New Tax Season, Same Tax Backlog: What You Need to Know
Another tax filing season is upon us! The Internal Revenue Service began accepting and processing 2021 returns on Monday, January 24, 2022.
Status of the IRS Backlog
According to a report issued by the Treasury Inspector General on September 2, 2021 – the IRS had a backlog of nearly 8 million paper business tax returns in 2020 due to COVID-19 pandemic.
Temporary 100% deduction for Business Meal Expenses
The IRS is continuously adding and modifying regulations and guidance for taxpayers. One such updated legislation was a temporary, 100% deduction for business meal expenses. As part of the [...]
How to Avoid Waiting for your Tax Refund in 2022
With the IRS backlog of tax returns more than tripled over last year, many Americans are still waiting for their 2020 tax refunds. So, what can you do now to avoid waiting for your refund after [...]
