The National Association of Enrolled Agents is pushing the IRS to use some of its $80 billion in increased funding to fix its Practitioner Priority Service. The tax pros wrote in a letter to the acting head of the IRS … Continue reading
News & Articles
United States Gas Prices Lower Now Than a Year Ago
In the United States currently, gas, on average is at a lower price than a year ago. The summer was a particularly rough month for Americans when it came to filling up their tanks due to the rapid rates of … Continue reading
NY Lawmakers Eye Revamped & Expanded Child Tax Credit
Lawmakers in New York looking to get more cash back into the pockets of residents by restructuring the Child Tax Credit. Backers of the newly proposed model which was unveiled on Thursday, say that this restructure could decrease child poverty … Continue reading
Waiting on a Tax Refund? IRS Will Now Pay You Interest
Currently, millions of Americans across the country are still awaiting their tax returns from the 2022 filing season. However, the longer taxpayers are left waiting, the more money they might see in their pockets when they do receive the refund. … Continue reading
FTX “Accounting Error” Rejected – Coinbase CEO Says Funds Were Stolen
Brian Armstrong, who is the Chief Executive Officer at Coinbase slammed FTX CEO Sam Bankman-Fried. Armstrong strongly disagrees with the FTX owner’s story of how his company ended up with $8 billion in debt.… Continue reading
Florida Lawmakers Working to Reverse a Law Stripping Disney’s Special Tax
In April of this year, Florida’s House of Representatives stripped Disney of its special tax status. As it stood before, Disney’s theme park in Orlando, Florida, was taxed under different rules than the other theme parks throughout the state. They … Continue reading
IRS Says Your Tax Refund May Be Smaller in 2023
If you are expecting a tax refund for the 2023 tax year, it may be smaller than you originally hoped for, according to the IRS. Usually, you will receive a federal refund if you’ve overpaid yearly taxes or withheld … Continue reading
IRS to Raise Interest Rates for Q1 2023
In an announcement made on Tuesday, the Internal Revenue Service said that interest rates for the 1st quarter of 2023 (Jan. 1) will be increasing. This is due to the near 40-year highs of inflation the country has experienced over … Continue reading
IRS Pushing to Close Annual Tax Gap
As part of Congress’s additional $80 billion in funding over 10 years (which was included in the Inflation Reduction Act), the Government Accountability Office is pushing the Internal Revenue Service to do more to close the $428 billion annual … Continue reading
Home Equity Line of Credit (HELOC) – Basic Breakdown
A home equity line of credit, or HELOC, is a second mortgage on your home that gives you access to cash based on the value. A HELOC is typically used for larger expenses or to consolidate higher-interest-rate debt on other … Continue reading