East Baltimore Tax Service. Established 1998.

https://www.irs.gov/newsroom/get-ready-now-to-file-your-2022-federal-income-tax-return

Get Ready now to file your 2022 federal income tax return | Internal Revenue Service IR-2022-203, November 22, 2022 — The Internal Revenue Service today encouraged taxpayers to take simple steps before the end of the year to make filing their 2022 federal tax return easier. With a little advance preparation, a preview of tax changes and convenient online tools, taxpayers can appro...

https://www.forbes.com/sites/robertfarrington/2023/01/29/your-tax-refund-is-lower-than-expected-now-what/?sh=251aeab02287

Your Tax Refund Is Lower Than Expected: Now What? The IRS announced that tax refunds may be much smaller this year. Here's why, and what you can do moving forward.

https://www.cbsnews.com/news/tax-refund-filing-shock-2023-irs-taxes/

Americans may get a tax refund shock this year Many tax benefits instituted during the pandemic have lapsed, which means some people could see smaller refunds.

Tax Refund Shock. Refunds lower in 2023. Here is why.https://www.cbsnews.com/news/tax-refund-2023-irs-average-refund-amount/ #:~:text=In%20that%20time%2C%20the%20IRS,to%20the%20most%20recent%20data.&text=The%20average%20refund%20check%20so,averaging%20about%20%242%2C200%20per%20filer.

IRS opens 2021 Tax filing season Jan 24, 2022

IRS to open 2021 tax-filing season on Jan. 24 The IRS will start accepting 2021 individual returns on Jan. 24, 2022.

https://www.irs.gov/newsroom/irs-unveils-online-tool-to-help-low-income-families-register-for-monthly-child-tax-credit-payments

IRS unveils online tool to help low-income families register for monthly Child Tax Credit payments | Internal Revenue Service IR-2021-129, June 14, 2021 — The Treasury Department and the Internal Revenue Service today unveiled an online Non-filer Sign-up tool designed to help eligible families who don’t normally file tax returns register for the monthly Advance Child Tax Credit payments, scheduled to begin July 15.

https://www.irs.gov/newsroom/irs-begins-correcting-tax-returns-for-unemployment-compensation-income-exclusion-periodic-payments-to-be-made-may-through-summer

IRS begins correcting tax returns for unemployment compensation income exclusion; periodic payments to be made May through summer | Internal Revenue Service IR-2021-111, May 14, 2021 — The Internal Revenue Service will begin issuing refunds this week to eligible taxpayers who paid taxes on 2020 unemployment compensation that the recently-enacted American Rescue Plan later excluded from taxable income.

You can still set up direct deposit for your coronavirus stimulus check.

Direct deposit your coronavirus stimulus payment: You can still set it up with the IRS You can get your coronavirus relief check faster if you use direct deposit. Here's how to set up the electronic transfer payment with the IRS so it goes straight into your bank account.

Wishing you and your family a meaningful Easter Sunday.
From East Baltimore Tax Service your neighborhood tax preparation experts.

2020 Rebates: Most Frequently Asked Questions
Why is Congress proposing to pay rebates to individuals?
The public health and economic consequences of COVID-19 are significant. These rebates help Americans afford what they need during this public health crisis, as many are experiencing a significant cash crunch.
When will the rebates be distributed?
The Internal Revenue Service (IRS) will work to deliver rebates quickly in the form of advance payments. For people who filed a federal income tax return in 2018 or 2019, payment processing will be based on payment or address information already on file with the IRS. Electronic distributions will be automatic to an account the payee authorized January 1, 2018 or later.
How large are the rebates?
The amount of the rebate depends on family size. The payment is $1,200 for each adult individual ($2,400 for joint filers), and $500 per qualifying child under age 17. The advance payment of rebates is reduced by $5 for every $100 of income to the extent a taxpayer’s income exceeds $150,000 for a joint filer, $112,500 for a head of household filer, and $75,000 for anyone else (including single filers).
Do rebates need to be repaid?
No, rebates do not need to be repaid. If an individual experienced an income loss in 2020 or if they have an increase in family size, they may be able to claim an additional credit of the difference when the individual files their 2020 tax federal income tax return in 2021.
How will rebates be delivered?
It depends. Rebates will be delivered automatically—by the IRS—to most Americans who file individual federal income tax returns. When available, electronic direct deposit will be used in place of mailing a physical check.
Many individuals don't need to file a tax return. Are non-filers eligible for rebates?
Yes. There is no earned income requirement to be eligible for a rebate, but non-filers may need to take additional steps to receive their rebates. The Social Security Administration will share information for Social Security (Old-Age, Survivors, and Disability Insurance) beneficiaries with IRS to help ensure these beneficiaries receive an automatic advance payment. The IRS will conduct a public awareness campaign to reach other non-filers and provide them with information on how they can access rebates.
How will a person who has recently moved access rebates?
The IRS will determine payment delivery systems for everyone entitled to rebates.
Will the rebates affect my eligibility for federal income-targeted programs?
No, the rebate is considered a tax refund and is not counted towards eligibility for federal
programs.
What identification requirements apply to receive rebates?
Taxpayers must have Social Security Numbers for themselves and their qualifying children in
order to receive rebates.