The IRS will begin to release EITC/ACTC refunds starting Feb. 15. However, the IRS cautions taxpayers that these refunds likely won’t arrive in bank accounts or debit cards until the week of February 27 —… Refund Timing for Earned Income Tax Credit and Additional Child Tax Credit Filers
The IRS is proposing to change its position on when taxpayers may qualify as childless for purposes of the Sec. 32 earned income tax credit (REG-137604-07). The proposed regulations, issued on Thursday, would also make… IRS Proposes Changes to Rules for Dependents
Getting your tax return rejected by the IRS can mark the outset of a serious freak-out session. Thankfully the process of correcting and re-submitting your return often turns out to be fairly painless. Once you… If the IRS rejects your tax return, these codes will explain what went wrong
Combating identity theft is a top priority, and across the IRS many important steps are being taken to fight it. A key part of this involves the Security Summit Initiative, a unique partnership between the… Identity Theft and Refund Fraud Overview
The IRS is delaying tax refunds for more than 40 million low-income families this year as the agency steps up efforts to fight identity theft and fraud. The delays will affect families claiming the earned… Here’s why millions will face tax refund delays from the IRS
Starting in 2017, tax refunds that include an Earned Income Tax Credit (EITC) or Additional Child Tax Credit (ACTC) will be held until February 15. WHY IS THE DELAY HAPPENING? On December 18, 2015, Congress… Tax Season Important Reminders
The Internal Revenue Service and its in-house watchdog the National Taxpayer Advocate’s office are debating the future of the agency and how that will affect us and our filings in the coming years. The IRS… What Will the IRS of the Future Look Like?
The first Friday the 13th of 2017 is lucky for some taxpayers. That’s the day that Free File once again opens, allowing eligible folks to electronically prepare and file their 2016 tax returns. The Internal… Friday Jan. 13th may be a Lucky Day for some Tax Filers
One of the big sticks that the Internal Revenue Service wields is penalties for our mistakes or willful disregard of tax laws. Some of the penalties were increased in 2016 thanks to law changes. Others… The amounts of some tax penalty will increase in 2017
Did you know about 27 percent of Earned Income Tax Credit returns are paid in error? According to the IRS, the five most common errors account for more than 60 percent of erroneous claims. Remember,… Common Earned Income Tax Credit Errors!