Important Tax Due Dates 2022 Tax Deadlines are upon us. This year, tax day is April 18th in most states, with the extension date of October 17, 2022. If you haven’t started on your taxes for 2021, now is the time. The following contributions to be made by April 18th, for 2021 2021 IRA Tax […]
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Advance Child Tax Credit (CTC) — Our recent article on the CTC helps explain the changes that need to be considered when filing your 2021 taxes. In order to appropriately record this credit and to avoid unexpected delays in return processing and refunds, you need to provide Form 6419 or a summary of the advanced […]
Interest Payments on 2020 IRS Refunds In 2021, millions of taxpayers received an interest payment with their tax refunds due to processing and refund delays. If you were one of them, be on the lookout for a form called 1099-INT. Any interest you earned on your IRS refund is fully taxable and will be listed […]
We hope your 2022 is off to a positive start! As the year gets underway, a new tax season is upon us, and we are looking forward to helping you prepare your tax return in a timely and efficient manner. As the global economy faces ongoing uncertainty with the lingering pandemic and its effects, the […]
IRS Issues New Rates for 2022 There have been many cost of living rate changes by the IRS to account for inflation. The following are just a few (a more complete list to follow): For those using an automobile for business, charitable, medical or moving expenses this year, the IRS has issued the following new […]
IRS Unveils New Online ID Verification Process to Help and Protect You The IRS recently launched an enhanced identity verification and sign-in process to better protect your personal information and reduce the risk of fraud. We’d like our clients to know that this new, mobile-friendly system allows you to access your current tax information. If […]