Four days ago, the IRS issued an official notice, warning over a million Americans across the country that time is running out for them to claim their 2019 refunds. And a lot of money is on the line here: there is currently $1.5 billion of these refund checks that have yet to be claimed. If…
Your Tax Refund Could Be Smaller Than Last Year. Here’s Why.
NEW YORK—Expecting a tax refund? It could be smaller than last year. And with inflation still high, that money won’t go as far as it did a year ago. The more than 100 million taxpayers who have had their returns processed as of April 7 got refunds that were an average of 9.3 percent less…
Capitol Report: ‘Woke Mentality’ Is What Led to Trump Indictment Says Democratic NYC Councilman
A Democrat New York City councilmember joins us to discuss crime in the city. What factors are contributing to it, and what challenges are New York City’s finest facing? Three years after the deadly coronavirus swept the globe, there are still key data points missing. Lawmakers tell us China and our own intel community are…
How to Use a Tax Refund to Fight Inflation
If inflation has eaten away at your budget the way waves erode a beach, then your tax refund might just provide a much-needed protective barrier. As of March, prices are up 6 percent over the past 12 months, according to the most recent consumer price index. At the same time, just over half of filers…
Americans’ Tax Refunds Are 14 Percent Smaller This Year, Latest IRS Data Show
The latest IRS update on tax filing data shows that Americans’ tax refunds so far this year are considerably smaller than they were last year, something that both tax experts and the agency itself predicted. As of Feb. 10, the average refund amount stood at $1,997, the latest IRS data show. That’s 14 percent lower than the…
IRS Announces New Feature to Get Some Tax Refunds Faster
The Internal Revenue Service (IRS) has announced a new feature that will let millions of taxpayers get their tax refund money faster. For the first time, people who electronically file their Form 1040-X (Amended U.S Individual Income Tax Return) will have the option to receive their refund through direct deposit, instead of waiting for a…
IRS Recommends Taxpayers to Wait for ‘Additional Clarification’ Before Filing Returns Due to Refund Confusion
February 8, 2023
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The Internal Revenue Service has advised millions of taxpayers who have benefited from state rebate and refund payment programs to currently hold off from filing their income tax return while the agency decides on how to treat such receipts. “There are a variety of state programs that distributed these payments in 2022 and the rules…
Advance Tax Refund Provider Raises Loan Limit Due to High Inflation
January 18, 2023
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The Santa Barbara Tax Products Group, an advance tax refund provider, is raising its loan limit to take into account higher-than-average inflation. As tax season approaches, the rise in the cost-of-living expenses has placed a heavy burden on millions of American families nationwide. Although annual inflation fell to 6.5 percent last month, from its historical…
IRS to Shell Out $1.2 Billion to Taxpayers in Forgiven Penalty Fees, Here’s Who Qualifies
The Internal Revenue Service (IRS) is sending $1.2 Billion in refund or credits to more than a million Americans who filed their taxes late in the first months of the pandemic, according to an announcement on Sept. 12. Americans who missed the deadline for their 2019 or 2020 tax returns, and who have already paid…
Best Ways to Use a Tax Refund
By the first of May you have either received your tax refund or are checking every day to see if it has been deposited to your account or is in your mailbox. If you have not decided on how to use the refund, here are some suggestions on how to take advantage of this money….
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