Average Tax Refunds Surge in 2024 Tax Season Factors Behind the Increase in Average Tax Refunds According to CBS News, amidst the ongoing challenges of inflation, there’s a glimmer of relief for many Americans as they receive their tax refunds for the 2024 tax season. Recent data from the IRS reveals that the average tax … Read more
Deadline Approaching: Reminder of Expiring COVID Tax Credit Opportunity for Overlooked Individuals: Seizing the Recovery Rebate Credit According to KSN News, as the May deadline looms, taxpayers are reminded of the impending expiration of a critical tax credit established during the COVID-19 pandemic. The Recovery Rebate Credit designed to provide relief to individuals impacted by … Read more
Inflation-adjusted Tax Brackets and Deductions Boost Refunds Proposed Child Tax Credit Changes Aim to Aid Low-Income Families According to First Coast News, millions of Americans have received their tax returns and many are seeing larger refunds this year. The Internal Revenue Service reports that refund amounts are 2% higher than in 2023 with an average … Read more
Implications of a Potential Shutdown on IRS Operations Congressional Action and Uncertainty Surrounding Federal Funding According to CNet, the possibility of a government shutdown looms due to deadlines for a proposed federal spending deal on March 1 and March 8 which could affect agencies like the IRS. If a shutdown occurs during tax season, it … Read more
As the tax season 2024 begins, people eagerly anticipate word on their 2024 tax refund. If you’ve already filed your return, this page will help you find and monitor the status of your anticipated IRS refund. 2024 Tax Refund: IRS Accepting Returns With the opening of the 2024 tax year, the Internal Revenue Service (IRS) … Read more
Tax season brings the anticipation of refunds, providing relief for individuals who overpaid taxes. The U.S. Treasury issues tax refunds to those who have overpaid on their state or federal returns. This typically occurs when employers withhold more money than necessary from employees’ paychecks. Additionally, self-employed taxpayers who file quarterly estimated tax returns also benefit … Read more