Tax Forms

Presented below is our summary of significant Internal Revenue Service (IRS) guidance and relevant tax matters for the week of February 13, 2023 – February 17, 2023. February 13, 2023: The IRS released Internal Revenue Bulletin 2023-7, which highlights the following: Revenue Procedure 2023-9: This procedure provides new rules and conditions for implementing the optional […]

This story is part of Taxes 2023, CNET’s coverage of the best tax software, tax tips and everything else you need to file your return and track your refund. Instituted in 1997, the child tax credit is one of the biggest tax breaks available to US families, providing parents with thousands of dollars for each

Avoid stress, scams this tax season Published 10:00 am Wednesday, February 22, 2023 For many people filing U.S. tax returns — especially those doing it for their first time — it can be a daunting task that’s often left to the last minute. But if you want to avoid the stress of the looming deadline,

Mediapunch / Shutterstock.com U.S. household debt has skyrocketed to the highest level since the 2008 financial crisis in 2022, according to a new analysis by WalletHub. According to the report, the country closed out 2022 with roughly $320 billion more in total debt than it started the year with, and households collectively owed $17 trillion

This story is part of Taxes 2023, CNET’s coverage of the best tax software, tax tips and everything else you need to file your return and track your refund. The 2023 tax season is in full stride: The IRS reports it’s received almost 29 million federal returns and issued more than 13 million refunds since

This story is part of Taxes 2023, CNET’s coverage of the best tax software, tax tips and everything else you need to file your return and track your refund. Almost three years after the COVID-19 pandemic sent millions of Americans home to work remotely, many employees have stayed there, not planning to return to in-person

By Elizabeth Renter Consumers who can least afford it are spending billions to file their taxes, when they could do it free through an IRS program. Here’s how to access it. This article is reprinted by permission from NerdWallet. The estimated share of tax filers who took advantage of a free filing program has grown

For months, the IRS has warned taxpayers that federal income tax refunds could be “somewhat lower this year.” As of February 3, the IRS had already refunded almost $16 billion from about 19 million 2022 tax returns. But so far, this year’s average federal tax refund amount of $1,963 is almost 11% lower than refunds