Everyone loves their income tax refund and many people depend on the cash to make ends meet. This year, there’s anxiety mixed with that anticipation, according to a survey released Tuesday. Smaller-sized refunds, potential IRS processing delays and diminished purchasing power due to inflation are the three top concerns of people who are expecting a […]
Read More(Bloomberg) — Democratic lawmakers are risking the ire of voters inflamed by this year’s tax-filing season, as the stalling of President Joe Biden’s priority economic package leaves them bereft of promised benefits. Embedded in the Build Back Better package were two provisions that Democrats designed so that the effects would be felt immediately by key […]
Read MoreThe tax year 2021 filing season is here and in the wake of the pandemic, there are different forms of tax relief and provisions that were either extended, expanded, or are new this season. Americans are also faced with a multitude of life changes that all have an impact on their 2021 taxes. For example, […]
Read MoreIn 2021, the enhanced Child Tax Credit gave millions of families some financial cushion through monthly payments. In 2022, the same tax credit might take away from the size of many income tax refunds — or even give some unanticipated tax bills — according to tax professionals who are bracing for agitated clients. “There’s going […]
Read MoreMore surprise tax refunds will go out by New Year’s, the IRS says — can you expect one? Since May, the IRS has paid billions in tax refunds to Americans who weren’t expecting money back. Direct deposits and paper checks have gone to millions of people whose tax bills for last year were reduced after […]
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