The Internal Revenue Service has set Friday, Feb. 12, 2021, as the start of the nation’s tax season. That’s the day the agency will begin accepting and processing 2020 tax year returns.…
Taxing Subjects has another filing season update on the latest episode of the Taxing Subjects Podcast.…
Read more about Taxing Subjects on Tax Season Stats, Virtual Currency, and More – E42
The Internal Revenue Service says it will issue regulations on some tax law changes that affect 529 college savings plans.…
Read more about IRS to Issue Guidance on College Savings Plans
ITINs that haven’t been used at least once in three consecutive years or contain middle digits 73, 74, 75, 76, 77, 81, or 82 will expire on December 31, 2018—unless, of course, affected ITIN holders renew before the end of the year.…
How Did the TY2017 Tax Season Turn Out?We’re a few weeks removed from tax season, so we wanted to hear what tax professionals thought about the latest iteration of the January-to-April annual…
Read more about Jim Lowe & Jerry Gaddis Recap Tax Season – EP10
While most of the big tax-code changes we’ve heard about in the tax legislation passed in December don’t take effect until TY 2018, there are still a few things preparers need to keep in mind this season.…
As part of the Avoid the Rush tax tip series, the IRS yesterday reminded taxpayers about Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) refund delays. In addition to how weekends and Presidents Day fall on the calendar this year, one reason refund checks for returns claiming these credits will be delayed is the Protecting Americans from Tax Hikes (PATH) Act.…
The Internal Revenue Service yesterday released a list of five common tax season myths, as well as links to YouTube videos that explain when refunds will arrive, claiming the EITC or ACTC, and more. Newswire release IR-2017-16 aims to reduce misinformation.…
Read more about Refund Myths: Sorting Truth from Fiction During Tax Season
Being professionals, we all know how to give our clients the most accurate, best-case-scenario income tax return. But what happens after we send that return? Do you find yourself fielding call after…
Tax professionals across the country are gearing up for tax season, which the Internal Revenue Service today announced will officially begin on January 23, 2017. The press release included yet another reminder about PATH Act-delayed refunds: taxpayers claiming the Earned Income Tax Credit (EITC) and the Additional Child Tax Credit (ACTC) will not have their refund issued until February 15, 2017.…
Read more about IRS Announces the First Day of Tax Season, Issues Refund Delay Reminder
