Tax attorneys and accountants say that those who want their refunds quickly should file electronically and ask for a refund via direct deposit to their accounts. “If at all possible, file electronically, and request that you receive your refund by direct deposit,” tax attorney Adam Brewer told Nexstar on Friday. “I know no one really…
Experts Reveal How to Get 2023 Tax Refund Back as Quickly as Possible
Americans Fleeing Overtaxed States, Moving to Florida
Recent data shows that Americans are fleeing high-tax states, and a vast number of them are headed for Florida. A report released on Jan. 30 by the National Association of Realtors (NAR) shows that 26 states saw more people moving in than out. The rest saw people leaving for other states. The top five states, attracting…
Experts Warn New IRS Tax Rules Are a ‘Double Whammy’ for Families
After the Internal Revenue Service issued several releases warning about potentially lower tax refunds this filing season, some analysts say that it could put strain on some families who may have anticipated an expanded child tax credit. Analysts Sound Off Financial expert Lynnette Khalfani-Cox told NPR on Jan. 22 that there are “four main reasons”…
These States Are Still Sending Out Stimulus Checks in 2023
While there are likely no federal stimulus checks being handed out in the near future, some states are still issuing stimulus payments or rebates in 2023. Colorado Colorado residents who obtained an extension and filed their taxes by the Oct. 17, 2022, deadline will receive a $750 rebate, or $1,500 for joint filers, by Jan. 31. People…
These States Are Still Sending Out Payments in 2023
While there are likely no federal stimulus checks being handed out in the near future, some states are still issuing payments or rebates in 2023. Colorado Colorado residents who obtained an extension and filed their taxes by the Oct. 17, 2022, deadline will receive a $750 rebate, or $1,500 for joint filers, by Jan. 31. People who…
Democrat Policies to Burden American Businesses With Higher Taxes This Year
January 24, 2023
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Businesses in the United States are set to face a bigger federal tax burden in 2023 due to Democrat policies and the phasing out of Republican tax overhauls, combined with an expected raise in corporate minimum tax for billion-dollar companies. The Inflation Reduction Act (IRA) included several changes due to which businesses will face higher…
IRS Says Tax Filing Season Starts Monday: Here’s What to Expect
The official tax-filing season will start Monday, Jan. 23, and the Internal Revenue Service says the amounts might be different than last year. “This filing season is the first to benefit the IRS and our nation’s tax system from multi-year funding in the Inflation Reduction Act,” said acting IRS Commissioner Doug O’Donnell in a recent news…
Taxes Shrink Year-End Bonuses
By Kelley R. Taylor From Kiplinger’s Personal Finance Question: I just got my year-end bonus, and it’s a lot less than I expected because of taxes. Is there any way to avoid taxes on bonuses? Answer: First and foremost, bonuses are taxed because they are considered taxable income. But the IRS also considers bonuses to…
Social Security Changes for 2023
By Sandra Block From Kiplinger’s Personal Finance Question: I recently retired at 63 and claimed Social Security. But I plan on working part-time to earn some extra money. Would that reduce my Social Security check? Answer: If you file for Social Security before you reach full retirement age (66 to 67 for most workers) and…
How to Reduce Taxes at the Last Minute
As the end of the year gets closer and your options to lower your taxes are on your mind, you likely are wondering how to reduce taxes in the time remaining. There are only a few days left to make those deductions, but you do still have some options. Make a Contribution to a Retirement…
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