Tax Year 2022 Inflation Rates Announced
As the economy warms up in recovery mode, inflation starts to raise its ugly head. Everything—from baby food to new cars—costs more.…
Updated: Child Tax Credit FAQ on IRS.gov
The Internal Revenue Service is pushing out more information for taxpayers interested in the Child Tax Credit and its advance payments.…
401(k) Contributions Increased for 2022
Taxpayers contributing to a 401(k) plan for their retirement have gotten some good news from the Internal Revenue Service: they can now put more money into their plan for 2022.…
Some Non-Itemizers Can Deduct Charitable Donations
A new provision in the tax code lets more taxpayers deduct up to $600 in donations to qualified charities—even if they don’t itemize.…
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Some in Connecticut Get Extended Ida Relief
Taxpayers in Connecticut are getting a little extra time to file their taxes, courtesy of Hurricane Ida and the IRS. Ida tore up coastal areas in the southern US, and went on to batter the Northeast with flooding and other damage.…
Last Call for ACTC Signup, Income Changes
Families who have significant income changes to report for the advance Child Tax Credit payments are running out of time to pass those changes on to the Internal Revenue Service.…
Some Mississippi Counties Get Expanded Ida Relief
While most of the nation’s attention is turned to fall colors and the Thanksgiving holidays, residents of some Mississippi counties still have all-too-vivid memories of meaner weather earlier in the summer.…
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IRS Shares Online Safety Tips
The Internet is filled with cybersecurity threats that can jeopardize family finances. Just one of many scams, identity theft tax refund fraud (ITTRF) is big business for criminals, and it can cause big headaches for victims.…
IRS Highlights Resources for Employers Facing Labor Shortages
There’s not much doubt that the COVID-19 pandemic has taken a strong labor market and turned it on its ear, producing a shortage of available workers.…
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IRS Issues PTIN Renewal Reminder
It’s that time again: time for federal tax return preparers to renew their Preparer Tax Identification Numbers (PTINs) for the coming year. It’s no time to procrastinate, since 2021 PTINs will expire on Dec. 31.…
