The Federal government provides special tax law provisions to help taxpayers and businesses recover financially from the impact of a disaster, especially when the federal government declares their location to be a major disaster area as they have for Hurricane Ian. The following highlights the special tax provisions:
Filing Due Dates Affected
Effective for 2022 and later years, Congress reduced the threshold for the Form 1099-K filing requirement from $20,000 to a mere $600. So, you might ask, what does that have to do with me? This change can impact taxpayers in several ways, some unexpected, so you may find yourself in for a surprise that can be unpleasant in some situations.
“Return being processed” means the IRS received your tax return, but it could still be delayed.
Many taxpayers use the Where's My Refund tool and wonder what "Return being processed" means for them and their refund.
The answer: not much yet!