IRS to accept 2022 tax returns starting Jan. 23

The IRS said that most electronic filers will receive their refund within 21 days if they choose direct deposit and there are no issues with their tax return. The deadline to file is Tuesday, April 18.

Key tax and retirement provisions in the Secure 2.0 Act

The year-end appropriations act included the Secure 2.0 Act, which makes many changes to the retirement plan rules, including expanding automatic enrollment and increasing the starting age for required minimum distributions.

CPAs rev up for a new tax season

While 2022 returns are relatively unaffected by recent tax law changes, a few new issues will require preparers’ attention.

Line Items

Growing tax gap shows need for better service, compliance, IRS says ... IRS initiates pilot program to thwart line-jumping on PPS calls ... Plan approval program expands to Sec. 403(b) retirement plans ... Practitioner Perspectives series to continue within IRS Appeals

IRS delays Form 1099-K $600 reporting threshold

The IRS announced late in December that it is delaying the new, lower $600 reporting threshold for third-party settlement organizations so that it will not apply to transactions in 2022.

Where to find January’s flipbook issue

The Journal of Accountancy is now completely digital. 





Get Clients Ready for Tax Season

This comprehensive report looks at the changes to the child tax credit, earned income tax credit, and child and dependent care credit caused by the expiration of provisions in the American Rescue Plan Act; the ability e-file more returns in the Form 1040 series; automobile mileage deductions; the alternative minimum tax; gift tax exemptions; strategies for accelerating or postponing income and deductions; and retirement and estate planning.