The Internal Revenue Service today provided a checklist of reminders for consumers as they get ready to submit their 2022 tax returns, in order to assist taxpayers as they navigate the start of tax filing season. These quick actions will simplify tax preparation in 2023, from gathering documentation to completing a tax return: 1. Compile […]
12 million refunds are released when the IRS completes automated repairs of tax year 2020 accounts due to the exclusion of unemployment benefits.
For individuals who overpaid taxes on unemployment benefits they received in 2020, the Internal Revenue Service recently finished the final adjustments to their tax year 2020 accounts. The American Rescue Plan Act of 2021, which was signed into law in March 2021, exempted up to $10,200 in 2020 unemployment benefits (or up to $10,200 for […]