Recent Articles
Since June 2022, the US housing market has declined by 2.5 percent.
The rise in mortgage rates last year froze the housing market, resulting in the greatest yearly decline in sales of previously owned homes in more than a decade. The US housing collapse has now entered its fifth month, with a...
The IRS is developing 1099 guidance for middle-class tax refunds in California.
The organization had previously stated that it was drafting guidelines for the 19 states that would offer refunds of some kind in 2022. The IRS advised last Friday that taxpayers in California who received a Middle-Class Tax Refund and an...
On Form 1040 for 2022, the IRS will use “Digital Assets” rather than “Virtual Currency.”
All taxpayers must respond to a question about digital assets on their 2022 tax forms. On the second day of the 2023 filing season, the IRS reminded taxpayers that any digital asset-related income must be declared when they submit their...
In Oregon, tax season got off to a rocky start.
The Oregon Department of Revenue mailed personal tax refund information to the incorrect address for 5,000 taxpayers. The Oregon Department of Revenue admitted on Thursday that it transmitted personal tax refund information to the wrong address for around 5,000 individuals....
Tax Credit and Deduction Reform Could Reduce Refunds or Raise Taxes in 2023
Certain child and dependent tax credits have been cut, and the charitable deduction that some taxpayers took advantage of during the epidemic years is no longer as simple to claim. The IRS began taking tax returns in late January, and...
IRS Launches Free Online 1099 Form Filing Portal for Businesses.
Forms 1099 filed on paper should decrease in 2023 thanks to the Information Returns Intake System. The Information Returns Intake System (IRIS), a new online portal that the IRS announced on Wednesday, now allows businesses to submit Form 1099 series...