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1 Information from IRS’s “Publication 526 (2021), Charitable Contributions” as of January 20, 2023:
https://www.irs.gov/publications/p526
2 Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. These funds are generally made available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date. Federal tax payment files received from the IRS may be received up to 5 days early (based on data from the 2020 tax filing season). Chime makes no guarantee over when files are sent by the IRS and funds can be made available.
3 Information IRS’s draft “Publication 969” as of January 20, 2023:
https://www.irs.gov/pub/irs-dft/p969–dft.pdf
4 Information from IRS’s “Topic No. 503 Deductible Taxes” as of January 20, 2023:
https://www.irs.gov/taxtopics/tc503
5 Information from NOLO’s “The Tax Cuts and Jobs Act: Key Changes for Individuals” as of January 20, 2023:
https://www.nolo.com/legal-updates/the-tax-cuts-and-jobs-act-key-changes-for-individuals.html
6 Information from IRS’s “IRS provides tax inflation adjustments for tax year 2022” as of January 20, 2023:
https://www.irs.gov/newsroom/irs-provides-tax-inflation-adjustments-for-tax-year-2022
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Tim Moore
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