your Tax Return and It Is Being Processed” vs. “Your Tax Return Is Still Being Processed”
“We Have Received Your Tax Return and It Is Being Processed” vs. “Your Tax Return Is Still Being Processed” When checking Where’s My Refund?, the IRS uses two similar-sounding messages during tax return processing: “We…
Verifying Your Identity with the IRS
Received an IRS Letter 5071C and wondering what it means? Don’t stress! This notice is the IRS’s way of keeping your tax return safe from identity theft. Scammers are out there, but the IRS is…
2023 Tax Refund Updates Calendar
Where’s my Refund? Updates Calendar for 2023 IRS Transcript and the Where’s My Refund? Updates Calendars! Updates to Where’s my Refund are recorded in the EST time zone. If you are in a different time zone…
2023 Tax Transcript Cycle Code Charts
A cycle code is an 8 digit code found on your account transcripts. The cycle code indicates the day your account was posted to the IRS Master File. This date indicates the 4 digits of…
Understanding How to Dispute an IRS Notice
Got an IRS notice that doesn’t sit right? Maybe it’s an audit adjustment or a penalty you think is unfair. Don’t panic—you have the right to appeal and challenge the IRS’s decision! The IRS appeals…
Taxpayers, Beware! What Are IRS “Badges of Fraud”?
Don’t let your tax return raise red flags with the IRS! Understanding Badges of Fraud can keep you out of hot water and help you file with confidence. Here’s a quick, guide to what they…
Identity Theft and Refund Fraud Overview
Identity theft and tax refund fraud are on the IRS’s radar, and they’re teaming up to protect YOU! The Security Summit Initiative is a one-of-a-kind partnership between the IRS, state tax agencies, and private tax…
IRS Tax Return Processing Delays Continue Millions of Americans Are Still Waiting on Their Tax Refunds
Millions of Americans are still waiting for their IRS tax refunds as delays continue into 2025, causing frustration and financial uncertainty. The IRS has acknowledged a backlog mainly driven by a high volume of paper…
Status of Student Loan Repayment When Filing Taxes in 2026
Millions of taxpayers with student loans face major changes as they prepare to file taxes in 2026 due to updates in student loan repayment rules and tax treatment of loan forgiveness. Here’s a detailed look…
IRS Sending Plus Up Payments To Some Taxpayers Before Year End 2021
The Internal Revenue Service (IRS) is currently focusing on a stimulus check backlog which includes the Plus-Up Payments that many Americans are entitled to. There are some American citizens who are set to receive a payment of up to $1,400 before the…
The last monthly child tax credit payment of 2021 is being distributed
The Internal Revenue Service and the Treasury Department announced today that millions of American families will soon receive their final advance Child Tax Credit (CTC) payment for the month of December. Eligible families who did…
IRS will send out the last Advance Child Tax Credit payment by December 15, 2022
The Internal Revenue Service (IRS) is preparing for the sixth and final batch of monthly child tax credit payments. The first five payments were sent between July 15 to November 15, while the last payment is scheduled for December…
2022 IRS E-File Tax Refund Direct Deposit Dates
2022 IRS E-File Refund Cycle Charts The IRS will begin accepting 2021 tax returns on January 31, 2022, with nearly 165 million individual tax returns expected to be filed in 2022. The nation’s tax deadline will…
Get ready for taxes: What’s new and what to consider when filing taxes in 2022
The Internal Revenue Service today encouraged taxpayers to take important actions this month to help them file their federal tax returns in 2022, including special steps related to Economic Impact Payments and advance Child Tax…
What taxpayers can do now to get ready to file taxes in 2022
There are steps people, including those who received stimulus payments or advance child tax credit payments, can take now to make sure their tax filing experience goes smoothly in 2022. They can start by visiting the Get Ready…
2022 Tax Transcript Cycle Code Charts
A cycle code is an 8 digit code found on your account transcripts. The cycle code indicates the day your account was posted to the IRS Master File. This date indicates the 4 digits of…
IRS Reference Code
IRS “Where’s My Refund?” Reference Codes – Quick Guide We’ve compiled a simplified index of common IRS Reference Codes that appear on the “Where’s My Refund?” tool. Each code gives IRS agents a starting point…
Nov. 29 – Dec. 3, 2021, is National Tax Security Awareness Week
Kicking off a special week, the Internal Revenue Service and the Security Summit partners today warned taxpayers and tax professionals to beware of a dangerous combination of events that can increase their exposure to tax scams or…
Some important things all taxpayers should do before the tax year ends
The IRS reminds taxpayers there are things they should do before the current tax year ends on Dec.31. Donate to charityTaxpayers may be able to deduct donations to tax-exempt organizations on their tax returns. As…
2022 Tax Refund Updates Calendar
Where’s my Refund? Updates Calendar for 2022 IRS Transcript and the Where’s My Refund? Updates Calendars! Updates to Where’s my Refund are recorded in the EST time zone. If you are in a different time zone…
IRS Enhances Security of Online ID Verification Process
The Internal Revenue Service has improved its identity verification and sign-in process to enable more people to securely access and use IRS online tools and applications. Taxpayers using the new mobile-friendly verification procedure can gain…
2022 Tax Refund Schedule
We’ve based these timelines on historical data noting that most refunds will be issued by the IRS in less than 21 days after the return has been accepted. Certain things can affect the timing of your…
Do I Claim Zero, One, Two W-4 Allowances?
The last thing you want to do is frantically run up to your boss asking “How many allowances do I claim on my W-4?”. Being aware of the number of allowances you are claiming on a Form W-4 [Employee’s…
What You Should Know About Unemployment Taxes
Unemployment benefits saved a lot of American households this past year. Furloughs and lay-offs were at an all-time high due to the pandemic, leaving many without a lot of options. However, unemployment comes with taxes that few…
Why it’s important that taxpayers know and understand their correct filing status
A taxpayer’s filing status defines the type of tax return form they should use when filing their taxes. Filing status can affect the amount of tax they owe, and it may even determine if they…
November advance Child Tax Credit payments
The Internal Revenue Service and the Treasury Department announced today that millions of American families will soon receive their advance Child Tax Credit (CTC) payment for the month of November. Low-income families who are not…
A Math Error Could Be Behind Your Tax Refund Delay
The year 2020 is going to go down in the history books for a lot of reasons, and one of them is the enormous increase in the number of math errors that taxpayers made on…
Easy steps taxpayers can take now to make tax filing easier in 2022
The Internal Revenue Service today encouraged taxpayers, including those who received stimulus payments or advance Child Tax Credit payments, to take important steps this fall to help themselves file their federal tax returns in 2022.…
IRS updates 2021 Child Tax Credit and Advance Child Tax Credit Payments Frequently Asked Questions
The Internal Revenue Service today updated frequently-asked-questions (FAQs) for the 2021 Child Tax Credit and Advance Child Tax Credit Payments to describe how taxpayers can now provide the IRS an estimate of your 2021 income using the Child…
What day does IRS Update Transcripts?
If you’re one of the millions of taxpayers refreshing “Where’s My Refund?” or checking your IRS Tax Transcript for updates, you’re not alone. Every week, the IRS processes millions of returns, adjustments, and refunds —…
What does the “As Of” Date mean on Tax Transcripts
If you’ve looked at your IRS Tax Account Transcript, you may have noticed a term called the “As Of” date. It might seem confusing at first, but it’s actually very simple—and knowing what it means…
IRS issuing additional tax refunds to 430,000 people
The Internal Revenue Service has issued another round of refunds to workers who paid taxes on their unemployment benefits in 2020. This round of refunds totaled more than $510 million and went to 430,000 workers…
Midnight Tonight! IRS deadline to change income info for November 15 Child Tax Credit Payment
The next round of the advance child tax credit is set for Nov. 15. But if you’re worried that you’re getting too much or too little money, well, the IRS is asking that some people…
IRS Online Account for Taxpayers
An IRS online account is a safe and easy way for individual taxpayers to view specific details about their federal tax account. The IRS recommends that tax professionals share with their clients the benefits of having an…
IRS to offer QR code options for Notices
In the fall of 2020, the Internal Revenue Service announced that it was adding QR, or Quick Response, codes to some of the notices it sends taxpayers. Specifically, the codes are going on tax due notices.…
Common Questions About the Child Tax Credit Payments
The Child Tax Credit continues to be one of the most valuable tax benefits for families, especially during years when monthly advance payments are available. But many parents are still unsure how eligibility works, when…
Taxpayers Can Protect Themselves from Scammers by Knowing How the IRS Communicates
If the IRS does call a taxpayer, it should not be a surprise because the agency will generally send a notice or letter first. Understanding how the IRS communicates can help taxpayers protect themselves from scammers…
Notices & Letters from the IRS: Know What They Mean
The Internal Revenue Service (IRS) will send a notice or a letter for any number of reasons. It may be about a specific issue on your federal tax return or account or may tell you about…
Filing a Tax Extension
Even with the extended tax filing deadline this year, some taxpayers may still have needed extra time to file their taxes. Most tax software companies make it easy to file Form 4868 to ensure their clients get…
Do you have to pay back the Child Tax Credit Payments?
The IRS is now making monthly child tax credit payments to eligible families. Depending on the age of your child, those payments can be as much as $300-per-kid each month from July to December. That’s an…
IRS new proposal to track nearly all bank accounts
The Biden administration has revised a controversial plan that would require banks and other financial services institutions to report account data to the Internal Revenue Service (IRS) in an effort to crackdown on tax cheats. The original…
Review Your IRS Tax Records With Tax Transcript At No Charge
Many individuals may not know they can request, receive, and review their tax records via a tax transcript from the IRS at no charge. Transcripts are often used to validate income and tax filing status…
IRS Launches New Webpage To Assist Taxpayers With Refunds Subject To Joint Committee On Taxation Review
The IRS announced a new webpage that provides information to taxpayers whose large refunds are subject to further review by the Joint Committee on Taxation (JCT or Joint Committee). By law, when taxpayers claim a federal tax…
The Freedom of Information Act
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…
New IRS rule will affect cash app business transactions in 2022
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…
October 2021 Stimulus Check Update: Some U.S. states are issuing their own stimulus checks and cash bonuses
Whether you’re in Arizona to Washington, we have you covered with this in-depth guide on the latest news concerning financial help being sent out on a state level amid the coronavirus crisis. Find out what economic…
How does a taxpayer’s custody situation affect their advance child tax credit payments?
The Advance Child Tax Credit payments were based on the IRS records from the most recent tax return on file. This means the parent who claimed the child last year may have received the monthly…