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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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June 15, 2022   |   2022 tax year, Form 1040, IRS, Medical Expense, Mileage...
Midyear Mileage Rate Increase

Oustide gas station at night. trick parked by one of the pumps

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

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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 30, 2021   |   2021 Tax Season, Form 1040, IRS, Itemized Deductions (Schedule A), Medical Expense...
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

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December 21, 2021   |   2021 Tax Season, Form 1040, IRS, Mileage, Refund...
Odds & Ends 2022 Mileage Rates

pile of gifts wrapped in metallic gold and metallic red gift paper

  In case you haven’t heard, Congress gave the IRS and all taxpayers like you a gift for Christmas (maybe not what you expected). They have paused the Build Back Better debate for 2021. The law may be considered again for passage in 2022 session. IF the law had been passed this late in the … Odds & Ends 2022 Mileage Rates

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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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November 9, 2021   |   2021 Tax Season, IRS, Standard Deduction, Taxes...
MUSICAL CHAIRS & 2021 TAX RATES

Hand writing on a bank book or ledger

    Congress is still hammering out provisions of the Build Back Better plan. Some provisions have been modified and other provisions have been removed. The bank reporting of deposits of $600 or more have been changed to $10,000 or more (contacting Congress DOES change things?!).  So looking to those things that are already determined … MUSICAL CHAIRS & 2021 TAX RATES

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October 13, 2021   |   Collection, IRS, Tax Due, Taxes...
IRS Working with Private Debt Collection Agencies AGAIN!

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

If its been more than a year since you paid on or contacted the IRS for that annoying tax debt, the IRS may refer your account to a private debt collection agency.  However, the IRS only works with a handful of agencies.  Here’s how to know if that collection letter is legitimate:  Collection letter comes … IRS Working with Private Debt Collection Agencies AGAIN!

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October 5, 2021   |   IRS, Refund, Refunds, Taxes...
Internal Revenue (But No) Service . . .

Hands with pitcher pouring water into a glass

  Tried to call the IRS lately? Nobody answers the phone (or so it seems). Return processing is slow. As June 25, 2021, there were approximately 16.7 million 2019 and 2020 tax returns and almost three million amended returns waiting to be processed*.   Then there’s the advanced Earned Income Credit and unemployment over payment stimulus … Internal Revenue (But No) Service . . .

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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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