News

Have you filed your 2019 taxes yet?  If you haven't, you aren't alone. The IRS currently estimates that there are unclaimed income tax refunds totalling almost $1.5 billion for tax year 2019. 

It’s Tax Season, and that means that many Americans are preparing their tax returns this year to learn that they owe the IRS money. In a similar situation? Here are a few recommendations we have if you owe money to the IRS on last year’s taxes:

President Joe Biden has nominated Daniel Werfel as the IRS Commissioner.

Congratulations to Cary and Angie Bryson for being selected by a vote of peers to be included in Acadiana Profile magazine's 2023 list of Top Lawyers in Acadiana, Louisiana!

Did you know that the IRS can make a “Jeopardy Assessment” or initiate a “Jeopardy Levy” under IRC 6861 and IRC 6862 when they determine that the collection of tax is in jeopardy under normal IRS procedures?

We are pleased to announce that Attorney Jessica Byrd Thibodeaux has been selected to the 2023 Louisiana Rising Stars list and Attorney Tabitha Valverde has been selected to the 2023 Texas Rising Stars list.

The IRS has officially announced that January 23, 2023, will begin the 2023 tax season – the IRS will begin accepting 2022 returns on this date. 

If you have an IRA, don’t forget that you have until the tax filing deadline (Tuesday, April 18, 2023, this year) to fund a traditional IRA.  Making contributions to these types of retirement accounts can reduce your 2022 tax liability and contributions grow tax deferred. 

If you owe tax balances on a Married Filing Jointly tax return, it’s important to pay attention to who is listed as the primary Taxpayer and who is listed as the Spouse to avoid an IRS headache.

You may recall from a previous blog post of ours that in 2022, the IRS would require that e-commerce platforms such as Venmo, CashApp, PayPal, and Etsy to report all earnings of $600 or more on “business transactions” – payments for the sale of goods or services (vs. personal transactions for which the law did not intend to track) to the IRS. However, the IRS has recently announced that it will not require these platforms send a Form 1099-K in 2023 for 2022 earnings.