– Income must be reported even if a Form 1099-K was not received.
– A tax extension only extends the filing deadline, not the payment deadline.
– The best way to check on a tax refund is through the IRS website. – The best way to check the status of a tax refund is through the Where’s My Refund? tool at IRS.gov or the IRS2Go mobile app.
– Where’s My Refund? is the most accurate and up-to-date way to check on a tax refund, and taxpayers should only call the IRS tax help line if directed to do so by the tool.
– Delays in receiving a tax refund can be caused by various factors, and the IRS generally issues most refunds in less than 21 days.
– Different factors, such as Child Tax Credit amounts or delinquent taxes, can cause a tax refund to be smaller or larger than expected, and the IRS will notify taxpayers if adjustments have been made.
– Ordering a tax transcript will not provide information on the timing of a tax refund, and the Where’s My Refund? tool is the best way to check on refund status.
– Taxpayers should not assume they don’t need to adjust their withholding for the next year just because they received a refund this year. 1. Taxpayers should check their withholding regularly to make sure they’re paying the right amount of federal income tax from their paycheck.
2. The IRS has a Tax Withholding Estimator tool on their website to help taxpayers figure out if they’re withholding the right amount.
3. It’s important to adjust withholding after major life events like getting a new job, getting married or divorced, having a baby, or buying a home.
4. Taxpayers should always go to IRS.gov for the most accurate and up-to-date information about their taxes.
5. To avoid falling for tax scams, taxpayers should check out the Dirty Dozen tax scams for 2023 on the IRS website.
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