Money Today That Matters Tomorrow
Millions of tax filers are anxiously waiting for their tax return to be processed and refund to be paid. So it can be disappointing and stressful to see the following message when checking in regularly at the IRS Refund Status page and see the message, “Your tax return has not …
Reviewing their IRS account tax transcript is a technique a lot of folks attempt to use to get an update on their tax return processing and refund status; particularly if they are not getting information (or see no bars) from the standard WMR tool or IRS2Go refund status tracker app. …
Many tax filers are anxiously waiting for the IRS to provide updates on their refund release and payment date. Particularly now that the PATH act refund freeze has lifted. These are mainly folks with a processing dates out 1 to 3 weeks with daily or weekly cycle codes, per their …
Transaction codes are used on IRS tax transcripts to provide information for tax filers into what is/has happened with their tax return processing, reasons for potential delays, when a refund will be paid or why it is delayed. Given the long delays in IRS processing over the last few years and …
Under various state administered food stamp or SNAP programs, there is a sub-program called the Commodity Supplemental Food Program (CSFP) which benefits over 600,000 seniors annually. This program seeks to further help seniors and children with supplementing access to healthy foods via local USDA approved food banks and grocery distribution centers. …
The IRS is now processing refunds on a regular basis and many taxpayers are seeing their refunds approved and in the “Refund Sent” status stage. The refund payment status screen (in WMR or IRS2go) as shown below will show your payment date, as well as any messages on potential IRS …
An Offer in Compromise (OIC) is a program offered by the Treasury and IRS that allows taxpayers to settle their federal tax debt or liability for less than the full amount owed. The OIC program can provide taxpayers, be it individuals or businesses, who are facing financial hardship a road …
This graphic I saw on a reddit board busts the common myth that the more you earn the more you pay in taxes, because you get bumped up into a higher tax bracket. However thanks to America (and most countries) having a progressive taxation system, the more you earn does …
After threats by some members to cut spending on Social Security and Medicare benefits as part of debt-ceiling negotiations, Republicans as a group are now backing away from this threat. House Speaker Kevin McCarthy (R., Calif.) confirmed this when he publicly stated that he won’t seek cuts to Social Security …
A lot of people are eager to file early in hopes of getting their tax refund sooner, but also find that after filing they may have missed some key data or gotten additional information late, like a Employer W2 or 1099-X form – that is required to be reported in …
A Schedule C tax form is used, along with your personal 1040 filing, to report income and expenses to the IRS from business related to self-employment which you own as a sole proprietor or single-member LLC. Think of side-hustles or gigs you do on the side, where you make a reasonable …
Several tax companies allow you to get you filing fees and refund paid in advance, based on your estimated refund amount when filing with their tax software. But there is a clause in most of these advance fee or refund agreements that allows funds to be debited from your account …
Inflation is clearly taking a toll on the cost of filing this year with many folks reporting that the cost of filing and preparing a tax return is going up. For example for standard W2 filings with two dependents (a common tax return) the fees are nearly double in some …
In each state, U.S. territory, and the District of Columbia (D.C.), there is a maximum amount of weekly workers’ compensation that can be received if an injury occurs on or after a specific date. These amounts are adjusted annually and represent the highest rate that a worker is eligible to …