Tag: Tax Refund

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You might owe the IRS money if they sent you a letter about an error in your stimulus check

Evidently there was a math error made by the IRS, resulting in millions of Americans accidentally receiving stimulus checks they should not have. Now, they need to pay the money back. The IRS recently sent letters to Americans that owe the stimulus ... MORE
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Some families are missing their $300 and $600 October Child Tax Credits, here’s what to do

Some families were set to receive $600 this month instead of $300 because it was their first month filing. Many who opted in this way aren’t regular tax filers. Unfortunately many families did not get the payment. A glitch in September left ... MORE
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Will IRS get tax refunds, stimulus payments arrive by December? Will bank, Venmo, or CashApp transactions be targeted in 2022?

Is the IRS going to get all tax returns and refunds processed by the end of the year? Will they finally be given the chance to go after those who use payment platforms like CashApp or Venmo? Last month Democrats proposed that ... MORE
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Overpay on unemployment tax? Here’s what the IRS is doing to get you a check

Due to the pandemic, a portion of unemployment benefits in 2020 were made to be untaxed. Normally, unemployment is taxable income. So if you paid taxes on them, you may be due some money. Do I get a refund for taxes on ... MORE
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Treasury Inspector General for Tax Administration releases report saying IRS missed millions in fraudulent claims

The Treasury Inspector General for Tax Administration has released a report that requires the IRS to find a better way at identifying fraudulent tax returns. Fraudulent refunds have been identified with returns filed by nonresident workers in the U.S. or U.S. territories ... MORE
IRS, News, Tax Refund
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Here’s why it will take even longer for the IRS to process backlogged, delayed tax returns and refunds

Millions of Americans are still owed tax refunds by the IRS, but the agency insists it’s making progress. The IRS was crushed by staffing issues, regulatory changes around 2020 tax filings this year, and technical issues. At this point, the Internal Revenue ... MORE
IRS, News, Tax Refund, Tax Return
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File your taxes for free with IRS’s Free File before Friday’s final deadline

Free File is software that the IRS offers for people who are below a certain income so they can file their taxes for free. Anyone who has an adjusted gross income of $72,000 or less can file with Free File. The IRS ... MORE
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There’s only one week left until the federal tax deadline, don’t forget or it’ll cost hundreds in penalties

Deadlines for 2020 taxes this year were in May, but many opted to file for the extension which is up Oct. 15. The deadline, which is normally in April, was extended to May 17. Taxes still needed to be paid in May, ... MORE
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Millions of American taxpayers owe the IRS following stimulus check math error

The Taxpayer Advocate Service recently conformed that the IRS has distributed 9 million notices to taxpayers between Jan. 1 of this year to July 15. According to KTVU, this means that people who claimed the recovery rebate may have had a math ... MORE
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Some parents will get an additional $1,400 stimulus check next year

Any family that welcomed a new baby during 2021 will see the $1,400 next year when they file their taxes in 2022. During 2021 parents received $1,400 for each child thanks to the American Rescue Plan Act. Other parents had their baby ... MORE
IRS, News, Stimulus, Tax Refund
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Millions still waiting for tax refunds: When will the IRS catch up or answer the phone?

Millions of Americans are still waiting for 2020 tax refunds. Where’s my tax refund? What is my tax refund status? Those are the questions Americans have, and there are few answers being provided by the IRS. These people filed taxes on-time, completed ... MORE
IRS, News, Tax Refund
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IRS submits request to update “Where’s My Refund” tool

The IRS has decided they will finally update their “Where’s My Refund?” tool as thousands still wait for their 2020 tax refunds. When people check the tool, they’re often met with the “pending” result, and no other details. The Taxpayer Advocate Service ... MORE
Business, News, Tax Refund
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Is the letter from the IRS about stimulus checks a scam, or real?

Many taxpayers have received a letter in the mail recently claiming to be from the IRS, but they’re worried it’s fraudulent. Turns out it’s legitimate. Some people claimed a Recovery Rebate Credit on their 2020 tax returns for not receiving all stimulus ... MORE
IRS, News, Stimulus, Tax Refund
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IRS is denying certain credits on tax return refunds; find out what to do if you received a notice

The IRS this year has already sent out 11 million refunds to taxpayers with a “math error” notice. This means they changed the amount owed in taxes or refunds. This doesn’t mean there was necessarily an error, and there is a time ... MORE
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People are still waiting for their unemployment tax refund; IRS has 436,000 stuck in the Error Resolution System

Due to the American Rescue Plan Act, many Americans who filed their tax returns before the tax break existed are entitled to a $10,200 tax exemption. This made it so unemployment checks that were sent during the pandemic would not count as ... MORE