My Books My Taxes

You can check on the status of your federal tax refund online at IRS.gov within 24 hours of your return being e-filed or 4 weeks after it was filed by paper. Unless an error is encountered, the IRS will generally issue refunds for e-filed returns within 21 days.

The IRS has announced it will take steps to automatically refund money this spring and summer to people who filed their tax return reporting unemployment compensation before the recent law change that allows each individual who received unemployment benefits in 2020 to exclude up to $10,200 from income.

"Personal protective equipment including face masks, hand sanitizer and disinfecting wipes bought mostly to curtail the spread of the deadly coronavirus can be deducted as a medical expense when filing taxes," the IRS announced last week.

Wednesday Wisdom from your friends at My Books My Taxes

The tax code provides a variety of tax credits for individual taxpayers, some of which can only be used to offset your tax liability, while others are fully refundable. Don't overlook these substantial tax benefits.

Wondering which of President Biden's tax proposals have the best chance of becoming law? This article breaks it down.

Just in case you were hoping to have more time to get your taxes together like in 2020 - don't count on it. The IRS said Thursday it has no plans to extend the standard filing deadline of April 15.

Some insider tax knowledge from My Books My Taxes.

The Employee Retention Credit has been extended through June 30, 2021, and significantly liberalized.

Talk about taking a risk! These people decided to open new restaurants during the pandemic. Here are their stories.

Midweek Wednesday Wisdom from My Books My Taxes