Davidson News

Davidson News

$300/month for Children Under Six, $250/month for Children Six to 17: IRS Begins Distribution of 2024 Child Tax Credit (CTC) Stimulus Monthly Payments

The IRS is sending monthly Child Tax Credit payments to eligible families today to help stabilize finances and support local economies. IRS Begins Distribution of 2024 Child Tax Credit (CTC) Stimulus Monthly Payments In 2024, the IRS will give out Child Tax Credit payments monthly instead of as a yearly refund. Families who filed tax … Read more

Claim Your Share: IRS Alerts Late Fi Billion in Unclaimed Refunds

IRS Alerts Nearly 1 Million Americans: Claim Your Share of $1 Billion in Refunds Deadline Looms: Late Filers Can Still Claim 2020 Tax Refunds Before Friday Cut-Off According to WashingtonExaminer, The IRS wants to remind nearly a million Americans about their 2020 tax returns. They say around 940,000 people could get back over $1 billion … Read more

Idahoans Urged to Claim $4.4M in Unclaimed Tax Refunds Before Deadline

Idahoans Urged to Claim $4.4M in Unclaimed Tax Refunds Before Deadline

Idaho residents have until May 17 to seize their share of $4.4 million in unclaimed tax refunds, as announced by the IRS. With approximately 4,500 Idahoans yet to file their 2020 federal tax returns, each person stands to reclaim an average refund of $761. Under federal law, taxpayers have a three-year window to file and … Read more

IRS Turbocharges Tax Enforcement Targeting the Wealthy, Expanding Workforce

IRS Intensifies Tax Audits Targeting Wealthy Individuals and Corporations Tax Crackdown: IRS Focuses Audits on High-Income Earners and Large Businesses According to CBS NEWS, The IRS is getting ready to check Americans’ taxes more closely to catch those who are not paying what they owe. But not everyone will get looked at more. The IRS … Read more

IRS to Provide Detailed Explanations for Tax Return Errors Under New Bipartisan Bill

IRS to Provide Detailed Explanations for Tax Return Errors Under New Bipartisan Bill

In a bipartisan effort led by Senators Elizabeth Warren (D-Mass.) and Bill Cassidy (R-La.), along with Representatives Randy Feenstra (R-Iowa) and Brad Schneider (D-Ill.), a new bill aims to revolutionize the way the IRS handles tax return errors. The proposed legislation, dubbed the IRS Math and Taxpayer Help Act of 2024, demands greater transparency from … Read more

Arizona to Vote on Controversial “Fair Tax” Proposal

Arizona to Vote on Controversial "Fair Tax" Proposal

Arizona residents could soon find themselves at the forefront of a heated debate as the state prepares to vote on the contentious “Fair Tax” proposal. Spearheaded by Kevin McCarthy, the plan aims to overhaul the federal tax system, but critics warn of its potential pitfalls. The Origins Unveiled Originally conceived by an organization associated with … Read more

IRS Issues Warning on False Fuel Tax Credit Claims in Washington

IRS Issues Warning on False Fuel Tax Credit Claims in Washington

The Internal Revenue Service (IRS) has issued a stern warning to taxpayers in Washington state regarding false claims for fuel tax credits. The agency has highlighted the prevalence of promoters who are pushing improper fuel tax credit claims, particularly targeting unsuspecting taxpayers during tax season. The Fuel Tax Credit, intended for off-highway business and farming … Read more

Understanding Refundable vs. Nonrefundable Tax Credits – Earned Income Tax Credit, Child Tax Credit, and More!

Understanding Tax Credits: Refundable vs. Nonrefundable – Expert Tips from Tax Attorney Adam Brewer Making the Most of Refundable and Nonrefundable Tax Credits As the April 15 deadline gets closer, the IRS is reminding Americans about tax credits. These credits can lower what you owe or increase your refund, according to the report of Fox … Read more

IRS Alerts Texas Residents: $1 Billion in Unclaimed Tax Refunds Set to Expire

IRS Alerts Texas Residents: $1 Billion in Unclaimed Tax Refunds Set to Expire

The Internal Revenue Service (IRS) has issued a warning to residents of Texas, signaling the potential loss of over $1 billion in unclaimed tax refunds from the year 2020. As the May 17 deadline approaches, approximately 93,400 individuals in Texas alone could miss out on refunds averaging $932 each. The IRS Commissioner, Danny Werfel, emphasized … Read more

Texans Among Thousands with Unclaimed Tax Refunds as IRS Deadline Approaches

Texans Among Thousands with Unclaimed Tax Refunds as IRS Deadline Approaches

As the tax season unfolds, the Internal Revenue Service (IRS) is sending out a clarion call to Americans: check your records for potential unclaimed refunds before it’s too late. With a looming deadline of May 17, 2024, taxpayers across the nation, including thousands in Texas, have an opportunity to claim their share of over $1 … Read more