IRS Urges Taxpayers to Choose Tax Preparers Carefully to Protect Data (IR-2025-21)
The IRS reminded taxpayers to choose the right tax professional to help them avoid tax-related identity theft and financial harm. […]
Read More
For 2024, the Social Security wage cap will be $168,600, and social security and Supplemental Security Income (SSI) benefits will increase by 3.2 percent. These changes reflect cost-of-living adjustments to account for inflation. Wage Cap for Social Security Tax […]
Read MoreAmid a growing number of scams and fraudulent activity surrounding the Employee Retention Credit, the Internal Revenue Service will stop processing new claims, effective immediately, at […]
Read MoreThe Department of the Treasury is reaching out to Congress to get the appropriate tools to combat the wave of Employee Retention Credit fraud […]
Read MoreThe Internal Revenue Service detailed plans on some of the high-income taxpayers that will be targeted for more compliance efforts in the coming fiscal year. IRS Commissioner Daniel Werfel, […]
Read MoreThe Treasury Inspector General for Tax Administration is calling on the Internal Revenue Service to improve its training of revenue agents that will be focused on auditing high-income taxpayers. […]
Read MoreThe IRS has provided additional interim guidance in Notice 2023-64 for the application of the new corporate alternative minimum tax (CAMT). This guidance clarifies and supplements the CAMT guidance provided in Notice 2023-7, I.R.B. 2023-3, 390, and Notice 2023-20, I.R.B. 2023-10, 523, which were […]
Read MoreTaxpayers may rely on a notice that describes proposed regulations that will address the amortization of qualified research and experimentation (R&E) expenses. Before 2022, R&E expenses were currently deductible, […]
Read MoreTaxpayers may rely on proposed regulations that detail how to satisfy the prevailing wage and apprenticeship (PWA) requirements for bonus amounts that may apply to several energy and business credits. The regs also explain the correction and penalty provisions that […]
Read MoreThe IRS reminded taxpayers to choose the right tax professional to help them avoid tax-related identity theft and financial harm. […]
Read More
The IRS provided six tips to help taxpayers file their 2024 tax returns more easily. Taxpayers should follow these steps […]
Read More
The IRS encouraged taxpayers to make essential preparations and be aware of significant changes that may affect their 2024 tax […]
Read More
Guidance is provided for property and casualty insurers that write inland marine insurance and pay the State Fire Marshal Regulatory […]
Read More
The IRS, in partnership with the Coalition Against Scam and Scheme Threats (CASST), has unveiled new initiatives for the 2025 […]
Read More
The IRS reminded disaster-area taxpayers that they have until February 3, 2025, to file their 2023 returns, in the entire […]
Read More
The IRS has announced plans to issue automatic payments to eligible individuals who failed to claim the Recovery Rebate Credit on their […]
Read More
The IRS released the optional standard mileage rates for 2025. Most taxpayers may use these rates to compute deductible costs […]
Read More
