Tax & Current Accounting Topics

Debunking myths about federal tax refunds IRS Tax Tip 

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Once taxpayers file their federal tax returns, they're eager for details about their refund.

IRS reminds holders of foreign bank and financial accounts of April FBAR deadline 

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The Internal Revenue Service today reminded U.S. citizens, resident aliens and any domestic legal entity that the deadline to file their annual Report of Foreign Bank and Financial Accounts (FBAR)

Letters about third-round of Economic Impact Payments issued; important steps to take for missing payments and corrections https://www.irs.gov/newsroom/letters-...

With the completion of special mailings of all Letters 6475 to recipients of the third-round of Economic Impact Payments,

Get an automatic six more months to file; all taxpayers can use IRS Free File to request an extension 

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IRS reminder to many retirees April 1 is last day to start taking money out of IRAs and 401(k)s 

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The Internal Revenue Service today reminded retirees who turned 72 during the last half of 2021 that, in most cases, Friday, April 1, 2022,

03.25.22 IRS has $1.5 billion in refunds for people who have not filed a 2018 federal income tax return; April deadline approaches https://www.irs.gov/newsroom/irs-has-...

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Unclaimed income tax refunds totaling almost $1.5 billion may be waiting for an estimated 1.5 million taxpayers who did not file a 2018 Form 1040 federal income tax return

Tax Time Guide: Electronic tax payment and agreement options available to taxpayers who owe 

https://www.irs.gov/newsroom/tax-time... 

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The Internal Revenue Service today reminded taxpayers who have a tax bill that there are several ways to make payments, and there are options for many people who can't pay their tax bill in full by April tax deadline.

Reasons why some tax refunds filed electronically take longer than 21 days 

https://www.irs.gov/newsroom/reasons-... 

https://accountinginstruction.info/

Even though the Internal Revenue Service issues most refunds in less than 21 days for taxpayers who filed electronically and chose direct deposit, some refunds may take longer.

Easy steps to avoid tax return errors that can delay processing or adjust refunds 

https://www.irs.gov/newsroom/easy-ste... 

http://accountinginstruction.com/

The Internal Revenue Service today reminded taxpayers how to avoid common errors on their tax returns.

IRS reminds taxpayers they must check a box on Form 1040, 1040-SR or 1040-NR on virtual currency transactions for 2021 https://www.irs.gov/newsroom/irs-remi... 

http://accountinginstruction.com/

The IRS reminds taxpayers that there is a virtual currency question at the top of Form 1040, Form 1040-SR and Form 1040-NR. It asks: