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KEY Items for 2023 

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  • 90% of refunds will be issued within the first 21 days

  • If you claim the earned-income tax credit (EITC) and the additional child tax credit (ACTC): the IRS must wait until early March to begin issuing refunds to taxpayers who claim the EITC or the ACTC.

  • The Child Tax Credit will return to $1500 (up to age 16)

  • In addition to regular processing times for banks, factoring in weekends, and the President's Day holiday, the earliest EITC and ACTC-related refunds are expected to be available on or about the 1st week of March.

  • There will be none of the following for 2023: 

    • economic impact payments,

    • self employed sick & family leave credit,

    • child and dependent care credit.

  • When requesting an amendment of your previous year tax return, please have a copy of your return ready, payment for amendments preparation fee are made prior to submission to the IRS. 

  • If you're looking for more information about the timing of your tax refund use the "Get Refund Status" tool.

    • Have your Social security number or ITIN, filing status and exact refund amount handy.

    • Refund updates should appear 24 hours after your e-filing has been accepted or four weeks after you mailed your paper return.

    • The IRS updates the site once per day, usually overnight. 

Did you know we specialize in trucker's taxes?

If you are an owner-operator or company driver, we can help you save on many deductions that are overlooked. Take a look at some of the commonly missed  deductions below: 

  • Association fees, tolls, uniforms, and parking fees.

  • Bank fees for a business bank account.

  • Travel expenses including lodging, laundry, use of showering facilities, and other travel related expenses. 

  • Cell phone and internet data plans used for business, including GPS and communication systems that require data. 

  • Certifications required to maintain licenses. 

  • Fuel and other truck operating costs (per the actual expense method or standard method, depending on the better advantage). Example, a truck hauling freight will cost more than what the standard mileage is for IRS. 

  • Insurance, i.e. commercial liability insurance, workers comp, etc. 

  • Cleaning supplies used to keep the truck cab in operable condition.

  • ​Office supplies, tools, and safety gear such as work glove and steel-toe boots, safety vests, helmets, and cargo straps. This can also include fire extinguisher, flashlights, coolers, logbook papers, and other similar item

  • Computers, software, and internet access, including load boards, ELDs, and other administrative software for bookkeeping.

  • Credit card fees and interest (under the business entity for eligible business usage).

  • Depreciation, cost of the truck and major improvements must be depreciated over the class life of the truck, typically a 3 to 5 year recovery period.

  • Education, the cost of any continuing education to maintain your CDL with a state or federal agency.

  • Excise taxes such as heavy highway use vehicle excise tax, IFTA, and mileage taxes.

  • Fees via state and federal regulatory such as department of motor vehicle licensing fees and U.S. Customs duties for freight in/out the country by border. 

  • Labor such as employee wages, payroll taxes, cost of contract drivers. 

  • Interest expense on business loans, credit cards, mortgage interest on a building or qualified home office. 

  • Lease cost for leasing a truck (as an actual expense.

  • Maintenance and repair costs

  • Medical exams required DOT, drug tests, sleep apnea studies. Illness visits are not covered. 

  • Sirius radio and other music apps and subscriptions, including magazines.

NOTE fines and penalties are not reimbursable if paid to a government organization, i.e. speeding tickets, weigh station fines. 

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