IRS ‘Free File’ available now; filers can claim important tax benefits
The IRS announced the availability of Free File, providing taxpayers with online tax preparation products available at no charge. The launch of IRS Free File, available only through IRS.gov, provides [...]
IRS releases its 2021 ‘Progress Update’ detailing challenging year
The Internal Revenue Service recently released its 2021 annual report describing the agency's work delivering taxpayer service and compliance efforts during the pandemic while highlighting efforts taken by IRS employees [...]
Deferred social security tax payment due Monday, Jan. 3, 2022
The Internal Revenue Service reminds employers and self-employed individuals that chose to defer paying part of their 2020 Social Security tax obligation that a payment is due Today, Jan. 3, [...]
Guidance regarding retroactive termination of the Employee Retention Credit
The Internal Revenue Service issued guidance for employers regarding the retroactive termination of the Employee Retention Credit. The Infrastructure Investment and Jobs Act, which was enacted on Nov. 15, 2021, [...]
Standard mileage rates for 2022 issued; here’s what they are
The Internal Revenue Service has issued the 2022 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical, or moving purposes. Beginning [...]
Most retirees must take required minimum distributions by Dec. 31
The Internal Revenue Service reminds retirement plan participants and individual retirement account owners that payments, called required minimum distributions, must usually be taken by Dec. 31. Required minimum distributions (RMDs) [...]
Tax pros, taxpayers can use secure online account, digital signatures
The Internal Revenue Service, state tax agencies, and the tax industry marked the fourth day of National Tax Security Awareness Week with a reminder to tax professionals and taxpayers that [...]
Child Tax Credit payments: IRS online portal now available in Spanish
The Internal Revenue Service launched a new Spanish-language version of the Child Tax Credit Update Portal (CTC-UP). This tool is designed to help families quickly and easily make changes to [...]
Scam risks remain during pandemic and with upcoming holiday season
With the 2022 tax season and the holidays rapidly approaching, the Internal Revenue Service, state tax agencies, and the nation's tax industry announced a special week focusing attention on taxpayers [...]
Families will soon receive November advance Child Tax Credit payments
The Internal Revenue Service and the Treasury Department reports millions of American families will soon receive their advance Child Tax Credit (CTC) payment for the month of November. Low-income families [...]