The IRS’ Dirty Dozen Scams: What They Are and How ...
Following up on its June 2nd statement regarding the “Dirty Dozen” tax scams list for 2022, the IRS is now urging to watch out for...
Roth IRA: Pay the IRS Now for a Tax-Free...
The last thing you want is to get hit with a giant tax bill when you’re transitioning into retirement. Learning about the tax...
There May Still Be Hope For Monthly Child Tax...
While last year's push to expand the enhanced Child Tax Credit benefits was unsuccessful, it appears that lawmakers haven't given up...
The IRS destroyed data for an estimated 30 million filers in March 2021, according to the Treasury Inspector General for Tax Administration The decision, prompted by a backlog of paper filings, has sparked anger in the tax community. CLICK ON THE HEADLINE FOR MORE
The IRS may have the ability to automate nearly half of tax returns, according to a paper from the National Bureau of Economic Research. The findings show the agency could correctly auto-fill an estimated 62 million to 73 million returns with information it already has, covering 41% to 48% of taxpayers. CLICK ON THE HEADLINE FOR MORE
CTC legislation wasn’t renewed in 2022, which means that eligible households have not received payments this year. The Center on Budget and Policy Priorities reported that making the expanded CTC permanent would reduce childhood poverty, but lawmakers haven’t yet continued the expanded credit. To make up for the lack in federal benefits, CBPP policy analysts are urging state governments to create their own child tax credits. CLICK ON THE HEADLINE FOR MORE
The official tax filing due date was Monday, April 18 or Monday, Oct. 17 for those who applied for an extension. If you did neither, the question now is: What are the repercussions for you and how can you minimize them? The answers depend on whether you’re owed a refund or whether you still owe the IRS money for 2021. CLICK ON THE HEADLINE FOR MORE
While the measures are beyond the historic norms, the U.S. has often used economic warfare in its history. The full effect on U.S. consumers as well as on the global markets is yet unknown, but experts predict the consequences of economic warfare can be wide-reaching. CLICK ON THE HEADLINE FOR MORE
The best way to avoid IRS penalties is to know what gets penalized. Steer clear of these seven issues — and the penalties that go with them. CLICK ON THE HEADLINE FOR MORE
The “Dorothy L. Hukill Financial Literacy Act,” was signed into law on March 22 by Gov. Ron DeSantis. The bill equires that high school students take a half-credit personal finance course before graduation. CLICK ON THE HEADLINE FOR MORE
This year you really want to avoid extra IRS scrutiny. Being understaffed and overwhelmed, even a tiny mistake could delay your refund for months. To avoid tax hassles, the best approach is to be careful, thorough and digital when you file your return. CLICK ON THE HEADLINE FOR MORE
As a general rule, it’s a good idea to outsource tax preparation if your taxes are complicated. But even if you’re a salaried worker with little to no outside income, it could still pay to hire someone if doing so gives you peace of mind. CLICK ON THE HEADLINE FOR MORE
Impersonation communication and fake tax preparers — scammers are after your money this tax season. For tips to safeguard your refund, CLICK ON THE HEADLINE
