Tax Planning

Taxpayers have more items to navigate this year than ever before, all while working with an IRS that is increasingly underwater.

The IRS has one request for Americans looking to get their tax refund as quickly as possible: File your return electronically and as soon as possible.

Although the IRS paid out the last monthly installment of the expanded child tax credit in December, millions of parents should be on the lookout for a letter from the agency that will help them collect the remaining half of the money when they file their 2021 tax returns.

The IRS will kick off the 2022 tax-filing season in a state of crisis as it grapples with a backlog of millions of unprocessed returns from one of the agency's "most challenging years."

The Internal Revenue Service will kick off the 2022 tax season this month, although it's already warning taxpayers to brace for delays as the agency wrestles with a massive pileup of unprocessed returns accrued during the pandemic.

The Internal Revenue Service said Monday that it will begin accepting 2021 individual income tax returns on Jan. 24 – and administration officials are already warning of a “frustrating” season as the agency grapples with a backlog of returns from previous years.

Year-end tax planning always matters, but new or temporary tax-code changes make it different this year.

The IRS said in a statement Wednesday that those impacted by Hurricane Ida in parts of New York and New Jersey will be offered an extension to file various individual and business tax returns—similar to the relief already provided to victims in Louisiana.

The IRS is missing the required information for millions of American households that could potentially qualify to receive the expanded Child Tax Credit, a new report shows.

Oregon Democrat Sen. Ron Wyden on Tuesday introduced a bill that would eliminate the qualified business income deduction – implemented as part of the 2017 Tax Cuts and Jobs Act – for wealthier business owners.

Tax season will be coming to a close later than usual this year, due to the May 17 extended deadline. Until that time, you might hear advertisements from car dealerships urging you to bring in your refund or pandemic stimulus check to buy a new car.

CPA Daniel Geltrude explains what you need to do to get your tax refund as quickly as possible.