Tax refunds are much smaller so far this year, IRS says
Early data released by the IRS shows that tax refunds so far this year are significantly lower than the same period last year. The average refund check so far this year is worth $1,395 as of Feb. 2, about 29% lower than the $1,963 average recorded last year. This is based on approximately 2.6 million […]
IRS ready to pounce on CTC expansion
Commissioner of Internal Revenue danny wurfel He said Thursday that the IRS is paying close attention to the bill and that the expanded credits and deductions could be processed domestically. A matter of weeks. Werfel added that the IRS could do so within the current filing season, which begins at the end of January. “We […]
House Republicans Announce Probe Into IRS For Allegedly Allowing ‘Prohibited’ Political Activity
The Republican-led House Oversight and Accountability Committee announced Wednesday that it will investigate the Internal Revenue Service (IRS) for allegedly allowing nonprofit organizations to conduct “prohibited” political activities. House Oversight Chairman James Comer said the IRS allows certain 501(c)(3) nonprofit organizations to engage in lobbying as a “substantive part” of their operations. It claims this […]
IRS takes baby steps with new direct file program
The IRS is taking a cautious approach to launching a free online tax filing system as the agency and its ambitious projects face intense political scrutiny. The IRS’ new “Direct File” online tax filing system will be available to an unlimited number of citizens when it is widely rolled out in mid-March, the IRS announced. […]
5 simple ways to make the IRS more effective, efficient, and fair
The Internal Revenue Service must constantly adapt to provide the best possible service to taxpayers. As tax attorneys, we have decades of experience navigating complex tax laws to help small businesses take advantage of the deductions and credits available to them, so we know how the IRS operates. There are many things government agencies can […]
12 states qualify for the IRS Direct File pilot program: Is yours one of them?
Twelve states have access to IRS filing programs designed to make filing your taxes easier. (iStock) The IRS is rolling out sweeping new changes to its tax filing system, starting a slow launch. direct file program. This program is intended to allow taxpayers to bypass expensive tax preparation software such as his TurboTax or H&R […]
IRS Direct File: The new tax website is a test of free filing – The Washington Post
This tax season, some Americans will have the chance to try out an idea that’s been proposed for decades: a free online tax preparation platform that allows them to file their returns directly with the Internal Revenue Service. Although free filing options have always existed, most Americans either purchase software or hire an author to […]
Nearly 1 in 5 eligible taxpayers don't claim this 'valuable credit,' IRS says – CNBC
Leila Bird | E+ | Getty Images But nearly 1 in 5 eligible taxpayers did not claim the EITC, with the average amount in 2022 being $2,541, IRS Commissioner Danny Wuerffel told reporters at a press conference last week. . “This is ‘a lot of money’ that millions of Americans are entitled to receive, but […]
IRS has again failed Main Street with handling of pandemic-era program
Gil Bonifaz has been through a lot. A fourth-generation restaurateur, his family restaurant has employed dozens of Texans and served delicious fajitas since 1971 at Herrera’s Tex-Mex in the heart of Texas’ 24th District. After pandemic-era restrictions reduced the restaurant’s revenue, it was unable to keep up with rising rent, accountant’s fees and medical costs […]
$7,340 tax credit from the IRS: Find out if you qualify for this big refund – PennLive
Tax season is off and more than 23 million people are waiting on large sums of money, according to the Internal Revenue Service. A lot of money? Surely it caught your attention? That’s a good thing because the IRS wants to make sure people are checking to see if they may qualify for tax credits […]