IRS Provides Tax Inflation Adjustments for Tax Year 2023
Reading Time: 3 minutesWASHINGTON — The Internal Revenue Service today announced the tax year 2023 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2022-38 provides details about...
IRS sets January 23 as official start to 2023 tax filing season
Reading Time: 7 minutesWASHINGTON — The Internal Revenue Service today announced Monday, January 23,2023, as the beginning of the nation’s 2023 tax season when the agency will begin accepting and processing 2022 tax year returns. More than 168 million individual...
Tax tips for gig economy entrepreneurs and workers
Reading Time: 2 minutesIn recent years, the gig economy has changed how people do business and provide services. Taxpayers must report their gig economy earnings on a tax return – whether they earned that money through a part-time, temporary or side gig. The IRS Gig...
IRS completes automatic corrections of tax year 2020 accounts related to unemployment compensation exclusion
Reading Time: 2 minutesWASHINGTON – The Internal Revenue Service recently completed the final corrections of tax year 2020 accounts for taxpayers who overpaid their taxes on unemployment compensation they received in 2020. The American Rescue Plan Act of 2021, which...
Before toasting the new year, taxpayers should review this to-do list
Reading Time: 2 minutesWhether they plan to stay up to greet the new year or go to bed early, taxpayers can get ready for 2023 by reviewing these common end-of-year tasks. People can always visit IRS’ Get Ready webpage for info on filing their tax...
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