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Aug 29, 20244 min read
IRS provides relief to Ernesto victims throughout Puerto Rico; various deadlines postponed to Feb. 3, 2025
IR-2024-221 WASHINGTON — The Internal Revenue Service announced today tax relief for individuals and businesses throughout Puerto Rico...
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Aug 27, 20241 min read
Interest rates remain the same for the fourth quarter of 2024
IR-2024-220 WASHINGTON — The Internal Revenue Service today announced interest rates will remain the same for the calendar quarter...
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Aug 22, 20241 min read
Employer-offered educational assistance programs can help pay for college
Tax Tip 2024-68 An educational assistance program is an employer’s written plan to provide employees with undergraduate or...
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Aug 20, 20242 min read
Free tax filing options are still available for extension filers
Tax Tip 2024-69 Free tax filing options are available to taxpayers who requested an extension of time to file their federal taxes....
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Aug 18, 20242 min read
TAX COMPLIANCE AND FRAUD: TAX PREPARER FRAUD, EMPLOYEE RETENTION CREDITS AND HEAVY TRUCKS
Warning Signs of Tax Preparer Fraud Promises of Large Refunds: Â Be cautious if a preparer guarantees a large refund before seeing any...
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Aug 16, 20243 min read
IRS reminds truckers of upcoming tax deadline
IR-2024-214 WASHINGTON — The Internal Revenue Service reminds those who operate large trucks and buses that the deadline for filing Form...
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Aug 12, 20241 min read
Department of Treasury and IRS release Inflation Reduction Act clean energy statistics
IR-2024-202 WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued statistics on the Inflation...
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Aug 9, 20241 min read
Taxpayers should review the education tax credits before they file
Tax Tip 2024-67 There are two education tax credits  designed to help offset education costs: the American Opportunity Tax Credit  and...
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Aug 6, 20241 min read
The Educator Expense Deduction can help offset out-of-pocket classroom costs
Tax Tip 2024-66 The Educator Expense Deduction lets eligible teachers and administrators deduct part of the cost of technology, supplies...
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Aug 2, 20241 min read
Taxpayer privacy isn’t just a right – it’s the law
Tax Tip 2024-65 Protecting taxpayer privacy is priority at the IRS. The right to privacy is one of 10 rights the Taxpayer Bill of...
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Jul 29, 20247 min read
IRS shares more warning signs of incorrect claims for the Employee Retention Credit; urges businesses to proactively resolve erroneous claims to avoid penalties, interest, audits
IR-2024-198 WASHINGTON – As the Internal Revenue Service intensifies work on the Employee Retention Credit, the agency today shared five...
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Jul 25, 20244 min read
Security Summit urges tax pros to watch out for identity theft red flags
IR-2024-193 WASHINGTON — In the third part of a special series, the Internal Revenue Service and the Security Summit partners today urged...
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Jul 24, 20243 min read
IRS.gov offers Free File service, other resources; provides extension filers summertime help ahead of October deadline
IR-2024-192 WASHINGTON — The Internal Revenue Service today encouraged taxpayers who requested an extension of time to file their taxes...
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Jul 19, 20241 min read
Treasury, IRS issue updated guidance on required minimum distributions from IRAs, other retirement plans; generally retains proposed rules
IR-2024-190 WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued final regulations updating the...
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Jul 18, 20241 min read
IRS enhances FATCA registration website by requiring users to authenticate their identities
IR-2024-189 WASHINGTON — The Internal Revenue Service today announced the agency will enhance the identity authentication process that...
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Jul 12, 20241 min read
FREEBIE FRIDAY! Business Formation Checklist
Ever wanted to start a Limited Liability Company but never knew where to start? We've got you covered! Download our FREE LLC formation...
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Jul 12, 20242 min read
IRS reminds car dealers and sellers to be aware of phishing scams
IR-2024-186 WASHINGTON — The Internal Revenue Service would like to remind car dealers and sellers to be aware of evolving phishing and...
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Jul 11, 20244 min read
IRS tops $1 billion in past-due taxes collected from millionaires; compliance efforts continue involving high-wealth groups, corporations, partnerships
IR-2024-185 WASHINGTON – As part of continuing compliance efforts under the Inflation Reduction Act, the Internal Revenue Service today...
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Jul 9, 20246 min read
Misleading social media advice leads to false claims for Fuel Tax Credit, Sick and Family Leave Credit, household employment taxes; FAQs help address common questions
FS-2024-24 The Internal Revenue Service issued alert IR-2024-139 about a series of scams and inaccurate social media advice. Social media...
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Jul 1, 20242 min read
Energy efficient home improvements could help people reduce energy bills and taxes
Tax Tip 2024-62 Homeowners who make improvements like replacing old doors and windows, installing solar panels or upgrading a hot water...
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