The IRS announced on December 22, 2021 that taxpayers in six states affected by Hurricane Ida will now have until February 15, 2022 to file various individual and business tax returns and make tax payments.
The IRS issued a ‘Get ready for taxes’ message to help you prepare for filing your tax return this year. It includes information on how to get banked now (so you can receive a direct deposit), and information about qualifying charitable deductions for taxpayers who do not itemize their deductions.
If you file your own federal tax return, be cautious and go to one of the Taxpayer Advocate Service’s (TAS) free pre-filing season events... We’ll explain what items and errors can cause IRS delays when processing your tax return, so you can avoid them this filing season.
Taxpayers generally have to start taking withdrawals from their IRA, SEP IRA, SIMPLE IRA, or retirement plan account(s) when reaching age 72 (70 ½ if you were born before July 1, 1949). These withdrawals, called required minimum distributions, are the minimum amounts you must withdraw from your account each year...
TAS Tax Tip: Join us in January for pre-filing tax tips to make this filing season go a lot smoother
Taxpayer Advocate offices around the country will be conducting Pre-Filing Season events in January 2022. We will share tax tips to help you avoid common tax filling errors this tax season, so your tax return is ready to go this year.
In case you didn’t know, the IRS’s computer systems compare the income that you report on your tax return to what has been reported to them by payers. When income and/or federal income tax withholding don’t match, this will cause a delay in the processing until the discrepancy is resolved.
If your advance Child Tax Credit (CTC) payment ended or changed for the month of October, it may be because you mistakenly received advance CTC payments. The IRS provided some potential reasons for the change in a statement released on October 29, 2021.
IRS issued a reminder for families collecting advance payments of the Child Tax Credit (CTC) that Nov. 29, is last day for families to opt out or make other changes. The Child Tax Credit Update Portal (CTC-UP) allows families who are already receiving monthly payments to view those payments as well as use it to update their accounts
This Thanksgiving, as we continue to adjust our work and personal lives, I am reflecting on the many reasons I have to be grateful. I am especially grateful for my TAS family and so proud of the work they do every day to make a difference in the lives of so many taxpayers.
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