Many taxpayers can legitimately claim the recovery rebate credit on their 2021 federal income tax returns. But many remain confused on who qualifies.
Author: Susan Tompor, Detroit Free Press
More than half of tax returns already filed, average refund amount up 12% from last year
Average refunds, at $3,263, continue to be up through March 25, according to IRS data. Tax professionals say boosts to some credits are helping.
IRS says stimulus check mistakes are among reasons for tax refund delays
The IRS backlog of tax returns, paper returns and stimulus-related mistakes from 2021 is slowing down processing this year.
Sticker shock: Monthly payments on used cars jump to nearly $500. Yes, used cars.
Paying top dollar for bigger, more expensive SUVs and trucks is forcing drivers to hand over more than ever each month to cover their car payments.
New rules for 2021 taxes may mean bigger refund for young workers, retirees with side jobs
The earned income credit applies to some who might not realize it. Those with no qualifying children can get up to $1,502 – nearly triple from 2020.
IRS is ‘buried’ in paper backlog, creating tax season anxiety so high that even tax pros want relief
Tax professionals prepare for high stress levels after many individuals and small business owners faced lengthy refund delays in the past two years.
The IRS backs down from facial recognition plan to verify identities
The uproar over requiring a photo to verify an identity involved ID.me accounts at IRS.gov — not electronically filing a tax return.
These issues could delay your tax refund in 2022: What to know before you file
Many people plan to cover bills – or buy items now – because they expect a big tax refund soon. Here’s why some refunds will face delays in 2022.
Don’t forget: Jobless benefits are taxable on 2021 tax returns
People may be confused because the rules changed temporarily for many people last year, thanks to some pandemic-related relief efforts.
Outraged by credit card, mortgage, bank fees? Here’s who wants to hear from you
How much do financial fees obscure the true cost? Some big banks cut overdraft fees, but the Consumer Financial Protection Bureau wants more progress.