The average tax refund amount increased nearly 11% from a year ago, totaling $3,623 for the week of March 13, according to data from the Internal Revenue Service. Meanwhile, the total amount the government has refunded has increased 12% in the same period, reaching $182.6 billion, the IRS said. Visits to IRS.gov have also increased…
The headlines scream: “Millions may be owed a COVID tax refund.” The reality is much less exciting. You may be entitled to a refund, but it will be for certain penalties assessed for tax returns filed during the pandemic. “This is a situation where a technical tax ruling could have a real impact for taxpayers,…
If you’re hoping to get a bigger tax refund this year, the window to make a difference is quickly closing. While most tax-saving strategies need to be implemented by December 31, there are still some smart money moves you can make before the April 15 filing deadline that could boost your refund or at least…
00:00 allie The IRS just released its new tax brackets and rates for the upcoming tax year, and these numbers determine how much of your income goes toward taxes. Here to break down the big changes you need to know about this tax season is senior correspondent Kerry Hannon. So, Kerry, let’s start with the…
