The IRS’ Dirty Dozen Scams: What They Are and How To Safeguard Your Information And Money

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 pandemic-related scams including theft of benefits and bogus social media posts, a sad reminder that criminals are still using COVID-19 to steal people’s money and identity. CLICK ON THE HEADLINE FOR MORE

Roth IRA: Pay the IRS Now for a Tax-Free Retirement. Here’s How It Works

The last thing you want is to get hit with a giant tax bill when you’re transitioning into retirement. Learning about the tax advantages of a Roth IRA now can help you build your retirement plan for the future. CLICK ON THE HEADLINE FOR MORE

There May Still Be Hope For Monthly Child Tax Credit Payments In 2022. Here’s Why

While last year's push to expand the enhanced Child Tax Credit benefits was unsuccessful, it appears that lawmakers haven't given up the fight just yet — so there could still be hope for monthly tax credit payments in 2022. CLICK ON THE HEADLINE FOR MORE

Tax Professionals ‘Horrified’ By IRS Decision To Destroy Data On 30 Million Filers

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

Over 60 Million Tax Returns Could Be Completed Automatically, Study Shows

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

Child Tax Credit: Advocates Propose New Way To Expand Monthly Payments For Parents

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