Your tax refund will be smaller this year: IRS report

The IRS has confirmed that taxpayers who take the standard deduction instead of itemizing their taxes will not be able to make charitable contributions.

[{"selector":"#anim-b72b3a6c-cf70-4c13-b97c-991bc0babfa9 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] CREDIT GETIMAGE

[{"selector":"#anim-59facc5b-b525-4211-bb56-e34250d35f9c","keyframes":[{"transform":"scale(1)","offset":0},{"transform":"scale(1.5)","offset":0.33},{"transform":"scale(0.95)","offset":0.66},{"transform":"scale(1)","offset":1}],"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] The 1099-K form used by third-parties is now figured out by single transactions over $600. The 1099-K form used by third-parties is now figured out by single transactions over $600. CREDIT GETIMAGE

[{"selector":"#anim-ce72e250-1b4f-40da-884c-3de166ec1c93 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] The last triggering limit for this form was $20,000 in total transactions. The last triggering limit for this form was $20,000 in total transactions. CREDIT GETIMAGE

[{"selector":"#anim-0a341715-66fa-4da0-9076-228e919edd2c [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(12.514648210040342%, 0, 0) translate(25%, 0%) scale(1.5)","translate3d(0%, 0, 0) translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.14,.34,.47,.9)","fill":"forwards"}] Therefore, for taxpayers who did not receive their Economic Impact Stimulus payments, some larger refunds were allocated for tax years 2020 and 2021 when filing their claims. Therefore, for taxpayers who did not receive their Economic Impact Stimulus payments, some larger refunds were allocated for tax years 2020 and 2021 when filing their claims. CREDIT GETIMAGE

[{"selector":"#anim-9c115065-885d-4c30-a409-89582dab1920","keyframes":[{"transform":"scale(1)","offset":0},{"transform":"scale(1.5)","offset":0.33},{"transform":"scale(0.95)","offset":0.66},{"transform":"scale(1)","offset":1}],"delay":0,"duration":1450,"easing":"ease-in-out","fill":"both","iterations":1}] Thus the Premium Tax Credit and Clean Vehicle Credit are expanded tax credits that may be available to certain taxpayers. Thus the Premium Tax Credit and Clean Vehicle Credit are expanded tax credits that may be available to certain taxpayers. CREDIT GETIMAGE

[{"selector":"#anim-304f0ab5-0e23-4333-8c9c-c9a886acdd27 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate3d(-12.514648210040342%, 0, 0)","translate3d(0%, 0, 0)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"both"}] As of November 12, 2022, there are 3.7 million unprocessed individual returns that the IRS has accepted. Additionally, 900,000 unprocessed Form 1040-Xs were available for amended tax returns. As of November 12, 2022, there are 3.7 million unprocessed individual returns that the IRS has accepted. Additionally, 900,000 unprocessed Form 1040-Xs were available for amended tax returns. CREDIT GETIMAGE

[{"selector":"#anim-f7145692-13ec-4c1d-b940-90d31f37b5c2 [data-leaf-element=\"true\"]","keyframes":{"transform":["translate(0%, 0%) scale(1.5)","translate(0%, 0%) scale(1)"]},"delay":0,"duration":2000,"easing":"cubic-bezier(.3,0,.55,1)","fill":"forwards"}] The IRS is processing these amended returns and the timeline may exceed 20 weeks in that order. The IRS is processing these amended returns and the timeline may exceed 20 weeks in that order. CREDIT GETIMAGE

Your tax refund will be smaller this year: IRS report

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Your tax refund will be smaller this year: IRS report

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The IRS has confirmed that taxpayers who take the standard deduction instead of itemizing their taxes will not be able to make charitable contributions.

The IRS has confirmed that taxpayers who take the standard deduction instead of itemizing their taxes will not be able to make charitable contributions.

Your tax refund will be smaller this year: IRS report

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