In IRS IR-2026-37 the IRS reminds taxpayers that April 15, 2023 is the last date to request as refund as related to the 2022 US tax year, where currently more than 1.2 billion in tax refunds lie on the table!!! The Internal Revenue Service today announced that over 1.3 million people across the nation have […]
Protax reminds client taxpayers that the have until October 16, 2023 to file their 2022 US income tax returns, new fraud scams, tax breaks for kids, overdue taxes and revised RMD IRS dates. Did you request an extension to file your tax return after the standard April 18, 2023, deadline? If so, you now have until
The IRS reminds us under Tax Tip 2023-74 that after filing your 2022 US income tax return taxpayers can receive anyone of four (4) different types of IRS Theft ID letters, requiring them to follow a certain set of instructions prior to their tax returns being processed. Scammers sometimes use stolen Social Security numbers to […]
The IRS reminds us under IR 2023-106 that American taxpayers who reside outside the US on April 18, 2023 have an automatic two month extension to June 15, 2023 to file their 2022 US income taxes. In addition taxpayers may still file Form 4868 to request an automatic six month extension to file their 2022 […]
The IRS reminds us under Tax Tip 2023-36 that American taxpayers that they must report and pay US income tax on their worldwide income, and can use the Foreign Earned Income Exclusion found on Form 2555 and the Foreign Tax Credit found on Form 1116 to reduce or eliminate their US income tax. Further to […]
IRS reminds us in Tax Tip 2023-30 that for taxpayers that cannot file their 2022 US income tax returns by the April 18, 2023 deadline they may extend their 2022 filings to October 16, 2023 by filing Form 4868 filing, That this was an extension of time to file not to pay, as the payment […]
The IRS reminds taxpayer though IR-2023-12 that for the 2022 tax filings in 2023 once again the IRS has again changed the question on the Form 1040 re ‘Virtual Currency’ dabbling, renaming it to ‘Digital Assets’ and defining what a Digital Asset is and when a taxpayer should check Yes or No! The Internal Revenue […]
The IRS announces that have until Tuesday, January 31, 2023 to issue and files Form W-2 wage statements with the IRS and to employees. Due same date are Form 1099-MISC and 1099-NEC. The Internal Revenue Service today reminded employers and other businesses to file Tax Year 2022 Form W-2 and other wage statements by Jan. […]
The Internal Revenue Service today announced Monday, Jan. 23, 2023, as the beginning of the nation’s 2023 tax season when the agency will begin accepting and processing 2022 tax year returns. More than 168 million individual tax returns are expected to be filed, with the vast majority of those coming before the April 18 tax […]
CPA’s face extraordinary challenges for the 2023 US tax season period, although gone are the EIP payments and advanced Child Tax Credit payments…the lower filing threshold for Form 1099-K was postponed, but then there was the midyear 6/30/22 standard mileage rate change, for 2022 returns once again the IRS has again changed the question on […]
