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Mileage Rates Increases Again
Back in January, we notified you of the 2022 increase in mileage rates to 58.5 cents per mile for business use. But as gas prices have continued to rise in […]
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More Businesses Need to E-File
A recent report by the Treasury Inspector General (IG) for Tax Administration focused on the need for the Internal Revenue Service to expand its electronic filing capabilities to better manage […]
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2022 Connecticut Child Tax Rebate
The Connecticut General Assembly recently authorized a child tax rebate of $250 per child with a maximum of $750 to help families with children. To be eligible, you must meet […]
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Letters Sent to Taxpayers Missing Qualified Opportunity Fund Information
Did you invest in a Qualified Opportunity Zone Fund (QOF) in 2021? If so, you may have received, or may still get, a letter from the IRS if you need […]
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Educator Deduction Increases for 2022
After 20 years with no increase, educators will be able to deduct up to $300 of out-of-pocket classroom expenses when they file their federal income tax return for tax year […]
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Tax Gap Close to $1 Trillion
IRS Commissioner Charles Rettig told members of the House Committee on Oversight and Reform’s Government Operations Subcommittee that the gap between taxes owed and taxes collected by the Internal Revenue […]
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Don’t Fall for These IRS Myths
False info about taxes is not all that uncommon, but recently the IRS addressed the following common myths about refunds: Myth 1: Calling the IRS or visiting an IRS office […]
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IRS & Treasury Working Hard to End Pandemic Backlog
Deputy Secretary of the Treasury Wally Adeyemo and IRS Commissioner Charles P. Rettig outlined an aggressive plan to end the backlog. One of the most challenging tax seasons in history, millions […]
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Your Next Call to the IRS Could be Answered by a Bot
It has been well documented that the IRS is understaffed and far behind on processing returns. To help answer some of the easier questions from taxpayers, the IRS has announced that […]
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Make Sure You Report All Income on Your Returns
Did you drive Uber to make some extra money this year? Or dabble in cryptocurrency? The IRS is reminding taxpayers of reporting and potential tax obligations from working in the gig […]
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Check Refund Status Online for Quickest Answer
It is well documented that the IRS is understaffed, underfunded, and behind on processing returns. So if you want to know the status of your refund, calling them is not […]
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Luxury Auto Depreciation Caps & Lease Inclusion Amounts for 2022
The IRS has issued the luxury car depreciation limits for business vehicles placed in service in 2022 as well as the lease inclusion amounts for business vehicles first leased this […]
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