Tag: #taxplans

How to handle a tax audit

Don't panic! The keys to success are being well prepared, establishing credibility right away, and keeping your wits about you. The IRS wanting to examine your return is quite a shock, no matter why you were chosen. You could not escape the anxiety that comes with an audit notice, even…

What Are Your Chances of Being Audited?

IRS audits are more likely to occur if you have these red flags on your return. If you are preparing to file your tax return, you may wonder if the IRS will audit it. Most people can breathe easily because the vast majority of individual returns escape the audit machine.…

2022 taxes

Tax filing rolls around every year. But every year, there also are a few changes that make the process slightly different from prior filings. We didn't have any major tax law changes in 2022. But some old rules come into play, as does the expiration of some tax breaks that…

New IRS $600 Rule For 2022 Taxes – Be Prepared This Tax Season

https://www.youtube.com/watch?v=92sX4kS5XNQ

Get Ready For 2023

WASHINGTON – The Internal Revenue Service encouraged taxpayers to take important actions this month to help them file their 2022 federal tax returns. This is the second in a series of reminders to help taxpayers get ready for the upcoming tax filing season. A ”Get Ready” page, updated and available on…

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, the credit amount for…

President Biden’s Tax Plans for the Next Few Years

With control of both the House and Senate in Democratic hands, President Biden will be able to get more of his tax agenda through Congress. Here's what could happen in the next four years. by: Andre Falls January 25, 2021 President Joe Biden's tax plans were laid out for all to…