All articles tagged with #tax season
Originally Published 5 days ago — by IRS (.gov)
The IRS advises taxpayers to prepare early for the 2026 filing season by reviewing new tax laws, using online accounts, opting for direct deposit, and reporting income from digital assets and online sales to ensure a smooth tax filing process.
Originally Published 8 days ago — by NBC 5 Chicago
Employers are required to send out W-2 forms to employees by January 31, each year, reporting wages and taxes withheld, with the tax filing deadline set for April 15.
Originally Published 3 months ago — by Federal News Network
The IRS has begun mass furloughs and shut down most operations due to a government shutdown extending beyond initial plans, with uncertainties around back pay for furloughed employees amid political debates.
Originally Published 3 months ago — by Axios
Treasury Secretary Scott Bessent appointed Frank Bisignano, currently overseeing Social Security, as the first-ever CEO of the IRS, aiming to streamline operations amid staffing challenges and upcoming tax law changes, with potential implications for the upcoming tax season.
Originally Published 1 year ago — by MLive.com
As Tax Day 2024 arrives, several national restaurant chains are offering free or discounted food to help ease the financial burden of tax season. Deals include free sandwiches for Arby's Rewards members, $10 off orders over $40 for California Pizza Kitchen rewards program members, a buy one get one free offer for Krispy Kreme doughnuts, and various discounts and freebies at TGI Friday's, White Castle, Dave & Buster's, Fazoli's, Potbelly, and Grubhub.
Originally Published 1 year ago — by Reuters
Wall Street is preparing for potential stress in money markets ahead of the U.S. tax day on April 15, as tax-related outflows could impact market liquidity. Analysts anticipate significant outflows due to high capital gains from last year's stock market boom, potentially leading to a surge in short-term interest rates. The Federal Reserve and investors will closely monitor any signs of stress, as it could impact the availability of cash in the financial sector. The level of bank reserves and the Fed's balance sheet shrinkage will be key factors in managing potential liquidity challenges.
Originally Published 1 year ago — by Greater Baton Rouge Business Report
Louisiana is among three states suing to block an SEC rule requiring companies to disclose climate change-related financial risks, while early voting for the presidential primary election has begun in the state. Additionally, tax season is underway in the U.S., prompting advice to start organizing early to avoid last-minute stress.
Originally Published 1 year ago — by The Washington Post
The IRS has launched a new government-run website called Direct File for free tax filing, available to users in 12 states for the rest of this year's tax season. Taxpayers in participating states with simple taxes can create an account and file their taxes anytime, with some exclusions for this year. The site is a test of the concept of government-run tax filing and will be continuously open, with the possibility of brief closures due to high user traffic.
Originally Published 1 year ago — by CNBC
As the tax season begins, Congress is still negotiating a $78 billion tax package that includes potential changes to the child tax credit. IRS Commissioner Danny Werfel advises taxpayers not to wait on Congress and to file their taxes when ready. The proposed changes could expand access, increase the refundable portion, and add future inflation adjustments to the child tax credit. While the bill's path forward remains uncertain, the IRS plans to make necessary system updates if the tax package is approved, and filers may receive updates on any impact to their returns without having to take additional steps.
Originally Published 1 year ago — by CNBC
Tax season has begun, and the IRS is processing 2023 returns, aiming for over 146 million individual tax returns by April 15. To expedite refunds, experts recommend filing electronically and opting for direct deposit, while cautioning against common mistakes such as inaccurate information and math errors. Most taxpayers can expect their refund within 21 days, with the option to track its status using the IRS's Where's My Refund tool.
Originally Published 1 year ago — by ABC News
The IRS is launching new programs, including Free File and Direct File, to make filing taxes easier for eligible taxpayers as the 2024 tax season begins. These options provide free filing services and expanded in-person assistance through Taxpayer Assistance Centers, made possible by supplemental funding from the Inflation Reduction Act. Electronic filing with direct deposit is recommended, and the IRS anticipates almost 129 million individual tax returns to be filed this season.
Originally Published 1 year ago — by The Washington Post
Three U.S. troops were killed in a drone strike in Jordan, Donald Trump was ordered to pay over $83 million to E. Jean Carroll, Biden vowed to "shut down" an overwhelmed border if a Senate deal passes, climate change protesters threw soup at the Mona Lisa, and the Kansas City Chiefs will face the San Francisco 49ers in Super Bowl LVIII. Additionally, the 2024 tax season officially opens today, and a mysterious noise in Tampa is keeping residents up at night.
Originally Published 1 year ago — by WBAL TV Baltimore
The IRS will start accepting 2023 federal income tax returns on Monday, and here are eight things to do before filing: know your deadlines, review last year's return, assess major life changes, check for 1099-K forms from payment apps, fill out Form 8962 for health insurance tax credits, monitor potential tax break increases, expedite your refund, and consider filing for free through the IRS's Direct File pilot program available in 12 states.
Originally Published 1 year ago — by Fox Business
Tax season has officially started, with the IRS accepting and processing 2023 tax returns. The deadline to file taxes is April 15, with exceptions for certain states and disaster areas. Taxpayers can apply for an individual tax extension using Form 4868, but filing for an extension does not delay tax payments. To receive a tax refund quickly, file electronically and request direct deposit. Taxpayers can track their refund status using the IRS' tool. The IRS has delayed a controversial tax reporting requirement for online payment apps like Venmo and PayPal until 2024.
Originally Published 1 year ago — by KABC-TV
The IRS will begin accepting 2023 federal income tax returns on Monday, and here are eight things to do before filing, including knowing deadlines, gathering necessary documents, assessing life changes, checking for 1099-K forms, filling out Form 8962 for health insurance tax credits, monitoring potential tax breaks from Congress, expediting refunds, and exploring free filing options.