Oct 16, 2023 | IRS, Tax Adjustment
Projected Annual Gap Rises to $688 Billion The IRS released new tax gap projections for tax years 2020 and 2021 showing the projected gross tax gap increased to $688 billion in tax year 2021, a significant jump from previous estimates. The new estimate reflects a rise...
Apr 5, 2022 | IRS, tax season
Even though the Internal Revenue Service issues most refunds in less than 21 days for taxpayers who filed electronically and chose direct deposit, some refunds may take longer. Many different factors can affect the timing of a refund after the IRS receives a return. A...
Apr 6, 2021 | Tax Credit, Tax Deductions, tax season
Tax season is here and sadly, taxes are an annual occurrence for most of us. With all of the changes to our current economy, it is easy to forget some minor details. There are some slight changes to tax policy since this year was the start of a new administration...
Feb 22, 2021 | Tax Adjustment
The Internal Revenue Service provided greater flexibility, due to the pandemic, to employee benefit plans offering health flexible spending arrangements (FSAs) or dependent care assistance programs. Under the COVID-related Taxpayer Certainty and Disaster Tax Relief...