If you are receiving Social Security retirement benefits and you are younger than your full retirement age, you may have to “pay back” (i.e., have your benefits reduced or withheld) if your earnings from work exceed certain annual limits. This… Continue reading
***We have moved! Just .3 miles away to 10031 Water Works Lane***
Protect Yourself From Tax-Related Identity Theft – Get an Identity Protection PIN
A taxpayer should consider obtaining an Identity Protection Personal Identification Number (IP PIN) because it is a highly effective tool for preventing tax-related identity theft. An IP PIN is a unique six-digit number issued annually by the IRS to eligible… Continue reading
Enhanced deduction for seniors
Beginning with the 2025 tax year, people who are age 65 or older may be eligible for a new deduction.
- For tax years 2025 through 2028, taxpayers who are age 65 or older may be eligible to claim an additional… Continue reading
New deduction for qualified tips
For tax years 2025 through 2028, individuals may deduct qualified tips received in certain qualified occupations. These occupations include wait staff, bartenders, salon workers, personal trainers, gig economy workers, and others who customarily and regularly receive tips.
Tips earned are… Continue reading
New deduction for qualified overtime compensation
New deduction for qualified overtime compensation
For tax years 2025 through 2028, individuals who receive qualified overtime compensation may deduct the amount that exceeds their regular rate of pay (generally, the “half” portion of “time-and-a-half” compensation). Beginning in 2026, this… Continue reading
Treasury, IRS issue FAQs to address the new deduction for qualified overtime compensation under the One, Big, Beautiful Bill
IR-2026-10, Jan. 23, 2026
WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued frequently asked questions in Fact Sheet 2026-01 related to the new deduction for qualified overtime compensation under the One, Big,… Continue reading
Exciting things are happening at Tax Happens! Best of the Best & We are Moving (not very far)!!! As of November 1st you can find us just .3 miles West of our current location at 10031 Water Works Lane.
Presidential order – no more paper checks
This order will require that all tax payments be made to the IRS by electronic means and all refunds to taxpayers be made by electronic means. Exceptions will be made for certain situations.
IRS sets January 23 as official start to 2023 tax filing season; more help available for taxpayers this year
IR-2023-05, January 12, 2023
WASHINGTON — The Internal Revenue Service today announced Monday, January 23, 2023, as the beginning of the nation’s 2023 tax season when the agency will begin accepting and processing 2022 tax year returns.
More than… Continue reading
IRS: Hurricane Ian victims in Florida qualify for tax relief; Oct. 17 deadline, other dates extended to Feb. 15
IR-2022-168, September 29, 2022
WASHINGTON — Hurricane Ian victims throughout Florida now have until February 15, 2023, to file various federal individual and business tax returns and make tax payments, the Internal Revenue Service announced today.
The IRS is… Continue reading