On August 8, 2023 Ohio will have a special election for Issue One which addresses Ohio Constitutional Amendment Procedure. Under current Ohio law, Ohio citizens can petition for an Ohio Constitution amendment. Amendments are adopted if: 1. if the Secretary of State receives the proposed amendment with 1,000 verified signatures from Ohio citizens qualified to … 2023 Issue 1-Yes NO!! Maybe So . . .
Hopefully quicker than last year. . . according to the IRS refund cycle Chart (see below), 2022 Tax Returns (filed in 2023) with direct deposit should see refunds within two weeks. Careful! this time frame is an estimate. Technical difficulties, computer issues, Congregssional action etc could slow down processing times. 2023 IRS Refund Standard … 2022 Tax Season Refunds Processed in 2023 How fast will I have the CASH?!
IRS will start receiving returns January 23, 2023. Postal Service is feeling the inflation crunch. Postage rate for 1st class mail will increase Sunday (January 22, 2023) to .63 for a first class letter.
Early Christmas gift. . . On December 23, 2022 the IRS decided to delay implementation of the 1099K reporting for tax year 2022. Translation: The American Rescue Act (2021) required E commerce platforms (e.g. Ebay, Mercari, Amazon) to provide a 1099K form to sellers receiving more than $600 through the platform website. The … Tax newsletter update–1099K rules
From the Christmas Tax Newsletter, published December 14, 2022: FACTS & FIGURES, TBA=To be announced Tax Year 2022 2023 Social Security COLA 5.9% 8.7% Part B premium- income < $85,000 170.10 164.90 Early, … Facts and Figures
Midyear Mileage Rate Increase The pain of the gas pump has gotten so bad that the IRS wants to help with a midyear mileage rate increase (Yes its only 4 cents . . .). Translation: larger tax deduction for business and medical mileage. Midyear mileage rate changes are rare. . . New IRS Mileage rate … Midyear Mileage Rate Increase
The bill that would make Roe vs Wade into Federal law did not pass the Senate. . . bill is dead for now. . . let’s us continue to Think, Speak and Act . . . (John Adams) Thanks for your Prayers and Contacts. . .
No new tax legislation seen yet. . . After tax season housekeeping: Refunds: Running 3-4 weeks. To check the status of your Electronically filed tax return/refund: Phone : 1-800-829-1040 or (call early in morning) Online: www.irs.gov/refund IRS will NOT release refund information to tax preparer. Ohio refund may come before Federal or IRS refund. … Tax Season and Congressional Legislative Update
IRS started accepting 2021 individual returns on January 24, 2022. It’s not going to be the same as in prior years. Expect refund delays. As of January 27, 2022 haven’t received any guidance for return processing time or refunds. To speed refund delivery: 1. File early 2. File an accurate return. Verify the Stimulus … Tax Season Update–The Opener
Since the Build Back Better Act is stuck in the Senate 2022 tax year has a few changes (unless Congress intervenes) there will be: No Stimulus payments No Advanced Child Tax Credit Payments. Child Tax Credit reverts to $2,000 per child under age 17 Lower Earned Income Tax Credit No charitable Deduction on … 2022 Tax Year: (as of Jan 2022) Pearls and Pains