Old Town Tax Professionals

09/26/2025

Paper checks are over 16 times more likely to be lost, stolen, altered, or delayed than electronic payments. By Transitioning into electronic tax refunds, the is helping taxpayers stay safe. See: https://ow.ly/KHvu50X1sAr

07/15/2025

FS-2025-03: One Big Beautiful Bill Act: Tax deductions for working Americans and seniors Internal Revenue Service (IRS) sent this bulletin at 07/15/2025 10:16 AM EDT IRS Newswire July 15, 2025 News Essentials What's Hot News Releases IRS - The Basics IRS Guidance Media Contacts Facts & Figures Aroun...

04/15/2022

Monday is the filing deadline!

01/11/2022

How do you distinguish between a business and a hobby?

01/04/2022

https://www.facebook.com/100064911930482/posts/288929466614116/?d=n

IRS issued standard mileage rates for 2022→58.5 cents per mile driven for business use. The optional standard mileage rates are used to calculate the deductible costs of operating a car for business, charitable, medical or moving purposes.

To learn more, click here: https://go.usa.gov/xetnV

09/12/2021

If a penalty has been assessed there is a possibility that you can abate the penalty. Requests for the forgiveness can be made on form 843.

https://www.irs.gov/forms-pubs/about-form-843

Tax Tip 2021-52, April 19, 2021

08/23/2021

https://www.facebook.com/IRS/photos/a.10156198781029735/10158876510034735/?type=3

Eligible teachers can deduct unreimbursed expenses for COVID-19 protective items to stop the spread of COVID-19 in the classroom. A reminder from the : https://go.usa.gov/xASEg

08/16/2021

And on and on it goes…

Members of Congress Urge IRS to Address Severe Backlog, Lack of Customer Service
August 12, 2021
Several members of Congress have urged the IRS to address the significant backlog of unprocessed tax returns and severe lack of customer service. In an August 10 letter spearheaded by Rep. Doug Lamborn, R-Colo., lawmakers, while acknowledging pandemic-related constraints, criticized the IRS for not taking necessary steps to remedy the ongoing issues.
"Rather than take steps to expedite processing times by returning more employees to in-person work or making more telephone agents available to taxpayers, the IRS instead simply encourages taxpayers to be patient and wait," the lawmakers wrote. "However, it is critical that these backlogs are processed because most taxpayers overpay on their taxes through wage withholding or estimated tax payments and are entitle to receive refunds when they file their returns."
Source: NSA National Society of Accountants

06/28/2021

Some families may prefer to wait until the end of the year and receive the entire Child Tax Credit instead of receiving advance payments. There is an IRS tool that lets them do just that: https://go.usa.gov/x6y6s

05/17/2021

Where is my refund?!? This might help explain a little.

https://www.washingtonpost.com/business/2021/05/11/tax-refund-delays-irs-printers-ink/?fbclid=IwAR3Eq65ogLEcefGvXu949HcPGySSoZpSy3wy3VzQ8e2K76FdwaZLu14fknY

Agency staffers have also complained that a lack of functioning printers and copiers has contributed to the backlogs.

03/17/2021

https://www.cnbc.com/2021/03/17/irs-pushes-april-15-us-tax-deadline-to-may-17.html

The IRS is pushing back the deadline for the tax filing season about one month, to May 17 from April 15.