June 2022 Tax Updates

By June 3, 2022 No Comments

Taxpayers can now track refunds for the past two years. The IRS made an important enhancement to
the Where’s My Refund? online tool. It allows taxpayers select any of the three most recent tax years to
check their refund status.

The good news for Americans still waiting on their refunds from the IRS the IRS is paying 4% interest.
The interest begins 45 days after the deadline.

IRS interest rates increase for the third quarter of 2022. Interest rates will increase for the calendar
quarter beginning July 1, 2022.

Taxpayers should include financial safety in their disaster preparedness plan. Here are some things
taxpayers can do to help protect their financial safety in a disaster situation. Update emergency plans,
create electronic copies of documents, and document valuables.

TAX TIP: Review and update your W-4 to prevent owing IRS for tax year 2022.

This article carries no official authority, and its contents should not be acted upon without professional advice. For more information about this topic, please contact our office.