With millions of tax refunds being processed, the Internal Revenue Service reminds taxpayers they can get fast answers about their refund by using the “Where’s My Refund?” tool available on IRS.gov and through the IRS2Go app. More than 70 percent of taxpayers will receive a refund this year. The Internal Revenue Service issues nine out of 10…
The Internal Revenue Service (IRS) recognized Presidents Day as a federal holiday and is therefore closed. In anticipation of the upcoming holiday, the IRS warned people who planned to call before and after the holiday that they could experience longer wait times. The organization added that Tuesday, February 22, the day after Presidents Day will…
The Protecting Americans from Tax Hikes (PATH) Act was created in order to protect taxpayers and their families against fraud and permanently extend many expiring tax laws. The law, which was enacted December 18, 2015, first impacted tax returns filed in 2017 and will continue to impact returns until the law is overturned or changed.…
Sometimes the most challenging part of filing your taxes is simply knowing what to do with all the paperwork (or pdf-work? Is that a term?) that arrives in the mail (or your inbox). Similar names and unfamiliar structures don’t help, so today we’re going to break down three common tax forms that sound similar but…
IRS launches Identity Theft CentralFocuses on needs of taxpayers, tax professionals and businesses The Internal Revenue Service today launched Identity Theft Central, designed to improve online access to information on identity theft and data security protection for taxpayers, tax professionals and businesses. Located on IRS.gov, Identity Theft Central is available 24/7 at irs.gov/identitytheft. It is a…
On January 26, 2024, the Internal Revenue Service, along with its partners across the nation, highlights the Earned Income Tax Credit during “EITC Awareness Day.” Celebrating its 18th year, this campaign serves as a crucial reminder to millions of workers about the importance of this significant tax credit. The Earned Income Tax Credit (EITC) is…
Where’s my Refund? Updates Calendar for 2020 IRS Transcript and the Where’s My Refund? Updates Calendars! Tuesday Transcript Updates – Daily accounts are processed Friday, Monday, Tuesday or Wednesday. Tax returns that follow Daily processing will see transcripts update on Tuesdays mornings. Wednesday WMR Major Updates – Daily accounts are processed Friday, Monday, Tuesday or Wednesday.…
Taxpayers who claim the Earned Income Tax Credit or the Additional Child Tax Credit may experience a refund hold. According to the Protecting Americans from Tax Hikes (PATH) Act, the IRS cannot issue these refunds before mid-February. The IRS expects the first EITC/ACTC-related refunds to be available in taxpayer bank accounts or on debit cards…
The tax filing season is upon us, and many people will be looking for someone to help them file a tax return. Taxpayers should choose their tax return preparer wisely. This is because it’s ultimately the taxpayer who is responsible for all the information on their income tax return. It’s important for people to remember that this is…
While many people are required to file a tax return, it’s a good idea for everyone to determine if they should file. Some people with low income are not required to file but will need to do so if they can get a tax refund. Here are five tips for taxpayers who are deciding whether…
