Andy | Saving to Invest

Business Tax Account Transcripts Now Available Online in 2024

The IRS has introduced a new online tool for various types of corporations to manage their taxes in 2024. This includes partnerships and S corporation businesses, which are now eligible for an online IRS business tax account. These online accounts allow certain types of business entities to download transcripts and…

Should we Buy This House If The Mortgage is Double our Rent?

Here is a recent scenario I was discussing with a young couple who are first-time homebuyers considering a $360,000 house. They are currently renting a smaller apartment for $1,400 p/month. Key stats and pertinent points: Income: $140,000 combined, $7,800 per month after taxes Pre-approved mortgage: $400,000 House price: $360,000 Down…

When Can I File My Taxes in 2026: IRS Tax Season Calendar for 2025 Returns

The IRS has confirmed it will start processing 2025 tax filings and refunds from January 26th, 2026. Other important tax deadlines and dates are shown in the chart below. Although the IRS will not start accepting and processing tax returns until late January, people don't need to wait until then…

IRS Tax Thresholds Changing in 2024

There are several IRS (IRS) tax thresholds that will be changing in 2024. These changes are made to adjust for inflation (where mandated) and to ensure that taxpayers are paying the correct amount of taxes. The following are some of the likely changes that will take place in 2024 to…

What Did My Tax Return and Refund Change After Filing?

Like many tax payers I continue to check the status of my IRS refund payment and face the rather unhelpful status message below that my return is still being processed! After several weeks of checking daily this message gets old, fast. I wrote about the earlier delays with getting my…

How The Debt Celling Debate May Be Delaying Your Tax Refund Payment

Despite the IRS saying they had a much smoother and more efficient tax season (see stats below), like millions of others I am still waiting for my tax return to be processed and see my refund banked. Initially my refund was delayed beyond the standard 21 day processing timeline due…

Remote Work Tax Issues To Consider When Filing Your Return

The shift to remote work has been one of the most significant changes in the workforce accelerated by the COVID-19 pandemic. While remote work offers many benefits, including increased flexibility and improved work-life balance, it also poses several potential tax issues that employees (and employers) need to consider. In this…

How Car Rental Companies Rip You Off With Extra Fees For Linking To Your Frequent Flier Reward Program

Ever had a bad car rental experience where you felt ripped off? Then read on, my friend. Here is a recent example where I felt deceived after an Avis car rental experience. While the unexpected amount on my bill was not that much, the way I found out about the…

Your 2023 Tax Return Is Not Processed Refund Status Message

As we get into the peak of tax season, many tax payers who filed in the last few weeks are see the following message around their 2023 return not being processed as they check the status of their refund processing. So what does this mean for tax return processing and…

If You Need to Ask About Your Refund or Make Change To Your Return

Within 48 hours of submitting your electronic tax return, the IRS will notify your Electronic Return Originator (ERO) - which could be your accountant, tax preparer or tax software company - of its acceptance. In the event that your return is rejected, the IRS will inform your ERO of the…

Why Is My Child Tax Credit Refund Lower Than Last Year

Many tax filers claiming the Child Tax Credit (CTC) this year are surprised to see their refund payment much lower than expected. This is mainly due to the widely claimed tax credit resetting from a pandemic boosted maximum of $3,600 to $2,000 per child in 2022 and 2023. Another reason is that they are not…

What Happens If Never Received IRS Letter?

Its not uncommon during tax season for tax payers waiting for a delayed refund payment to be surprised that the delay was due to the fact that they never responded to one or more IRS letters mailed to them. IRS letters, or correspondence notices, detail any actions or adjustments the…

$23 Minimum Food Stamp SNAP Benefit Unchanged For Many Seniors in 2025-2026

With the end of the pandemic food stamp program (SNAP) boost, many single and dual person households are now only getting a measly $23 in monthly benefits! This minimum food stamp amount did not change in the latest SNAP monthly allotment updates published by the USDA. It also looks like…

2024 IRS Tax Refund Calendar and Direct Deposit Dates

It's the peak processing time of tax season now that the PATH act (for EITC and ACTC returns) has lifted and most tax filers have gotten the required documents to file their return. You can see the estimated IRS refund schedule/calendar below for the next 4 months, which I will update on a…