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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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My Tax Blog

January 20, 2023 | 2023
2022 Tax Season Refunds Processed in 2023 How fast will I have the CASH?!

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?!

September 28, 2022 | 2022
Energy Jolts, Inflation Bolts, Tax Hikes and Pending Legislation

Energy Jolts. Energy Credit is back. Effective for 2022 –2032 tax years. Part of Inflation Reduction Act of 2022. Requires product availability and affordability. Credit is 30% of purchase price for energy star certified windows, exterior doors, insulation, water heater, biomass stoves, furnace or boiler installed during the year. No credit for Energy Star roof … Energy Jolts, Inflation Bolts, Tax Hikes and Pending Legislation

January 28, 2022 | 2021
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

January 22, 2022 | 2022
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

January 10, 2022 | 2021
Tax Cliff Notes: Filing? Credits? Refunds?

wood desktop with tablet pencil, pens, binder clips and calculator

IRS plans to start accepting individual tax returns on January 24. Tax preparers may be preparing returns before January 24 so they can be filed as soon as the IRS is ready. Taxpayers receiving Earned Income Credit or Child Tax Credit on the return may have a delayed refund. IRS is statutorily allowed to … Tax Cliff Notes: Filing? Credits? Refunds?

December 30, 2021 | 2021
Year End Tax Savings. . . for 2021

Man & woman setting at desk with papwers. Man is covering face with hand head lowered. Woman is covering her mouth with her hand

The year is over tomorrow and taxes were back burnered. . . (no pressure). What to do, don’t want to owe . . . As requested. . . For individuals: Pay outstanding medical bills. Keep track of total medical paid (doctor, hospital, labs, prescriptions, medical mileage, medical insurance paid out of pocket etc) for … Year End Tax Savings. . . for 2021

January 1, 2021 | 2021
Stimulus Payments Part 2

As you may have heard, President Trump signed the “COVID Relief Part 4 ( Formally known as Continuing Appropriations Act of 2021)” into law recently. Payment amount will be $600 per qualified recipient ($1200 per Married Couple) plus $600 per dependent child claimed on the tax return. As before, no payments are available for … Stimulus Payments Part 2

October 23, 2020 | 0
COVID Reveals a BROKEN “Tax Cookie Jar” for At Home Employees

A question received: I’ve worked from home since March 2020 because of COVID. Can I claim my home office expenses on my 2020 taxes? The tax year and the employment status (employee vs sub contractor or self employed) matters. For 2020 tax year, there may be a home office tax deduction for: 1. Subcontractor (No … COVID Reveals a BROKEN “Tax Cookie Jar” for At Home Employees

October 7, 2020 | 0
How to Handle a Tax Notice (“Bill”)

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It’s Tax Notice season, IRS, State and Local Tax Districts are issuing those wonderful “love letters” for tax due . . . questions: 1.Is the Notice legitimate? 2.Is it Correct? 3.How to respond? Legitimacy: If the Tax Notice (“Bill”) has spelling or grammar errors, asks for payment in bit coin or cash cards or threatens … How to Handle a Tax Notice (“Bill”)

August 27, 2020 | 0
IRS Pays ME Interest?!

Yes, under certain conditions. FOR TAXPAYERS: The IRS must pay interest if the taxpayer’s tax refund is paid more than 45 days after the tax return due date. Because of the COVID-19 shutdown, some individual taxpayer refunds have interest added. Extra money from the IRS . . .Yay! Careful: CATCH22!! IRS interest received is taxable. … IRS Pays ME Interest?!

Welcome

My Tax Blog

January 20, 2023 | 2023 2022 Tax Season Refunds Processed in 2023 How fast will I have the CASH?!

September 28, 2022 | 2022 Energy Jolts, Inflation Bolts, Tax Hikes and Pending Legislation

January 28, 2022 | 2021 Tax Season Update–The Opener

January 22, 2022 | 2022 2022 Tax Year: (as of Jan 2022) Pearls and Pains

January 10, 2022 | 2021 Tax Cliff Notes: Filing? Credits? Refunds?

December 30, 2021 | 2021 Year End Tax Savings. . . for 2021

January 1, 2021 | 2021 Stimulus Payments Part 2

October 23, 2020 | 0 COVID Reveals a BROKEN “Tax Cookie Jar” for At Home Employees

October 7, 2020 | 0 How to Handle a Tax Notice (“Bill”)

August 27, 2020 | 0 IRS Pays ME Interest?!

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