3 tax changes to know before filing

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Americans for Tax Reform President Grover Norquist argues people who have a side hustle and independent contractors are ‘being swept up’ by the administration’s latest IRS push. The 2022 tax season is underway and marks the third straight tax season disrupted by the pandemic. Before the first returns were even submitted to the Internal Revenue Service (IRS), the agency told families and businesses to be prepared for a bumpy tax filing season. IRS Commissioner Chuck Rettig said earlier this month that “in many areas, we are unable to deliver the amount of service and enforcement that our taxpayers and tax system deserves and needs. This is frustrating for taxpayers, for IRS employees and for me.“IOWA WEIGHS PROPOSAL TO SHIELD RETIREMENT INCOME FROM TAXESUnfortunately for taxpayers, they cannot forego participating in this tax filing season, which runs until April 18th for taxpayers in most states. In fact, many families may have more tax items to navigate this year than ever before, all while working with an IRS that is increasingly underwater. Here are the top three changes taxpayers should be aware of:Didn’t Receive Your Economic Impact Payments? Now Is the Time to Claim Them The federal government sent out three rounds of “Economic Impact Payments” over the course of the pandemic, including a $1,400 payment last spring as part of the American Rescue Plan (ARP). These payments were made available for si …

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www.foxbusiness.com/personal-finance/tax-filing-irs-returns-turbo-deadlines

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