Michigan residents are being urged to check their records and file their 2020 tax returns if they haven’t already done so, as the Internal Revenue Service (IRS) announces that approximately 35,000 individuals in the state are owed refunds totaling $38,274,800. The average refund amount for Michiganders stands at $976, with a median refund of $932. … Read more
The Internal Revenue Service (IRS) reports that over $1 billion in tax refunds from the 2020 tax year remain unclaimed, urging taxpayers to take action before the extended deadline of May 17. Across the United States, an estimated 940,000 individuals have yet to file their 2020 tax returns, with over 10,000 people in Nevada alone … Read more
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
Taxpayers across the nation are experiencing a mixed bag this tax season as federal tax refunds show a notable increase in average amount, yet the number of refunds issued has seen a decline compared to the previous year. As of March 1, the Internal Revenue Service (IRS) reported a significant rise in the average tax … Read more
The Internal Revenue Service (IRS) has announced adjustments to the tax brackets for the 2024-2025 tax season, aiming to address the issue of bracket creep caused by inflation. These adjustments could lead to larger refunds for taxpayers across the United States. The IRS’s annual inflation adjustments report reveals a 5.4% increase in income thresholds for … Read more
American citizens residing abroad are reminded of a critical deadline approaching swiftly – June 15th, 2024 – to seize the opportunity to claim their federal stimulus checks. These Economic Impact Payments, which could amount to as much as $3,200, stand as a crucial lifeline for US expats navigating financial challenges overseas. The eligibility criteria for … Read more
Taxpayers eagerly awaiting their tax refunds after filing for Earned Income Tax Credit (EITC) and Additional Child Tax Credit (ACTC) benefits in the 2024 tax season can now mark their calendars. The IRS has officially announced the refund dates for these filers, shedding light on when individuals can expect their much-anticipated refunds. According to IRS … Read more
The Department of Justice (DOJ) has taken legal action against Orlando-based tax preparer Julius T. Price and his firm, Price’s Accounting Firm Inc., following allegations of a widespread tax fraud scheme. According to court documents filed in the U.S. District Court for the Middle District of Florida, Price stands accused of preparing thousands of federal … Read more
The rising costs of higher education are a constant concern for students and families across California. With tuition fees soaring, navigating the financial landscape of academia can be daunting. However, there’s a potential solution that many may be overlooking – education tax credits offered by the IRS. Among the array of tax credits available, two … Read more
Many States Exempt from Reporting State Payments on 2022 Tax Forms Residents in Select States Spared Reporting State Payments to IRS Issues Guidance in 2022 According to CNBC, the IRS issued guidance to people who got money from their states in 2022. The IRS said that in many states people don’t need to tell them … Read more