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I try to add tax blog articles weekly on tax topics that may be interesting to you. Please browse. If there is a topic you would like to see here or would like to more information on, please contact me.

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August 22, 2022   |   2022 tax year, Doors, Energy Star, Form 1040, IRS...
What’s in the Inflation Reduction Act of 2022?

This is the repackaged “Build Back Better Junior”, passed August 16, 2022 and WON’T reduce inflation. It’s smoke and mirrors. Little/short lived savings. Lot of Government spending and power grabs. If have time, the full text download is available here. It’s light reading– only 273 pages (Sarcasm). Summary of major provisions. Medical: Obamacare: Extends Medical … What’s in the Inflation Reduction Act of 2022?

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January 28, 2022   |   2021 Tax Season, Form 1040, IRS, Refund, Stimulus...
Tax Season Update–The Opener

Pitcher at baseball game, action frozen mid pitch

  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

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January 22, 2022   |   2022 tax year, Doors, Energy Credit, Energy Star, IRS...
2022 Tax Year: (as of Jan 2022) Pearls and Pains

Woman in ivory elizabethan gown wearing 3 pearl necklaces. her Hand is underneath the necklaces holding them away from her neck

    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

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December 9, 2021   |   2021 Tax Season, 2022 tax year, Form 1040, IRS, Itemized Deductions (Schedule A)...
Facts & Figures 2021 Tax year & Some For Tax Year 2022

calculator and notepad hand with pen is writing on notepad

  Build Back Back Better (“BBB”) is still being negotiated So here is something a little more concrete: The numbers and limits for 2021 tax season: FACTS & FIGURES, TBA=To be announced                                          Tax Year 2021                 2022 Social Security COLA                                                                                             1.3%                           5.9% Part B premium- income < $85,000                                                                 … Facts & Figures 2021 Tax year & Some For Tax Year 2022

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September 23, 2021   |   2020 Tax Year, IRS, Recovery Credit, Refund, Tax Credit...
Love Letters & the IRS (Recovery Credit Tax Notices Part II)

woman setting at computer desk holding her head

  IRS is processing its backlog and is issuing lots of “love letters” otherwise known as Tax Notices. Many of the 2020 Tax year tax notices are for Recovery Credit.  For Tax Year 2020, Taxpayers not receiving the the full stimulus amount for both payments ($1200 per adult and/or $500 per child received March -May … Love Letters & the IRS (Recovery Credit Tax Notices Part II)

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January 20, 2021   |   2020 Tax Year, 2021 Tax Season, 2022 tax year, IRS, Refund...
Need Refund? Patience Please!

pile of $1.00 bills

  IRS is going to be running a little “late” this year. According to the information received as of today (January 15, 2021), IRS will start processing 2020 Tax Year individual Tax Returns February 12, 2021.  Tax Returns can be prepared before February 12 processing date. Estimated refund processing times for returns that refund extra … Need Refund? Patience Please!

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