According to the IRS, they are “opening mail within normal timeframes and all paper and electronic individual refund returns received prior to April 2021 have been processed if the return had no errors or did not require further review. As of December 31, 2021, we had 6 million unprocessed individual returns. Unprocessed individual returns include… Read More
[Originally published on Forbes.com] John Sheeley couldn’t believe what he was hearing. He was listening to brand new IRS Commissioner Charles Rettig deliver a keynote address at a tax conference in the summer of 2019. Commissioner Rettig told the group of tax professionals that, in addition to the obvious staff shortages and budget cuts, another… Read More
Last Monday, Treasury Department officials took the preemptive step of warning taxpayers that the upcoming tax season, which begins on Monday, January 24 and runs through April 18 (as of this writing), will be messy and could see delays. Pointing to staffing shortages and paperwork backlogs, officials said taxpayers will likely face frustrations similar to… Read More
The CARES Act and the more recent legislation (it doesn’t have a catchy name so I’ll call it CARES2) have created an above-the-line adjustment for certain charitable contributions. Pro-tip: If it’s “above the (AGI) line” it’s an adjustment to income; if it’s below the (AGI) line it is a deduction. If you are a #taxpro… Read More
Next time you think a #taxpro “just puts numbers in boxes” consider this map. Now, there are some people who call themselves taxpros but who won’t help you once you are out of that first green box. Those are the ones who put numbers in boxes and disappear when you have a problem. Unenrolled… Read More
In support of National Small Business Week, May 5-11, the Internal Revenue Service is emphasizing the many IRS online resources available to help small business owners and self-employed individuals handle the tax aspects of their business. For more than 50 years, the week has recognized the important contributions of America’s entrepreneurs and small business owners.… Read More
The government shutdown is over until February 15th. That means that IRS workers will be able to return to work and get paid for it. Of course, already understaffed and overworked, they are now facing a huge backlog of returns when e-filing season officially opens on Monday. The CAF unit (that processes our representative power… Read More
You know, in general (in marketing terms) I get a pretty good “open” response on the e-mails I send to clients. But that response is often 50-60% which means that many of you aren’t opening or reading my e-mails (and maybe aren’t reading this blog either). In any case, every summer I offer clients a… Read More