If you had the opportunity to receive a refund from the IRS or pay less tax legally than you thought you had to, would you take the opportunity or just let it pass you by? 9.9 times out of 10, you’d jump at the opportunity, and why wouldn’t you? Despite there being numerous ways of…
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 identity theft. The combination of the holiday shopping season, the upcoming tax season, and the pandemic create additional opportunities for…
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 people are deciding where to make their donations, the IRS has a tool that may help. Tax Exempt Organization Search on IRS.gov…
IRS Where’s My Refund? Updates Calendar for 2022 IRS Transcript and the Where’s My Refund? Updates Calendars! What time does Where’s My Refund Update? Updates to Where’s my Refund are recorded in the EST time zone. If you are in a different time zone use this chart to determine when you should be looking for updates…
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 entry to existing IRS online services such as the Child Tax Credit Update Portal Online Account Get Transcript Online Get…
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 refund, including: How you sent your return – Sending your return electronically allows the IRS to process it faster than if you mail…
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 Withholding Allowance Certificate] is important for a variety of reasons. Most importantly, the number of allowances you claim on a…
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 people understand, or know about. Whether you’re considering applying for unemployment, or have already started utilizing these benefits, you should…
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 have to file a tax return at all. There are five IRS filing statuses. They generally depend on the taxpayer’s…
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 getting payments and have not filed a tax return can still get one, but they must sign up on IRS.gov…
