Davidson News

Davidson News

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

61.8 Million Tax Returns Processing: Worth $135.2 Billion in Refunds – Online Filing Remains Popular Choice!

Tax Returns Processing Online Filing of Tax Returns According to CNET, as the 2024 tax season nears its end the IRS is busy handling tax returns and giving back money although it’s not as much as last year. Even though it started six days later than in 2023, the IRS has already processed over 61.8 … Read more

Federal Tax Refunds Surge, but Issuance Declines: Impact on Taxpayers

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

Monthly $500 Stimulus Checks Available for a Year – Here’s How!

Filing Past Tax Returns for Unclaimed Refunds Ensuring Access to Stimulus Funds According to The US Sun, despite the passing of the April 18th tax deadline, Americans can still file previous tax returns to claim unpaid refunds including stimulus payments. Eligibility for the largest stimulus checks amounts is determined by income with individuals earning under … Read more

Last Chance Alert: IRS Urges Claiming COVID Tax Credit Before Deadline Expires

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

The Surprising Upsurge in Tax Refunds This Year

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

Tax Return Turmoil: State Refund Delays Tied to eService Processing Woes

Delays Persist for Michigan Earned Income Tax Credit and Retirement Tax Rollback Michigan Treasury Department Addresses Backlog with Progress in Tax Return Processing According to 13 On Your Side, compounding the issue further are the delays encountered in processing tax returns associated with the Michigan Earned Income Tax Credit which stands at a notable 30%, … Read more