IRS Tax Bracket 2023: How Will Inflation Affect Refunds?

While the government is expected to announce 2023 tax brackets in November, it has to be noted that the figures will be based on the monthly average of Consumer Price Index changes for the latest fiscal year, which is between October 2021 and September 2022. CLICK ON THE HEADLINE FOR MORE

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The IRS Is Getting A Lot More Money For Audits. Should You Be Worried?

Congress is pouring a whopping $80 billion into the IRS over the next 10 years to beef up the nation’s tax collection system. Does this mean the tax cops are more likely to be on your tail? In fact, it might make the whole business of paying your taxes easier and better, maybe even reduce the amount all of us have to pay. CLICK ON THE HEADLINE FOR MORE

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Romney Child Tax Credit Proposal Could Be A Lifeline — But It Has Some Big Flaws

Dubbed the The Family Security Act 2.0, Senator Mitt Romney is eager to bring the boosted Child Tax Credit back to life. But while his proposal is a positive one in nature, it has a couple of major flaws. CLICK ON THE HEADLINE FOR MORE

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Could The IRS Let Everyone File Taxes For Free? Why Congress Is Considering Cutting Out The Middlemen

At one point or another, tax filers found themselves wondering the same thing: “If the IRS knows how much I owe, why do I have to calculate this myself?” For many, that leads to a second question: “Why am I paying a middleman to help me file?” The U.S. government is wondering the same thing. CLICK ON THE HEADLINE FOR MORE

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IRS Interest Rates Jump To 6% On Oct. 1. Here’s How Much Money You’ll Get For A Missing Refund

As of Aug. 5, there were 9.7 million unprocessed individual 2021 tax returns, according to the IRS, with 1.8 million requiring error correction or other special handling. The IRS is working to clear its backlog but there’s a little good news if you’re missing a refund: You may be earning interest on your unpaid balance. CLICK ON THE HEADLINE FOR MORE

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