The IRS is now processing refunds on a regular basis and many taxpayers are seeing their refunds approved and in the "Refund Sent" status stage. The refund payment status screen (in WMR or IRS2go) as shown below will show your payment date, as well as any messages on potential IRS…
An Offer in Compromise (OIC) is a program offered by the Treasury and IRS that allows taxpayers to settle their federal tax debt or liability for less than the full amount owed. The OIC program can provide taxpayers, be it individuals or businesses, who are facing financial hardship a road…
This graphic I saw on a reddit board busts the common myth that the more you earn the more you pay in taxes, because you get bumped up into a higher tax bracket. However thanks to America (and most countries) having a progressive taxation system, the more you earn does…
After threats by some members to cut spending on Social Security and Medicare benefits as part of debt-ceiling negotiations, Republicans as a group are now backing away from this threat. House Speaker Kevin McCarthy (R., Calif.) confirmed this when he publicly stated that he won't seek cuts to Social Security…
A lot of people are eager to file early in hopes of getting their tax refund sooner, but also find that after filing they may have missed some key data or gotten additional information late, like a Employer W2 or 1099-X form - that is required to be reported in…
A Schedule C tax form is used, along with your personal 1040 filing, to report income and expenses to the IRS from business related to self-employment which you own as a sole proprietor or single-member LLC. Think of side-hustles or gigs you do on the side, where you make a reasonable…
Several tax companies allow you to get you filing fees and refund paid in advance, based on your estimated refund amount when filing with their tax software. But there is a clause in most of these advance fee or refund agreements that allows funds to be debited from your account…
Inflation is clearly taking a toll on the cost of filing this year with many folks reporting that the cost of filing and preparing a tax return is going up. For example for standard W2 filings with two dependents (a common tax return) the fees are nearly double in some…
In each state, U.S. territory, and the District of Columbia (D.C.), there is a maximum amount of weekly workers' compensation that can be received if an injury occurs on or after a specific date. These amounts are adjusted annually and represent the highest rate that a worker is eligible to…
The USDA has officially announced that SNAP (Supplemental Nutrition Assistance Program) emergency allotments, which were implemented as a temporary increase to monthly SNAP benefits during the COVID-19 pandemic have officially ended. End of SNAP EA Benefits This means for remaining residents in states who received a USDA waiver to participate…
The IRS announced they have completed final corrections to 2020 tax filings for taxpayers who inadvertently overpaid their taxes on unemployment compensation they received that year. Under the Biden Stimulus (ARPA) package, which funded another round of unemployment benefit extensions, there was a late provision added that provided a tax…
President Biden has confirmed via executive order (EO) that 2023 General Schedule (GS) pay scales will rise by an average of 4.6%. This is the highest increase in nearly two decades. For the locality of " LOS ANGELES-LONG BEACH, CA" (LA area) the latest GS pay scale table is shown below,…
Most GS employees' compensation is made up of base pay and locality pay, covering 55 geographic areas, which are based on surveys of pay levels for non-federal workers in a specific geographic area. This is to account for the different cost of living standards in different areas of the country.…
For the locality of "WASHINGTON-BALTIMORE-ARLINGTON - (DC, MD,VA, WV, PA)," (DMV area) the latest GS pay scale table is shown below, which incorporates the 4.7% GS base pay increase and locality payment adjustment of 16.82%. This brings the total 2024 pay increase for this geography to 4.99%. GradeStep 1Step 2Step 3Step 4Step 5Step 6Step 7Step 8Step 9Step 10125684265462739928251291022960130447312983133232128228880295673052431332316863261833551344833541536347331512325623361334663357133676337813388643991440964435373365523773138909400884126742445436244480345982539576408954221443533448524617147490488095012751446644117455884705948529500005147152942544125588357354749025506595229353928555625719658831604656209963733854292561025791159721615306334065149669596876870578959966619656396465962679616996071959739587595677955106603668237704387263974840770407924181442836438584411725537497277390798088222684644870628948191899943171286962898609275995657985551014531043521072501101481130471310340910685611030411375111719812064612409312754113098813443514122198126272130345134419138492142566146639150713154787158860151437361485271533181581091629001676901724811772721820631868542024 WASHINGTON-BALTIMORE-ARLINGTON -…
