Interest rates on unpaid taxes are going up

Interest rates on unpaid taxes are increasing. The rate will go up to 5% for underpaid taxes beginning July 1, 2022 per the Internal Revenue Service. The interest rates are determined on a quarterly basis. The IRS interest rate was a mere 3% on March 31, 2022 then rose to 4% for the second quarter. Don’t …

Keep Reading

Common after tax season issues

After filing your tax return you may be wondering what is next, and may ask yourself “what if there are any issues with my return?” Here are the most common after tax season issues you may face: WHERE’S MY REFUND? Your taxes have been filed and you are eagerly awaiting your refund.  How long will …

Keep Reading

Paper filings are the IRS’s Kryptonite

The IRS is a mighty institution. The other half of the two sure things in life. Death and taxes. But as mighty as it is, just like Superman it has a weakness. For IRS, that weakness is paper filings. And the IRS is buried in it. It has been a problem for quite some time …

Keep Reading

Have you received mail from the IRS?

There are a variety of reasons you may receive mail from the IRS including: Having a balance due Are due for a larger or smaller refund The agency has some questions about your return Your identity needs to be verified The agency needs additional information The agency has made changes on your tax return Don’t …

Keep Reading