Tax Year 2023 Archives - Lincoln Tax Professionals https://newsite.lincolntax.com/category/tax-year-2023/ Tax Preparers and Tax Consulting Mon, 30 Dec 2024 21:30:23 +0000 en-US hourly 1 https://wordpress.org/?v=6.7.2 https://i0.wp.com/newsite.lincolntax.com/wp-content/uploads/2025/01/Web-Favicon.png?fit=32%2C32&ssl=1 Tax Year 2023 Archives - Lincoln Tax Professionals https://newsite.lincolntax.com/category/tax-year-2023/ 32 32 241685655 Possible Government Shutdown?! https://newsite.lincolntax.com/2024/02/28/possible-government-shutdown/ Wed, 28 Feb 2024 21:27:54 +0000 https://newsite.lincolntax.com/?p=964 If a spending bill is not passed this week and the government shuts down on March 1st it could have significant implications for the IRS.  During a shutdown many federal agencies, including the IRS operate with a skeleton staff or cease non-essential functions altogether.  The exact impact on the IRS would depend on the duration

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]]> 964 Child Tax Credit Increasing? https://newsite.lincolntax.com/2024/01/22/child-tax-credit-increasing/ Mon, 22 Jan 2024 21:21:59 +0000 https://newsite.lincolntax.com/?p=959 A bipartisan group of Senators and Congressmen on Capitol Hill are currently negotiating a bill that includes increasing the Child Tax Credit from $2,000 to $3.6000.  A vote on this bill is expected by the end of January and if passed and made retroactive for 2023 the IRS will need to update their forms and

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]]> 959 Home Energy Tax Credits https://newsite.lincolntax.com/2023/09/28/home-energy-tax-credits/ Thu, 28 Sep 2023 20:07:14 +0000 https://newsite.lincolntax.com/?p=953 If you made energy improvements to your home in 2023, you may be eligible for some new tax credits.  The Inflation Reduction Act of 2022 did away with the old, and frankly useless, tax credits that only allowed you to deduct up to $500 for the lifetime of the taxpayer and replaced them with the

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