Tag Archives: IRS
Form 1099-K – More Time Given by IRS
Last week, the IRS made some much-needed additions to its frequently asked questions page. These new additions were made regarding form 1099-K, which is the form used to report information about taxpayers’ use of third-party payment networks.… Continue reading
New IRS Commissioner Daniel Werfel Begins Term
Just a few short days after the United States senate confirmed him, Daniel Werfel reported to IRS headquarters to get down to business. He was approved sometime last week by a relatively thin margin of 52-42. Part of the job … Continue reading
Senator Manchin Says He Will Not Approve Biden’s Pick for IRS Commissioner
Last week, Joe Manchin who is a Democrat and West Virginia senator announced that he will not approve the president’s nomination for commissioner of the Internal Revenue Service. According to Manchin, one of the biggest reasons he is voting against … Continue reading
False W-2 Claims – A New Scam This Tax Season
The IRS is warning taxpayers to be aware of a new tax scam this season involving Form W-2. According to the agency, scammers are trying to convince taxpayers to use their wage information on a tax return to falsely … Continue reading
IRS To Lengthen The Lookback Period For Taxpayer’s Refund Claims
In Notice 2023-21, the Agency announced on Monday that it’s going to lengthen the lookback period for refund claims for returns with due dates that were postponed by two earlier notices in 2020 and 2021. This is a positive … Continue reading
IRS Commissioner Nominee Appears Before Congress
Last week, a confirmation hearing was held for Daniel Werfel, who is the next nominee for commissioner of the Internal Revenue Service. Although both sides of the aisle had a plethora of questions for Werfel, it does appear that both … Continue reading
IRS Announcement – Certain State Rebates & Payments Don’t Need to be Reported
Last week was frustrating for both filers and tax professionals. The reason for this frustration stems from tax filings being held up, due to the federal tax statuses of certain state payments. These special state payments were made by 21 … Continue reading
IRS Gave Out Almost 8 million in Tax Refunds, Here is the Average per Taxpayer
With tax season in full swing, taxpayers across the country are already receiving their refunds. As of February 3rd, the IRS has issued nearly 8 million refunds for a total of about $15.7 billion. This number is sure to skyrocket … Continue reading
SOTU: Biden Calls for Higher Taxes on Corporations and Wealthy
When the President addressed the great nation last week, one thing that was brought up several times was higher taxes on big corporations and wealthy individuals. There were several instances when the president urged Congress to approve measures that would … Continue reading
IRS Taxpayer Assistance Centers to Add Saturday Hours Amid Busy Season
For the next 4 months, Taxpayer Assistance Centers across the country will be adding special Saturday Hours. The hours will be 9 a.m. to 4 p.m., on Feb. 11, March 11, April 8 and May 13. Offices in dozens of … Continue reading