Happy Tax Returns

02/09/2024

⚡️⚡️⚡️It’s week two of tax season! The IRS expects Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) refunds to be available starting February 27, 2024

01/17/2024

Congress announces major deal to expand child tax credit

01/17/2024

Watching what congress decides. If you can wait to prepare your tax return then wait. Child tax credits may be expanded and credits for businesses as well.

01/17/2024

Agreement on Tax Framework to Help Families and Businesses

Washington, D.C. – House Ways and Means Committee Chairman Jason Smith (MO-08) and Senate Finance Committee Chairman Ron Wyden (D-OR) announced a common sense, bipartisan, bicameral tax framework that promotes the financial security of working families, boosts growth and American competitiveness...

12/27/2022

🔥⚡️🔥⚡️🔥⚡️🔥⚡️🔥⚡️🔥

12/27/2022

⚡️⚡️⚡️IRS announces delay for implementation of $600 reporting threshold for third-party payment platforms’ Forms 1099-K

IR-2022-226, December 23, 2022 — The Internal Revenue Service today announced a delay in reporting thresholds for third-party settlement organizations set to take effect for the upcoming tax filing season.

12/12/2022

Comparison of retirement contributions 2021 vs 2022

12/10/2022

2020 Unemployment Tax Exclusion Update: The IRS is no longer automatically correcting 2020 returns. Taxpayers who filed their 2020 returns without claiming the unemployment income exclusion (UIE), as well as did not receive an automatic adjustment, may need to submit an amended tax return.

12/03/2022

The new rule comes as a result of the American Rescue Plan Act and is aimed at those who run side gigs and small businesses and do part-time work.

09/30/2022

⚡️⚡️⚡️⚡️One-Time Student Loan Debt Relief

https://studentaid.gov/debt-relief-announcement/one-time-cancellation?utm_content=&utm_medium=email&utm_name=&utm_source=govdelivery&utm_term=

08/31/2022

To help struggling taxpayers affected by the COVID-19 pandemic, the IRS issued Notice 2022-36, which provides penalty relief to most people and businesses who file certain 2019 or 2020 returns late https://www.irs.gov/newsroom/covid-tax-relief-irs-provides-broad-based-penalty-relief-for-certain-2019-and-2020-returns-due-to-the-pandemic-1-point-2-billion-in-penalties-being-refunded-to-1-point-6-million-taxpayers