Refund Scams – Did You Know?

As tax filing season ends and individuals start receiving their refunds, taxpayers should be aware of a refund scam that may be making the rounds. The scammer starts by stealing taxpayer information through hacks, […]

Possible Reasons for 2021 IRS Tax Refund Delays

Most taxpayers who file their returns electronically and request direct deposit generally receive their IRS refunds within 21 days. However, a variety of factors can result in longer return processing times. The IRS recently […]

Filing Extensions and Minimizing Penalties – Did You Know?

Taxpayers who request an automatic extension to file their 2021 federal income tax returns may file anytime up until October 17th, 2022. Remember, however, that an IRS extension is only an extension to file […]

Multiple IRS Deadlines Fall on April 18th – Important Reminders

2021 INDIVIDUAL FEDERAL TAX RETURN FILING: U.S. resident individual and joint tax filers, along with U.S. citizens must file 2021 Form 1040 or 1040-SR and pay any tax due. If you cannot file your […]

Tax Refund Myths – Did You Know?

There can be uncertainty around the timeline for receiving IRS tax refunds. Here are a few common questions related to these myths, along with real-world answers. Q: Can I get a more accurate refund […]

Federal Tax Extensions – Did You Know?

If you file for an extension on your federal income tax return, you have until Oct 15th, 2022 to file your taxes but you still have to pay any taxes due by April 18th, […]

Unclaimed 2018 IRS Refunds Deadline – Did You Know?

The IRS has issued a reminder that time is running out to claim your 2018 tax refund if you did not file a 2018 federal return. The deadline to file a 2018 IRS return […]

Reporting Cryptocurrency Transactions – Did You Know

If you had any involvement with cryptocurrency or other virtual currencies in 2021, you generally must disclose this activity on your tax return. Form 1040 includes the question, “At any time during 2021, did […]

2021 IRA Contributions Deadline

If you choose to contribute money to your IRA by April 18, 2022, you may designate the contribution for the tax year 2021. Americans of any age may make 2021 IRA contributions, up to […]

Interest Received on 2021 Tax Refunds

During 2021, the IRS paid interest to many Americans who had to wait longer than usual for their 2020 federal tax refunds. Unlike the refunds themselves, most IRS interest payments are taxable income. However, […]