Claim $1.5 Billion In IRS Refunds

Apr 14, 2023 | IRS

Time’s Running Out – July 17th Deadline The Internal Revenue Service announced that nearly 1.5 million people across the nation have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. The IRS estimates almost $1.5...

Taxpayers Can Avoid IRS Penalties

Mar 15, 2023 | IRS, tax penalties

Using electronic payment and agreement options for taxpayers who owe can help avoid penalties and interest With the tax deadline approaching, the IRS reminded taxpayers they can avoid late filing and interest penalties by submitting their tax return and any payments...

Interest Rates Remain The Same For Q2

Feb 20, 2023 | Uncategorized

The IRS announced that interest rates will remain the same for the calendar quarter beginning April 1, 2023. For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily. Here is a complete list of the new rates: 7% for...

January 23, 2023 Is The Opening Date For Tax Season

Jan 16, 2023 | IRS, tax season

The IRS announced that January 23, 2023, will be the beginning of the nation’s 2023 tax season when the agency will begin accepting and processing 2022 tax year returns. More than 168 million individual tax returns are expected to be filed, with the vast...

$1.2 Billion In Tax Penalties Being Refunded

Sep 15, 2022 | IRS, tax penalties

TAX PENALTIES To help struggling taxpayers affected by the COVID-19 pandemic, the IRS issued Notice 2022-36, which provides penalty relief to most people and businesses who file certain 2019 or 2020 returns late. The IRS is also taking an additional step to help those...