One of the first decisions taxpayers must make when completing a tax return is whether to take the standard deduction or itemize their deductions. There are several factors that can influence a taxpayer’s choice, including changes to their tax situation, any changes...
The tax filing season is a popular time for scammers to call and try to dupe unsuspecting taxpayers. These thieves often make threatening or alarming calls posing as the IRS to try to steal taxpayer money or personal information. However, it’s easy for people to...
The new tax season arrived. Form 1040 and FinCEN 114. The IRS set Monday, Jan. 23, as the beginning of the nation’s 2023 tax season, when the agency will begin accepting and processing 2022 tax year returns. With the three previous tax seasons dramatically impacted by...
Isaac M. O’Bannon – CPA Practice Advisor It’s still a bit too early to think about it, but in case you are wondering, here’s our annual chart for the #1 question we get every year: “When will I get my tax refund?” The answer is never exact, but we are able to...
Starting in 2023, the Internal Revenue Service (IRS) will send more money in refunds to filers of the 2021 Tax returns. As a new year approaches, the Internal Revenue Service (IRS) prepares for a new tax season. However, there are taxpayers who are still waiting for...
After another year of tax law changes, there are significant updates for the 2022 season, with the possibility of a smaller refund or bigger bill for many taxpayers, experts say. With many everybody facing reduced tax breaks, it’s important to be proactive...
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