Looking for more news / blogs? CLICK HERE to go back to the main blog page.

Tax Time Guide: Things to consider when filing a 2022 tax return

“Unlike 2020 and 2021, there were no new stimulus payments for 2022, so taxpayers should not expect to get an additional payment in their 2023 tax refund… Some tax credits return to 2019 levels. This means that taxpayers will likely receive a significantly smaller refund compared with the previous tax year. Changes include amounts for the Earned Income Tax Credit (EITC), the Child Tax Credit (CTC) and the Child and Dependent Care Credit will revert to pre-COVID levels.”

Click here to read this full release from the IRS.


IRS warns taxpayers of new filing season scams involving Form W-2 wages; those filing fake returns face potential penalties, investigation

“The Internal Revenue Service issued a consumer alert today to warn taxpayers of new scams that urge people to use wage information on a tax return to claim false credits in hopes of getting a big refund. One scheme, which is circulating on social media, encourages people to use tax software to manually fill out Form W-2, Wage and Tax Statement, and include false income information. In this W-2 scheme, scam artists suggest people make up large income and withholding figures as well as the employer it is coming from. Scam artists then instruct people to file the bogus tax return electronically in hopes of getting a substantial refund – sometimes as much as five figures – due to the large amount of withholding.”

Click here to read this full release from the IRS.



Blog by Kim Store, EA – Tax Services Manager

Learn more about Kim and the rest of the Storen Financial team here.