News
“A New Era Of Enforcement”: What The IRS Hiring Surge Means For You
Last week, the Washington Post reported that the IRS plans to hire 5,000 new employees in the next month. Along with the implementation of a second “surge team” of reassigned employees and contractors, the move represents the agency’s most aggressive effort yet to address its massive backlog of tax returns and correspondence — a result […]
Boxelder Named One Of Denver’s Best Tax Services For 2022
Boxelder Consulting is honored to announce that our firm has been named to Expertise.com’s list of the Best Tax Services in Denver for 2022. Our team was selected from a competitive pool of more than 150 Denver tax firms, earning recognition for our qualifications, level of experience, availability, professionalism, and reputation. Expertise specifically highlighted Boxelder’s […]
Denver IRS Office to Hire 15 New Revenue Officers by End of Year
In prior articles, we’ve covered how the Biden Administration’s infrastructure bill proposes an $80 billion budget increase to the IRS over the next 10 years to enforce tax collections. And while the bill is expected to pass through the House of Representatives soon, it probably won’t become law until at least early October. But the […]
Biden Proposes $80 Billion Increase To IRS Budget – What This Means For Taxpayers
President Biden has proposed allocating an extra $80 billion to the IRS over the next 10 years in an effort to beef up the agency’s authority. Administration officials believe that an IRS with more power to crack down on tax cheating will raise at least $700 billion within a decade. The administration also plans to […]
Federal Taxes Waived on up to $10,200 of Unemployment Benefits – But Wait on Filing Your Amended Return
Two weeks ago, Joe Biden signed the American Rescue Plan Act of 2021, waiving federal taxes on up to $10,200 of unemployment benefits for single adults making less than 150,000 per year. For couples filing jointly, that number is doubled to $20,400. Since unemployment earnings are typically taxed just like normal wages, the unemployment tax […]
IRS Extends the 2020 Tax Return Filing Deadline to May 17
The IRS announced Wednesday that it will delay the April 15 tax-filing deadline to May 17. This gives individual taxpayers an extra month to file their 2020 returns and pay any outstanding levies. The announcement comes several weeks after Congress called for an extended tax season to help taxpayers struggling during the COVID-19 pandemic. And […]
IRS Leaves 75 Million Phone Calls Unanswered in 2020, New Report Finds
Botched stimulus payments. Millions of unprocessed tax returns. Now, an annual report from the National Taxpayer Advocate, Erin Collins, provides a concerning look at the current state of the IRS. Of the 100 million phone calls made to the IRS’s toll-free phone lines in 2020, only one in four were answered. That leaves about 75 […]
2021 Tax Season Overview: Important Deadlines, E-Filing to Start in February
The IRS announced that E-filing will open for 2020 tax returns on February 12th, kicking off the 2021 tax season. And like last year, this year will be a chaotic one for the IRS. So, it’s best to start early. Here’s what you need to know: When are Taxes Due? Individual and corporate tax […]
IRS Error Sends Millions of Stimulus Payments to the Wrong Bank Accounts
If you use a tax preparer service like TurboTax, Jackson Hewitt, or H&R Block, there’s a good chance the IRS sent your second round stimulus payment to the wrong bank account last week. The IRS is rushing to fix the error, while millions of taxpayers wait for their $600 checks. TurboTax announced on Friday that […]