[ad_1] Bill Oxford | E+ | Getty Images Tax season is underway, and the IRS has issued nearly 8 million refunds worth about $15.7 billion as of Feb. 3, the…
Tag: Tax refunds
IRS: Residents of more than a dozen states do not need to report ‘special payments’ for welfare, disaster relief on their federal return
[ad_1] The IRS on Friday issued federal tax guidance for millions of Americans who received state rebates or payments in 2022. The announcement came about a week after the agency…
When it makes sense to buy extra paper Series I bonds with your tax refund, according to experts
[ad_1] Jetcityimage | Istock | Getty Images If you’re trying to max out the yearly purchase limit for Series I bonds, your tax refund offers an opportunity to buy even…
Don’t risk an audit. Here are four reasons the IRS may flag your return
[ad_1] dmphoto | E+ | Getty Images Tax season is underway and there’s been increased scrutiny of the IRS as the agency starts deploying part of the nearly $80 billion…
Roughly 70% of taxpayers are eligible for IRS Free File, but only 2% used it in 2022
[ad_1] AsiaVision | E+ | Getty Images Most Americans can file their taxes for free — but many don’t seize the opportunity. Roughly 70% of taxpayers qualify to use IRS…
Here’s who can claim the home office deduction on this year’s taxes
[ad_1] Morsa Images | Digitalvision | Getty Images If you worked from home in 2022, you may be wondering if you qualify for the home office deduction, which offers a…
How to figure out the best time to file your tax return: Don’t ‘race to the finish line,’ say tax pros
[ad_1] As tax season begins, you may be eager to file your tax return for a faster refund and to check the annual task off your list. For most filers,…
IRS warns tax refunds may be ‘somewhat lower.’ With high inflation, that’s a ‘double whammy’ for families, says advisor
[ad_1] Bill Oxford | E+ | Getty Images If you’re banking on a tax refund, it may be “somewhat lower” than last year’s payment, according to the IRS. Typically, you…
Tax season starts with boosted IRS workforce, new technology as agency begins to deploy $80 billion in funding
[ad_1] kate_sept2004 | E+ | Getty Images Tax season kicked off for individual filers Monday with a bigger IRS customer service team and enhanced technology as the agency begins to…
Roth IRA conversion taxes may be trickier than you expect. Here’s what to know before filing — or converting funds in 2023
[ad_1] If you made a Roth individual retirement account conversion in 2022, you may have a more complicated tax return this season, experts say. The strategy, which transfers pretax or…