The IRS announces the typical November 26, 2026 shutdown of the efiling tax system to prepare their computers for the upcoming 2023 tax season that is to file 2022 US tax returns! It now means paper filing until some pint in January 2023 when the IRS announces a re-opening. 1040 MeF Production Shutdown Schedule Shutdown […]
IRS reminds us that for taxpayers that did not file by April 15, 2022 and extended their 2021 filings to October 17, 2022 filing Form 4868 filing, this deadline is quickly approaching. That this was an extension of time to file not to pay, as the payment penalty will not be postposed. However with the […]
IRS reminds taxpayers in IR-2022-174 of the Form 114 FBAR, that the extended October 17, 2022 deadline is approaching! Filers affect by a natural disaster in Puerto Rico, Florida, North Carolina and South Carolina may have their FBAR due date further extended. WASHINGTON – The Internal Revenue Service today reminds U.S. citizens, resident aliens and […]
The IRS announces with IR-2022-124 an increase in the 2022 tax season standard mileage rates for business, medical, moving and charitable purposes. Of course its due to the Covid-19 related inflationary pressures… The Internal Revenue Service today announced an increase in the optional standard mileage rate for the final 6 months of 2022. Taxpayers may […]
The deadline for most Americans to file their federal tax returns in 2022 is April 18, instead of the usual April 15 date. This is because of a holiday recognized in the nation’s capital. Most states that have their own income tax reporting. The deadline for most Americans to file their federal tax returns in […]
The IRS explains in Tax Tip 2022-76 how getting married can affect your US income tax filings, from changing your name, addresses, changing your withholdings and adjusting your filing status, in addition to how kids summer camp can affect the Child and Dependent Care Credit and working Part Time. Now that the April filing deadline […]
Under IRC Sec 911(d)(4)- Waiver of Time Requirements- The IRS allows for under extraordinary circumstances both the BFR and PPT minimum time requirements to be waived if you must leave a foreign country due to war, civil unrest or similar adverse conditions. The IRS publishes a list of the countries that qualify for this […]
IRS reminds taxpayers in IR-2022-73 of the Form 114 FBAR, not to worry as these are generally extended beyond April or June 2022 all the way to October 17, 2022 without any extension required. The Internal Revenue Service today reminded U.S. citizens, resident aliens and any domestic legal entity that the deadline to file their […]
The IRS reminds us using IR-2022-61 That there is a question at the top of Form 1040 asking about virtual currency transactions and that Taxpayers must check this box yes or no, if they “At any time during 2021, did you receive, sell, exchange, or otherwise dispose of any financial interest in any virtual currency?” […]
The IRS reminds us that the Child and Dependent Care Credit was expanded for the 2021 US tax year, for taxpayers with an Adjusted Gross Income of under $438,000, it is 8,000 per qualifying person up to 2 qualifying persons or $16,000, where a qualifying dependent is a dependent 12 years old or younger (age […]
