Taxpayers can check the status of their refund easily and conveniently with the IRS Where’s My Refund tool at IRS.gov/refunds. Refund status is available within 24 hours after the taxpayer e-filed their current year return. The tool also gives the taxpayer a personalized refund date after the IRS processes the return and approves the refund. Where’s My Refund tool updates Recent updates to the tool mean fewer taxpayers will need to call […]

WASHINGTON – The Internal Revenue Service announced today that compliance efforts around erroneous Employee Retention Credit (ERC) claims have topped more than $1 billion so far since last fall as work continues on a number of efforts to counter questionable claims pushed by aggressive marketing, including an aggressive push on claims made for 2021. “The IRS has made important progress in our compliance efforts protecting more than $1 billion in […]

WASHINGTON – As the April 15 filing deadline approaches, the Internal Revenue Service issued a reminder to taxpayers on ways to prevent typical errors on their federal tax returns to help speed potential refunds. Collect all tax-related paperwork Taxpayers should collect all key documents, including Forms W-2 and 1099, as well as any supporting paperwork for tax deductions or credits such as educational credits or mortgage interest payments. Additionally, having […]

Inside This Issue Businesses: Review Employee Retention Credit claims by key March 22 deadline for incorrect credits; take action to avoid future issues Know the facts about receiving Form 1099-K in 2024 IRS improves Where’s My Refund? tool for 2024 What to know before completing a tax return Interest rates remain the same for the second quarter of 2024 Electronically filed returns rejected for missing Form 8962 Taxpayers impacted by […]

Some unscrupulous promoters have marketed misleading information about Employee Retention Credit eligibility rules to well-intentioned businesses. The IRS is highlighting seven suspicious signs and urging business to seek a trusted tax professional to resolve an incorrect claim while they still can without penalties or interest. There’s a deadline of March 22, 2024, for the ERC Voluntary Disclosure Program, which lets businesses who filed a claim in error and received a […]

The IRS Direct File pilot gives people an option they’ve asked for – a way to file their taxes quickly, easily, and for free directly with the IRS. It’s now available for eligible taxpayers in in Arizona, California, Florida, Massachusetts, Nevada, New Hampshire, New York, South Dakota, Tennessee, Texas, Washington, and Wyoming.   The Direct File pilot is easy to use and helps eligible taxpayers: File a 2023 federal tax return […]