The Internal Revenue Service today issued frequently asked questions (FAQs) for the 2021 Recovery Rebate Credit. Individuals who did not qualify for, or did not receive, the full amount of the third Economic Impact Payment may be eligible to claim the 2021 Recovery Rebate Credit based on their 2021 tax year information. Individuals may have…
National Taxpayer Advocate Erin M. Collins released her 2021 Annual Report to Congress, calling the calendar year 2021 “the most challenging year taxpayers and tax professionals have ever experienced.” The report says tens of millions of taxpayers experienced delays in the processing of their returns, and with 77 percent of individual taxpayers receiving refunds, “processing delays…
To get an IRS IP PIN that is lost, forgotten, or never arrived in a CP01A Notice, use the IP PIN request portal at IRS.gov. What’s an IP PIN? The IRS IP PIN (Identity Protection, Personal Identification Number) is a 6-digit number assigned to only eligible taxpayers to help prevent the misuse of their Social Security number on fraudulent…
Child tax credit recipients need to be on the lookout for this letter from the IRS, which has started arriving in mailboxes. In January 2022, the IRS will send out these letters to households. Letter 6419 will serve as a reminder to log into your IRS tax account and make sure the advance Child Tax…
The deadline for tax returns to be filed is Monday, April 18 this year, three days later than the normal April 15 deadline for filing taxes. The later date is a result of an Emancipation Holiday in the District of Columbia. By law, in Washington, D.C., holidays impact tax deadlines for everyone the same way…
The Internal Revenue Service today updated frequently-asked-questions (FAQs) for the 2021 Child Tax Credit and Advance Child Tax Credit to help eligible families properly claim the credit when they prepare and file their 2021 tax returns. This extensive FAQ update (FS-2022-03) PDF includes multiple streamlined questions for use by taxpayers and tax professionals and is being issued…
The Internal Revenue Service has announced that the nation’s tax season will start on Monday, Jan. 24, 2022, when the tax agency will begin accepting and processing 2021 tax year returns. The Internal Revenue Service announced that the nation’s tax season will start on Monday, Jan. 24, 2022, when the tax agency will begin accepting…
Taxpayers and the Internal Revenue Service (IRS) are set to face a bumpy 2022 tax filing season, which the IRS announced will begin January 24th and run through April 18th. Two major challenges await taxpayers: a second year of navigating pandemic-related tax relief on their returns and IRS backlogs that may delay processing and refunds. Over the…
As we approach a new tax filing season we have compiled a list of things for you to remember before filing your return. DO NOT file your taxes with your last paycheck stub from the year DO NOT file your Taxes with your year’s final paycheck stub. The information on the final paycheck can be…
Before you file your tax returns, the IRS may be sending you these letters if you received the third stimulus check or child tax credit. The IRS started issuing information letters to advance child tax credit recipients in December. Recipients of the third round of the Economic Impact Payments will begin receiving information letters at…
