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Social Security increasing wage base to $160,200 in 2023

Social Security increasing wage base to $160,200 in 2023

The Social Security Administration (SSA) gave retirees and other recipients of the program's payments good news this week. Next year, they'll get an 8.7 percent cost-of-living increase. That's the highest in more than 40 years, and comes on the heels of this...

Some States Are Sending Out Stimulus Checks—Is Yours Next?

Some States Are Sending Out Stimulus Checks—Is Yours Next?

With little immediate relief from the federal government to respond to record inflation, 18 states are sending —or have already sent—payments to taxpayers.. And while some of these payments are for hundreds of dollars, they’re unlikely to have a big impact on...

IRS NEWSLETTERS

IRS NEWSLETTERS

When the IRS needs to ask a question about a taxpayer’s tax return, notify them about a change to their account, or request a payment, the agency often mails a letter or notice to the taxpayer. Getting mail from the IRS is not a cause for panic but, it should not be...

IRS backlog at 8.2 million tax returns

IRS backlog at 8.2 million tax returns

The Internal Revenue Service says it has made progress this summer in reducing its COVID-created paperwork backlog. In fact, it has caught up on last year's stacked up filings that didn't have issues. "The IRS is opening mail within normal timeframes and all...

Why Don’t deposit a wrong IRS refund check

Why Don’t deposit a wrong IRS refund check

Remember earlier this summer when a South American worker got a paycheck of more than $165 million Chilean pesos, or nearly $184,000 in U.S. dollars? It was a mistake. And while the man reported the overpayment to his supervisors, he also decided to take the...

Tax moves to make this August

Tax moves to make this August

Summer's winding down, with schools opening their doors across much of the country in just a few weeks. So of course, you're thinking of one last getaway to escape the sweltering dog days. But before you head out to a beach retreat or cooler mountain cabin, take a few...

Tax moves to make if you missed Tax Day

Tax moves to make if you missed Tax Day

 you missed Tax Day. It happens. Don't panic. But don't dawdle. The Internal Revenue Service is serious about wanting your tax forms and, of course, any taxes you owe. If you miss the annual deadline, regardless of exactly when it falls, then you'll likely end up...

Tax-filing Moves

Tax-filing Moves

If you've yet to file your 2021 return, here are five tax tasks to complete as the April 18 filing deadline nears. 1. Decide what you're going to do about your 2021 return. With Tax Day just two weeks away, the IRS still is waiting on millions of returns. Are you...

Why hiring a Tax Consultation Company is important?

Why hiring a Tax Consultation Company is important?

Tax Consultation Correct financial guidance will undoubtedly assist you in properly planning your business capital. When it comes to taxes, having a thorough understanding of tax credits and deductibles can save you a lot of money. This may cause one to run out of...

What to Consider When Hiring a Tax Preparation Service

What to Consider When Hiring a Tax Preparation Service

Tracking down the right specialist to assist you to prepare for taxes requires knowing your alternatives. Here is what to think about while recruiting a tax preparation Houston TX service. Across the United States, above 1.2 million Business Tax...

Benefits of Hiring a Tax Consultant

Benefits of Hiring a Tax Consultant

Tax Filing Consultant Do you find it difficult to file your income taxes? If yes, then you are not alone in it. Many people find filling their taxes onerous because it requires accounting and taxation acumen. But, you can reach out to a tax filing consultant to get...

Who is a Tax Consultant, and What Do They Do?

Who is a Tax Consultant, and What Do They Do?

Tax Consultation Tax consultants give you advice about how to effectively deal with the various kinds of transaction problems related to your property, income, sales, and business. Nobody wants sagging business deals. Our company Falls Credit N Tax Houston, Texas...

Why Tax Preparation Services Are Necessary?

Why Tax Preparation Services Are Necessary?

Tax preparation is not an easy task. It involves deep knowledge and understanding and has certain difficult aspects that a normal person can’t grasp. Also, it needs a lot of time and can be hectic for a person who is running against businesses that include taking care...

Child Tax Credit 2021: Who Gets $3,600?

Child Tax Credit 2021: Who Gets $3,600?

The child tax credit is bigger and better than ever for 2021, which should make things a little easier for families taking a financial hit during the COVID-19 pandemic. Thanks to the American Rescue Plan Act of 2021 ("American Rescue Plan"), the credit amount is...

President Biden’s  $3,600 Child Tax Credit Through 2025

President Biden’s $3,600 Child Tax Credit Through 2025

Families are getting a bigger and better child tax credit for 2021. And, if President Biden gets his way, most of the credit enhancements will continue to be available for several more years while full refundability of the credit will be permanent. Thanks to the...

Monthly Payments of the 2021 Child Tax Credit Will Begin in July

Monthly Payments of the 2021 Child Tax Credit Will Begin in July

After doubts about whether it was up to the task, the IRS says it's on schedule to start sending monthly child tax credit payments this summer. The American Rescue Plan  offers American families a bigger and better child tax credit for 2021. For this year only,...

10 Quick Tips for Your 2020 Taxes

10 Quick Tips for Your 2020 Taxes

Are dollars, documents and deductions on your mind this month? Even if you trust your tax preparation to a professional, here are some tips that are particularly relevant given the changes that have taken place over the past year. Perhaps some of them are pertinent to...

New Exclusion of up to $10,200 of Unemployment Compensation

New Exclusion of up to $10,200 of Unemployment Compensation

To help taxpayers, the Internal Revenue Service announced today that it will take steps to automatically refund money this spring and summer to people who filed their tax return reporting unemployment compensation before the recent changes made by the American Rescue...

IRS tax refund status

IRS tax refund status

Where is my tax refund? That's the question many ABC11 viewers are asking Troubleshooter Diane Wilson as they await their money.WASHINGTON -- IRS Commissioner Charles Rettig on Thursday said the millions of Americans whose tax returns have been caught in a processing...