The term “digital asset” is new to the 2022 tax year. In previous years, the IRS called the category “virtual currency” and did not explicitly discuss non-fungible tokens, mining profits, or most other details seen in this year’s form. The full text of the IRS’ draft tax form ca...
in 2022 to lock in the inflation-adjusted amount. the annual gift tax exclusion has increased from $15,000 to $16,000. as a result, starting in 2022 individuals will be able to give $16,000 per year ($32,000 for a married couple) to any number of recipients, completely free of ...
According to the Protecting Americans from Tax Hikes (PATH) Act, the IRS cannot issue refunds before mid-February for tax returns that claim the Earned Income Tax Credit or the Additional Child Tax Credit. This applies to the entire refund, even the portion not associat...
The IRS toldFOX Businessthat its site was never down on Tax Day. "The IRS Online Account tool is seeing high demand, and taxpayers may experience short delays or wait times to access some features," the agency said in a statement late Monday. "For taxpayers trying to make a payment, you...
People who received the monthly payments can also check the amount of their payments by using the CTC Update Portal. If families opted out of the monthly payments, they can claim the full amount of the child tax credit on their 2021 federal tax return. This also applies to families who don...
The IRS will begin accepting and processing tax returns for the 2021 tax year on Monday. CBSN's Lana Zak sits down with Wendy Barlin, a CPA, tax strategist and professional speaker, to discuss how this tax season will be different from others -- par
The IRS Where's My Refund tool shows the refund status for the 3 most recent tax years. You can try and get a refund status via the tool for your latest refunds. If you cannot get any information via the IRS's Where's My Refund tool, you can also contact the IRS regarding this. ...
Tax season officially began on January 29. According to the latest tax season statistics, more than 71.5 million individual tax filings have been submitted to the IRS this season. This story was reported from Los Angeles. The Associated Press contributed. MoneyU.S.Personal Finance Stream...
The IRS reminds anyone who improperly claims the ERC that they must pay it back, possibly with penalties and interest. A business or tax-exempt group could find itself in a much worse financial position if it has to...
Andy Feb 16, 2022 at 12:12 PM #PATH #Tax #refunds now being released. Status updates by 2/19. Payment by 3/1. Hang in there! Reply Jonah Feb 15, 2017 at 8:05 AM 3:54PM CST. The IRS just sent out a press release. The IRS Where’s My Refund tool will not update for...