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I try to add tax blog articles weekly on tax topics that may be interesting to you. Please browse. If there is a topic you would like to see here or would like to more information on, please contact me.

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My Tax Blog

January 28, 2022 | 2021
Tax Season Update–The Opener

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IRS started accepting 2021 individual returns on January 24, 2022. It’s not going to be the same as in prior years. Expect refund delays. As of January 27, 2022 haven’t received any guidance for return processing time or refunds. To speed refund delivery: 1. File early 2. File an accurate return. Verify the Stimulus … Tax Season Update–The Opener

January 10, 2022 | 2021
Tax Cliff Notes: Filing? Credits? Refunds?

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IRS plans to start accepting individual tax returns on January 24. Tax preparers may be preparing returns before January 24 so they can be filed as soon as the IRS is ready. Taxpayers receiving Earned Income Credit or Child Tax Credit on the return may have a delayed refund. IRS is statutorily allowed to … Tax Cliff Notes: Filing? Credits? Refunds?

December 30, 2021 | 2021
Year End Tax Savings. . . for 2021

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The year is over tomorrow and taxes were back burnered. . . (no pressure). What to do, don’t want to owe . . . As requested. . . For individuals: Pay outstanding medical bills. Keep track of total medical paid (doctor, hospital, labs, prescriptions, medical mileage, medical insurance paid out of pocket etc) for … Year End Tax Savings. . . for 2021

December 21, 2021 | 2021
Odds & Ends 2022 Mileage Rates

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In case you haven’t heard, Congress gave the IRS and all taxpayers like you a gift for Christmas (maybe not what you expected). They have paused the Build Back Better debate for 2021. The law may be considered again for passage in 2022 session. IF the law had been passed this late in the … Odds & Ends 2022 Mileage Rates

December 9, 2021 | 2021
Facts & Figures 2021 Tax year & Some For Tax Year 2022

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Build Back Back Better (“BBB”) is still being negotiated So here is something a little more concrete: The numbers and limits for 2021 tax season: FACTS & FIGURES, TBA=To be announced Tax Year 2021 2022 Social Security COLA 1.3% 5.9% Part B premium- income < $85,000 … Facts & Figures 2021 Tax year & Some For Tax Year 2022

November 23, 2021 | 2021
Build Back Better, the Saga Continues

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Yes it has passed the House but it must also pass the Senate before the Bill can become law. What’s in it? That depends on which version is being discussed. Provisions will change until its submitted to the President’s desk. What’s in the House Build Back Better Plan? Careful, what is currently in it … Build Back Better, the Saga Continues

November 9, 2021 | 2021
MUSICAL CHAIRS & 2021 TAX RATES

Congress is still hammering out provisions of the Build Back Better plan. Some provisions have been modified and other provisions have been removed. The bank reporting of deposits of $600 or more have been changed to $10,000 or more (contacting Congress DOES change things?!). So looking to those things that are already determined … MUSICAL CHAIRS & 2021 TAX RATES

September 15, 2021 | 2021
Tax Increases and the Slowly Roasted Frog. . .

An old parable indicates that a live frog will consent to being cooked if the heat is slowly increased. Seems that the same principle applies to taxes. Part of the Build Back Better Act of 2021 is being crafted in the House Ways and Means Committee. It’s not law yet, but the provisions discussed … Tax Increases and the Slowly Roasted Frog. . .

August 31, 2021 | 2021
I was Getting a Refund but Got an IRS Bill . . . ?

Been getting a lot of calls for IRS Notices. Most of them seem to be related to the Stimulus Payment or “Recovery Rebate Credit”. The Recovery Rebate is a reconcile. Taxpayers not receiving the full amount of stimulus payment one (Paid out March-May 2020) or Stimulus Payment two (paid out January thru March 2021), can … I was Getting a Refund but Got an IRS Bill . . . ?

June 4, 2021 | 2020
Where’s My Refund? It’s been 6 weeks, 10 weeks, 12 weeks

Refunds are taking longer this year. Refunds are delayed if the 2020 tax year return: Claims Child Tax Credit. . For children under the age of 17 or a reduced amount for College Students or disabled children. . Refunds are subject to extra scrutiny because of fraud. Earned Income Credit . . . for … Where’s My Refund? It’s been 6 weeks, 10 weeks, 12 weeks

Welcome

My Tax Blog

January 28, 2022 | 2021 Tax Season Update–The Opener

January 10, 2022 | 2021 Tax Cliff Notes: Filing? Credits? Refunds?

December 30, 2021 | 2021 Year End Tax Savings. . . for 2021

December 21, 2021 | 2021 Odds & Ends 2022 Mileage Rates

December 9, 2021 | 2021 Facts & Figures 2021 Tax year & Some For Tax Year 2022

November 23, 2021 | 2021 Build Back Better, the Saga Continues

November 9, 2021 | 2021 MUSICAL CHAIRS & 2021 TAX RATES

September 15, 2021 | 2021 Tax Increases and the Slowly Roasted Frog. . .

August 31, 2021 | 2021 I was Getting a Refund but Got an IRS Bill . . . ?

June 4, 2021 | 2020 Where’s My Refund? It’s been 6 weeks, 10 weeks, 12 weeks

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