SECURE ACT 2.0
The SECURE ACT 2.0 passes both the Congress and Senate and builds upon the original SECURE ACT that was passes several years ago.
The National Taxpayer Advocate's Office stated that during the past tax filing season the IRS had a backlog of 35 million individual and business tax returns that required some type of manual processing. (National Taxpayer Advocate, Annual Report to Congress 2021)
This backlog includes 15.8 million returns that have been ‘suspended' during processing that require further review and about 16.8 million returns waiting to be processed and about 2.7 million amended returns to be processed.
This backlog of returns includes a large number of tax returns that were sent to the IRS and there is a discrepancy with the recovery rebate credit that was claimed on the tax return with that of the IRS records.
According to the report reduced staffing combined with a large number of returns that require manual processing has forced the IRS to ‘suspend' tax returns. This means they are being set aside until the IRS staff is able to work on the tax return.
So for taxpayers who have not received their refunds and can not get further information from the IRS in regards to the status, you will just have to be patience.
IRS Awards Tax Debt Collections to 3 Private Debt Collection Agencies
Three Private Debt Collection Agencies have been awarded contracts by the IRS to collect on delinquent tax debts and will be contacting certain taxpayers
Changes to Ohio Living Will
Changes to Ohio Living Will and Health Care POA that are effective August 17, 2021
IRS Backlog 35 million tax returns
Taxpayer Advocate Office Reports IRS Backlog of Tax Returns to be Processed
How to pay your taxes with the IRS
At some point in time almost everybody will owe some taxes to the IRS but can not immediately pay. However the IRS has several options that are available when you are in this situation.
IRS Sending Refunds on Unemployment Taxes
Internal Revenue Service is mailing out millions of additional refund checks based upon the exclusion of unemployment compensation after the passage of the American Rescue Plan Act of 2021.
Update to ID Theft and Ohio Unemployment Compensation previously posted January 28th
This is an updated post to the January 28th post about ID theft and Ohio Unemployment Compensation. The Ohio Department of Job and Family Services has now created their own portal for individuals to report the Identity Theft. If this has happened to yourself or someone you know they should go t...
ID Theft and Ohio Unemployment
In Ohio there has been ID Theft in regards to unemployment compensation. If you have been a victim of ID Theft and your personal information was used to claim benefits then it is very important that you take action to protect yourself.
IRS Identity Protection PIN All Taxpayers Now Eligible
All taxpayers are know eligible to obtain an Identity Protection PIN Number in order to safeguard the filing of their tax returns with the IRS
Special Tax Deductions for 2020
Special Tax Deductions for 2020 Due to the CARES ACT that was passed in 2020 there are several special tax deductions that are available to taxpayers for this tax season. Individuals can now claim a deduction of $300 for cash donations made to a charity during 2020 even If the individual is t...
IRS Stimulus Payments
Second Round of Stimulus Payments are on its way to eligible taxpayers.
IRS is making it easier for taxpayers struggling with tax debt
IRS has issued some new COVID related collection procedures that will be helpful for taxpayers.
IRS will start sending out Balance Due Notices
The IRS announced that they will start sending out balance due notices again after they had suspended the mailing of these notices during the pandemic. The Balance Due Notices are know as the "500" Series of Notices which include (CP501, CP503 or CP504). Initially the IRS was mailing these notice...
IRS Release Draft New 1040 Form
Draft new 1040 Form offers glimpse into changes for next year
