An IRS cycle code is an 8-digit code on your IRS tax transcript that indicates the day your return was posted to the IRS ...

If you've already filed your tax return or are preparing to do so, it's essential to understand the IRS's processing timelines and the factors that might influence the speed of your refund.

Previously, the agency was not processing claims filed after Sept. 14, 2023. As the agency moves forward, it will now start judiciously processing claims filed between Sept. 14, 2023, and Jan. 31, ...

The IRS began processing and accepting 2023 federal income tax returns on Jan. 29, 2024. Story Continues The IRS processes more than 13.9 million individual income tax returns during that first ...

Some tax returns may require additional review, which can extend the processing time beyond the typical 21 days. Therefore, it's wise to plan your finances with some flexibility in mind.

First, there's the Net Investment Income Tax (NIIT), which levies an additional 3.8% tax on investment income if you have an income over $200,000 (if you file your returns solo) or $250,000 (if ...