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IRS Issue – ID.me No Longer in Play

 

The IRS has decided that they will no longer be using a private facial recognition system to authenticate taxpayers’ online accounts. This announcement goes against the IRS’ original plan and comes not far behind criticism from both sides of … Continue reading

 

3 Ways to Cope with Tax Season Stress

 

“… in this world, nothing can be said to be certain, except death and taxes.” – Benjamin Franklin

With dramatic quotes like that (from one of our founding fathers, no less), it’s no wonder why more than 50% of … Continue reading

 

The $8,000 in Aid for Children or Dependents

Most U.S. families with children are familiar with the federal Child Tax Credit, given that parents of more than 60 million kids received enhanced payments in 2021. However, many may not know there’s another tax benefit geared towards parents

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NYS Unemployment Fraud: Take Caution

 

As the United States faced the COVID-19 pandemic, enhanced unemployment benefits were given in an attempt to keep as many people home as possible. Recently, there has been a spike in reported unemployment fraud as several individuals have … Continue reading

 

3 Stories to Start Your Week: February 7, 2022

Here’s Why Your Tax Return May Be Flagged By the IRS

 

Although some say that the chances of an audit are slim, there are still factors that should be taken into consideration to avoid your return being flagged by … Continue reading

 

2022 Tax Planning: Optional Standard Mileage Rates

Intro

Businesses generally can deduct the entire cost of operating a vehicle for business purposes. Alternatively, they can use the business standard mileage rate, subject to some exceptions. The deduction is calculated by multiplying the standard mileage rate by

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IRS Letter 6419 – What to Know

Overview

The IRS began sending out a letter containing critical information regarding the Child Tax Credit in late December 2021. As filers began to receive Letter 6419 , taxpayers have been reporting getting incorrect information on the amount they’ve received.

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3 Stories to Start Your Week: January 31, 2022

 

CTC to Cause Smaller Refunds?

 

Tax refunds are expected for most Americans, as 3 out of 4 taxpayers typically receive a check from the IRS after filing a return. This year, however, many American’s may be surprised by a

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House Introduces Bill to Speed up EITC Refunds

 

Democratic leaders of the Main-Tax-Writing Committee have introduced legislation to reverse delays on tax refunds for those who receive the Earned Income Tax Credit. The Earned Income Tax Credit (EITC) is a refundable tax credit focused on helping … Continue reading

 

IRS New ID system for Online Accounts


The IRS
 has recently implemented a new system for identifying and verifying taxpayers’ identities. The system will require those wishing to access their online tax accounts or self-help tools to submit a selfie & a photo of their driver’s license.

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