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Tag Archives: 2022

Top 3 Tax Fraudsters of 2022

As the 2022 tax season is behind us and a new one is already beginning, the IRS has released a yearly report listing the top tax offenders of 2022. This list consists of the usual schemes that are seen by … Continue reading

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IRS Audit Rates Declined In 2022

According to a new report, the IRS audited fewer taxpayers last year than in 2021. However, high-income taxpayers ($1 million + net worth) saw a slight increase in their audit rates for FY 2022 after years of decline. This was … Continue reading

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IRS Backlog Will Continue into the 2023 Tax Season

According to a new report, the IRS is expected to fail to reach its goal of catching up on the millions of unprocessed returns, a number that is expected to rise exponentially next year.… Continue reading

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You Can Still Reduce Your 2022 Tax Bill with Some Last-Minute Moves

It’s not too late to reduce your 2022 tax bill. While the deadline for most tax-saving moves has passed, there are still a few things you can do to lower your tax burden before the end of the year. Here … Continue reading

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Itemized Deduction Planning 2022

There are two ways you can take deductions on your federal income tax return: you can itemize deductions or use the standard deduction. Deductions reduce the amount of your taxable income. The standard deduction amount varies depending on your … Continue reading

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2022 Vehicle Depreciation and Deductions

In general, if you use vehicles in pursuit of a trade or business, you can deduct the ordinary and necessary expenses incurred while operating the vehicle. Taxpayers may use either the standard mileage rate method or the actual cost method … Continue reading

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Protect Yourself From These Potential IRS Scams in 2022

As the filing deadline is approaching and we’re headed down the final stretch of tax season, most Americans are fed up with the stresses of dealing with the IRS and have not gotten much help in return. As if this … Continue reading

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