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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 20, 2023 | 2023
2022 Tax Season Refunds Processed in 2023 How fast will I have the CASH?!

Hopefully quicker than last year. . . according to the IRS refund cycle Chart (see below), 2022 Tax Returns (filed in 2023) with direct deposit should see refunds within two weeks. Careful! this time frame is an estimate. Technical difficulties, computer issues, Congregssional action etc could slow down processing times. 2023 IRS Refund Standard … 2022 Tax Season Refunds Processed in 2023 How fast will I have the CASH?!

August 22, 2022 | 2022
What’s in the Inflation Reduction Act of 2022?

This is the repackaged “Build Back Better Junior”, passed August 16, 2022 and WON’T reduce inflation. It’s smoke and mirrors. Little/short lived savings. Lot of Government spending and power grabs. If have time, the full text download is available here. It’s light reading– only 273 pages (Sarcasm). Summary of major provisions. Medical: Obamacare: Extends Medical … What’s in the Inflation Reduction Act of 2022?

June 15, 2022 | 2022
Midyear Mileage Rate Increase

Oustide gas station at night. trick parked by one of the pumps

Midyear Mileage Rate Increase The pain of the gas pump has gotten so bad that the IRS wants to help with a midyear mileage rate increase (Yes its only 4 cents . . .). Translation: larger tax deduction for business and medical mileage. Midyear mileage rate changes are rare. . . New IRS Mileage rate … Midyear Mileage Rate Increase

January 22, 2022 | 2022
2022 Tax Year: (as of Jan 2022) Pearls and Pains

Woman in ivory elizabethan gown wearing 3 pearl necklaces. her Hand is underneath the necklaces holding them away from her neck

Since the Build Back Better Act is stuck in the Senate 2022 tax year has a few changes (unless Congress intervenes) there will be: No Stimulus payments No Advanced Child Tax Credit Payments. Child Tax Credit reverts to $2,000 per child under age 17 Lower Earned Income Tax Credit No charitable Deduction on … 2022 Tax Year: (as of Jan 2022) Pearls and Pains

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

wood desktop with tablet pencil, pens, binder clips and calculator

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

Man & woman setting at desk with papwers. Man is covering face with hand head lowered. Woman is covering her mouth with her hand

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

pile of gifts wrapped in metallic gold and metallic red gift paper

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

calculator and notepad hand with pen is writing on notepad

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 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

October 13, 2021 | 0
IRS Working with Private Debt Collection Agencies AGAIN!

If its been more than a year since you paid on or contacted the IRS for that annoying tax debt, the IRS may refer your account to a private debt collection agency. However, the IRS only works with a handful of agencies. Here’s how to know if that collection letter is legitimate: Collection letter comes … IRS Working with Private Debt Collection Agencies AGAIN!

Welcome

My Tax Blog

January 20, 2023 | 2023 2022 Tax Season Refunds Processed in 2023 How fast will I have the CASH?!

August 22, 2022 | 2022 What’s in the Inflation Reduction Act of 2022?

June 15, 2022 | 2022 Midyear Mileage Rate Increase

January 22, 2022 | 2022 2022 Tax Year: (as of Jan 2022) Pearls and Pains

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 9, 2021 | 2021 MUSICAL CHAIRS & 2021 TAX RATES

October 13, 2021 | 0 IRS Working with Private Debt Collection Agencies AGAIN!

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