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Don't Mess With Taxes

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By the Numbers 2021

Hello 2021. You are definitely a number we've been looking to welcome after the previous [insert your own descriptor] 12 months.

Numbers via 123BFYes, the number that dominated 2020 was 19, as in COVID-19. And yes, it looks like the coronavirus pandemic will be with us at least into the first few months of this new year.

But we made it through 2020's chaotic tax season. I have confidence that we'll do the same in 2021.

And one final yes: We'll still be looking at tax-related numbers this year. I mean, what are taxes without all the digits?

What counts? Speaking of tax digits, By the Numbers recognition can go to just about any and every thing that can be counted in even a remote way as connected to taxes.

The potential figures range from tax rate percentages to dollar amounts to titles of tax legislation to raw numbers and more. Much, much more.

If it can be associated with taxes, federal or state, it counts!

Late but still counting: In my hangover from celebrating the end of 2020, I was a bit slow in getting around to tabulating early 2021 tax numbers here on this new year's new By the Numbers page.

But now I am caught up, at least on getting this page created. And from now on, the featured figures will show up here after they are highlighted in a post.

That usually will be on Sundays. Sometimes, though, a number gets early recognition, showing up on Saturday or even at the end of the traditional work week. And if some breaking tax news forces its way onto the ol' blog on Sunday, then the number will appear the next week.

But whenever they show up, they are counted. 

Regardless of the timing, you can always find the numbers at the link in the ol' blog's right column under the multicolored numbers box, the same one that's pictured on this page. A click there will bring you to this collection of the all the year's tax numbers, with the most recent figure and blog post at the top of the list.

So here we go into the 11th year of the ol' blog's numerical tradition. And if you want to reminisce until the 2021 numbers add up, you can recount the featured figures from 2011, 2012, 2013, 2014, 2015, 2016, 2017, 2018, 2019 and 2020.

  • 167,000 
    Christmas Day 2021 fun facts (Dec. 25, 2021)
  • $92,765,847,000
    Nearly $93B in Child Tax Credit payments issued in 2021 (Dec. 19, 2021)
  • $31,380
    'Home Alone' movie house's property taxes go up again (Dec. 11, 2021)
  • 70 percent 
    Ways to keep your business from becoming a tax cybercrime target (Dec. 4, 2021)
  • 11:59 p.m. Nov. 29
    Nov. 29 is final chance to make advance Child Tax Credit changes (Nov. 27, 2021)
  • Jan. 3, 2022
    All Mississippi, some California filers get new Jan. 3, 2022, tax deadline (Nov. 21, 2022)
  • Nov. 15
    Sign up by Nov. 15 to get full AdvCTC amount in December (Nov. 14, 2021)
  • 430,000
    430,000 more taxpayers get unemployment-related tax refunds (Nov. 7, 2021)
  • Nov. 1 
    Income update feature debuts Nov. 1 on IRS Child Tax Credit portal (Oct. 30, 2021)
  • 24.9 percent
    Wireless phone taxes continue to climb (Oct. 24, 2021)
  • 334
    IRS awards $41 million in grants to 334 VITA/TCE programs (Oct. 17, 2021)
  • $600
    Proposed $600 bank account reporting rule won't change current cash app tracking (Oct. 10, 2021)
  • 1.1 percent
    Just 1.1% of family farms face estate tax under Biden plan (Oct. 3, 2024)
  • Oct. 4
    Child tax credit portal glitch delayed some September payments (Sept. 26, 2021)
  • 193
    IRS issues 2021-2022 priority guidance plan (Sept. 19, 2021)
  • Sept. 15
    Estimated taxes due Sept. 15, but House bill proposes calendar changes (Sept. 12, 2021)
  • $400,000
    Hike of Social Security's taxable wage base gets renewed attention (Sept. 5, 2021)
  • 55
    Louisiana sports betting expected this football season (Aug. 29, 2021)
  • $60 million
    $60 million IRS adjustment doesn't pay off for tax whistleblower (Aug. 22, 2021)
  • $30 billion
    6 Advance Child Tax Credit questions still being asked … and the answers! (Aug. 15, 2021)
  • $1.2 billion
    Crypto currency showing up in IRS seized asset auctions (Aug. 8, 2021)
  • IRS Notice CP141A
    New IRS tax collection notices offer QR code contact option (Aug. 1, 2021)
  • 15.6 million 
    IRS reports progress in tax return backlog (July 25, 2021)
  • 17,000
    IRS plans to hire thousands of auditors by September (July 18, 2021)
  • $35.5 trillion
    New York City, San Jose top lists of where the rich live (July 11, 2021)
  • July 4, 1776
    Delving into the Declaration of Independence on July 4, 2021 (July 4, 2021)
  • $10,200
    Reps seek $10,200 tax exclusion for essential workers (June 27, 2021)
  • 1.7 million
    Parenting resources, including tax breaks, for single dads (June 20, 2021)
  • 8
    Louisianans in 5 parishes now have Aug. 16 tax deadline (June 13, 2021)
  • 13 million
    2.8 million in unemployment tax refunds have been issued (June 06, 2021)
  • Fiscal Year 2022
    Biden's first federal budget covers campaign & tax promises (May 30, 2021)
  • $473,007 and 32.60%
    New Jersey residents projected to pay the most state taxes over their lifetimes (May 23, 2021)
  • 6
    TN disaster relief means May 17 isn't Tax Day in 6 states (May 15, 2021)
  • 6
    A long look at 2021 tax facts & a glimpse at other Tax Days (May 8, 2021)
  • June 30 and Aug. 2
    New tax deadlines for disaster victims in Kentucky (June 30) and Alabama (Aug. 2) (May 1, 2021)
  • 29 million
    29 million tax returns awaiting manual IRS processing (April 25, 2021)
  • $1 trillion
    Tax Gap likely $1 trillion, thanks largely to cryptocurrency (April 18, 2021)
  • $13.2 billion
    Biden budget would beef up IRS tax enforcement (April 11, 2021)
  • 0
    55 big, profitable U.S. companies paid no tax in 2020 (April 4, 2021)
  • 8
    Hawai'i looks to be lone holdout in making May 17 Tax Day (March 28, 2021)
  • $10,200
    IRS to automatically issue refunds on tax-free unemployment to eligible early filers (March 21, 2021)
  • 3.14
    Pi(e) Day March 14 and rounded tax form entries (March 14, 2021)
  • 45.271 million
    Late 2021 tax-filing season start didn't slow down taxpayers (March 7, 2021)
  • Notice 2021-18
    2021 housing cost tax break amounts for U.S. expatriates (Feb. 28, 2021)
  • 260,000
    IRS mails 260,000 failure-to-file notices, but admits many likely are wrong (Feb. 21, 2021)
  • 52 percent
    State tax collectors get Valentine's Day gifts, too, in form of sales tax collections (Feb. 14, 2021)
  • 63 percent
    Gambling revenue not as lucrative as states hoped, but Super Bowl betting bump helps (Feb. 7, 2021)
  • Form 1040
    Form 1040 goes bigger for 2020 return filings (Jan. 31, 2021)
  • 71.7 percent
    Real estate taxes are a big part of state funding, but vary widely nationwide (Jan. 24, 2021)
  • 1.79 percent
    TIGTA finds problems with private tax collection levels, payment plans and security (Jan. 17, 2021)
  • 6
    6 tax & financial tips for the next lottery millionaire (Jan. 10, 2021)
  • $472 million
    IRS Whistleblower Office collected $472M from tax cheats (Jan. 3, 2021)

 

 

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Today's Tax Tip

  • April 1 is RMD deadline for some. No fooling — Recent retirement law changes have made many changes to how taxes affect our nest eggs, but one remains. The April 1 required minimum distribution (RMD) deadline is still available for those septuagenarians facing their first required withdrawal. (March 27, 2023)

  • Tax Tip; click pencil for all tax tip links

  • The 2023 Tax Tips offer ways to file your annual return, along with post-filing advice, important tax news and, of course, ways to cut your current tax year bill. You'll find the monthly assemblages on their own respective pages: January, February, March, April, May, June, July, August, September, October, November and December. Remember, tax tasks and tips don't stop after you file your annual return!

All About Kay

  • OK, some about Kay
    Open sign
    Kay Bell — Native Texan
    (the blog title totally makes sense now, right?). Professional journalist. Tax geek.

My Other Accounts

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  • *************

Tick ... Tick ... Tick

  • Tax Year 2023 Countdown!

    Happy New Tax Year! Are you ready to file your 2022 tax return? Me neither. But at least this year we're getting some extra time to file and pay any tax we owe. Even better, it's not COVID-19 pandemic related. Tax Day 2023 is Tuesday, April 18. This later date is because April 15, 2023, is on Saturday, and the next business day, Monday, April 17, is Emancipation Day.
    When this Washington, D.C., holiday falls on the day our federal taxes are due, it bumps Tax Day nationwide to the next business day. So this year, we have until Tuesday, April 18, to finish our federal forms and, if we find we owe, come up with the money for Uncle Sam. The states that follow the federal tax calendar, which is most of them, also tend to abide by this date change.

    The countdown clock below should help us from missing out on making important tax-saving moves the rest of this year. Plus, the Tax Moves below the counter will list some timely tasks to take care this first month of 2023, and each of the remaining 11 when they arrive. They'll speed by quickly when you're having tax fun!
    Note: I'm in the Central Time Zone, so adjust accordingly for where you live.


Time for Tax Tasks


  • monthly tax moves


  • Hello ☘ March.
    Your 2023 arrival is welcome, officially bringing us spring and getting us closer to the end of the main tax filing season. In fact, it's even closer, since this third month of the years also has us spring forward into Daylight Saving Time. So let's not waste any more precious hours and, ahem, march right into this month's tax tasks.


    via GIPHY


    March 1: It's the last full month of the tax-filing season, so that's a good reason to come at our taxes in the proverbial like a lion March entry mode. The first thing to attack like the feline king is the gathering of all the tax statements you'll need to fill out your 2022 return. This includes the paper ones that you tossed on a stack when they arrived, as well as those sent electronically and that you need to download or at least look at.

    March 6: Official tax statements aren't the only things you'll need to help you file. Other documents have information that's relevant to your tax return. So are the answers to some basic life questions. This tax checklist can help guide you as you work on your return. And don't forget about your previous tax return. That prior tax year filing is a good template, especially if your tax life hasn't changed that much.

    March 10: Do you work as a server at a restaurant or at any other establishment where gratuities from customers are part of your compensation? I hope you got lots of financial thanks for doing your job well, but remember that those tips are taxable income.

    restaurant check tip iStock
    Whether you're dining in or, still COVID leery and getting food delivered to your home, if a tip isn't included on your restaurant or delivery bill, click the image above to calculate how much to tip the person who brought it to you.

    If you got at least $20 in gratuities in January, you must account for the tips today by using Form 4070 to report last month's tips total to your employer.

    March 12: Feeling a bit tired after losing an hour of sleep earlier this morning? I'm right there with you. But I do love the extra end-of-day sunshine.

    Daylight Saving Time clock springs forward

    We can use that late-day natural light to work on our tax returns, including state filings if you, like most U.S. residents, live where state (or District of Columbia) personal income taxes are collected.

    March 15: This date is more than a literary reference. The Ides of March apply each year to many business taxpayers. Today is the tax filing deadline for partnerships (Form 1065 with K-1 or K-3 schedules) and S corporations (Form 1120S, again with the K schedules).

    March 17: Erin Go Bragh and
    Happy St. Patrick's Day!

    via GIPHY

    Enjoy this day, but don't trust lucky charms to get you through tax filing season. Double check your 1040 to ensure you haven't overlooked any tax breaks or made any common filing mistakes.

    March 20: Spring has sprung!

    Spring; click image for the Farmer's Almanac take on the vernal equinox

    That means it's time for spring cleaning. Your gifts won't help with your current tax return, but they could pay off next year as charitable donation deductions if you itemize.

    March 27: If you have a tax-deferred retirement account, such as a traditional IRA or workplace regular 401(k), and are in your 70s, you could be facing a required minimum distribution (RMD) due date in just more than a week. If you turned 72 last year and didn't take your initial RMD by Dec. 31, you must do so by April 1. A quick planning note, too, for septuagenarian savers not yet facing RMDs. These mandatory distributions this year kick in when you celebrate your 73rd birthday, thanks to the new SECURE 2.0 retirement law.

    March 31: This is it. March is over, which for taxes means you best shed your out like a lamb attitude and get to work on your Form 1040. The IRS recommends we file electronically, which will speed up processing of returns and issuance of any refunds. The tax agency also urges taxpayers to check out Free File, the no-cost online preparation and electronic filing web page for eligible taxpayers created by the IRS' partnership with the Free File Alliance. This year, seven tax software companies are participating.

    IRS Free File; click image for details

    The Free File income threshold this year remains at adjusted gross income (AGI) of $73,000 or less, regardless of your filing status.

    Small Business Tax Calendar: Important filing, deposit and record keeping dates throughout the year that your company needs to know. You can get more tax calendar information at the IRS' online calendar page and view the full year's important business and individual tax dates in IRS Pub. 509.

State Tax Help

  • Don't forget your state taxes!
    Forty-three states and D.C. collect personal income taxes. But even if you live in of the seven states without an income levy, you still face other state (and local) taxes.

    State Tax Departments provides links to your state's Web page. The companion page, Tax Tidbits, is the compilation of blurbs about each state's tax laws. And for more state tax news, check out all our state tax bloggings.

Tax Forms

  • Tax Forms
    Thanks to our increased use of tax preparers and computer software, many of us don't see our tax forms until we sign and file them. But knowing what's on these documents, either in paper or digital form, and why the IRS wants it is key to understanding our tax system. And knowledge definitely is power, especially when it comes to tax savings. Find this valuable information in the ol' blog's special Tax Forms 2023 page.

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  • Tax Reading Room

    You also might enjoy these other tax tips from some of my tax-writing colleagues:

  • JK Lasser 2023 Taxes
    JK Lasser 2023 taxes

  • Dealing With The IRS
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I gotta tell ya ...

  • AKA Disclaimer:
    I am a professional journalist who has been covering tax issues since 1999.
    I am not a professional tax preparer.
    The content on Don't Mess With Taxes is my personal opinion based on my study and understanding of tax laws, policies and regulations. It is provided for your private, noncommercial, educational and informational purposes only. It is not a recommendation of any specific tax action(s) you should or should not take. Similarly, mentions of products or services are not endorsements. In other words, my ramblings on the ol' blog are free advice and you know what they say about getting what you pay for. That's why when it comes to filing your taxes, I urge you to get additional, professional, paid-for guidance from an accountant, Enrolled Agent or other qualified tax preparer who is familiar with your individual tax circumstances.

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COVID-19 & Taxes

  • COVID-19
    Coronavirus has wreaked havoc
    on the 2020 and 2021 tax seasons.
    These three Coronavirus (COVID-19) and Taxes pages have details:
    March-July 2020,
    August-December 2020,
    January-December 2021, and
    January-December 2022
    You can find medical coronavirus resource links in the next section.

COVID-19 Resources

  • COVID-19
    Need help finding a coronavirus vaccine in the United States?
    Call 1-800-232-0233
    or TTY 1-888-720-7489.
    More information and resources at:
    CDC Vaccines
    CDC Booster Shots
    HHS Combat COVID
    USA.Gov COVID Info

March 2023

Sun Mon Tue Wed Thu Fri Sat
      1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31  

Tell it to the Hill

  • DMWT Politics Posts
  • While it's easy to rail at the IRS, for the most part we can thank — or blame — our tax laws on Congress and the White House. So if you have an issue with tax legislation or want a tax bill passed, you need to let your federal legislators and the White House occupant know of your concerns. You can find out who in Washington, D.C., to contact (and how), as well as get information on your local lawmakers for matters, tax or otherwise, closer to home, at USA Gov.

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