Tag Archives: 2023
Avoiding Scams During the 2023 Tax Season
As the 2023 tax season is in full effect, that also means it is the prime hunting season for tax scammers, according to the Internal Revenue Service. Being able to keep an eye out for potential scams while filing … Continue reading
New Tax Brackets to Take Effect in 2023
In October, the IRS announced the higher limits for the federal income tax bracket and standard deductions. For the year 2023, we will be seeing those higher federal income taxes and standard deductions take effect. This gives many Americans … Continue reading
IRS Backlog Will Continue into the 2023 Tax Season
According to a new report, the IRS is expected to fail to reach its goal of catching up on the millions of unprocessed returns, a number that is expected to rise exponentially next year.… Continue reading
IRS to Raise Interest Rates for Q1 2023
In an announcement made on Tuesday, the Internal Revenue Service said that interest rates for the 1st quarter of 2023 (Jan. 1) will be increasing. This is due to the near 40-year highs of inflation the country has experienced over … Continue reading
Lawmakers in New York Seeking Gas Tax Holiday Extension
Over the summer, New York Governor Kathy Hochul and state lawmakers agreed to a suspension of New York State’s gas tax amid the rapidly increasing prices. This holiday saved residents about 17 cents per gallon at the time. However, with … Continue reading
Huge Tax Break for Business Machinery – Must Act Fast
The 2017 tax-code overhaul has left behind quite a lucrative benefit, which is set to start being reduced in 2023. While most people rely on the classic gift or charity write-off, the end of this year is presenting people … Continue reading
IRS Adds 4,000 Employees to Assist With Next Tax Season
The Internal Revenue Service is already making headway on its initiative to hire add an additional 10,000 employees. So far, the IRS has hired 4,000 new workers that will serve as customer service representatives, this is part of the IRS’s … Continue reading