Tag: taxpayer

  • Questions You May Still Have After Filing Your Tax Return

    Questions You May Still Have After Filing Your Tax Return

    If you’ve successfully filed your 2022 tax return with the IRS, you may think you’re done with taxes for another year. But some questions may still crop up about the return. Here are brief answers to three questions that we’re frequently asked at this time of year. When will your refund arrive? The IRS has…

  • Businesses: Get Ready for the New Form 1099-NEC

    Businesses: Get Ready for the New Form 1099-NEC

    There’s a new IRS form for business taxpayers that pay or receive nonemployee compensation. Beginning with tax year 2020, payers must complete Form 1099-NEC, Nonemployee Compensation, to report any payment of $600 or more to a payee. Why the new form? Prior to 2020, Form 1099-MISC was filed to report payments totaling at least $600…

  • What Will Your Marginal Income Tax Rate Be?

    What Will Your Marginal Income Tax Rate Be?

    While the Tax Cuts and Jobs Act (TCJA) generally reduced individual tax rates for 2018 through 2025, some taxpayers could see their taxes go up due to reductions or eliminations of certain tax breaks — and, in some cases, due to their filing status. But some may see additional tax savings due to their filing…