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. […]
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As part of the ongoing efforts to improve tax compliance in high income categories, the IRS will begin dozens of audits on business aircraft involving personal use. The audits will be focused […]
Read MoreThe IRS has issued a warning to small businesses regarding potential issues with Employee Retention Credit (ERC) claims as the March 22, 2024 deadline for the ERC Voluntary Disclosure Program approaches. Seven suspicious warning signs have […]
Read MoreThe IRS has issued the luxury car depreciation limits for business vehicles placed in service in 2024 and the lease inclusion amounts for business vehicles first leased in 2024. Luxury Passenger Car Depreciation Caps The luxury car depreciation caps for a […]
Read MoreFollowing what was described as a successful launch of beneficial ownership information reporting requirements, officials from the Department of the Treasury found themselves before the House Financial Services […]
Read MoreThe IRS has provided certain eligible taxpayers with automatic relief from additions to tax for failure to pay income tax for tax years 2020 and 2021. Relief is only […]
Read MoreThe IRS has issued final regulations regarding the de minimis safe harbors from the penalties under Code Sec. 6721 for failure to file information returns and Code Sec. 6722 for failure to furnish payee statements. The regulations also include […]
Read MoreThe Treasury Department and the IRS have issued guidance pertaining to the new credit for qualified commercial clean vehicles, established by the Inflation Reduction Act of […]
Read MoreThe IRS and the Department of Treasury (the Treasury) have announced that they intend to propose regulations to implement the product identification number (PIN) requirement with […]
Read MoreThe IRS reminded taxpayers to choose the right tax professional to help them avoid tax-related identity theft and financial harm. […]
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The IRS provided six tips to help taxpayers file their 2024 tax returns more easily. Taxpayers should follow these steps […]
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The IRS encouraged taxpayers to make essential preparations and be aware of significant changes that may affect their 2024 tax […]
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Guidance is provided for property and casualty insurers that write inland marine insurance and pay the State Fire Marshal Regulatory […]
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The IRS released the optional standard mileage rates for 2025. Most taxpayers may use these rates to compute deductible costs […]
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The IRS, in partnership with the Coalition Against Scam and Scheme Threats (CASST), has unveiled new initiatives for the 2025 […]
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The IRS reminded disaster-area taxpayers that they have until February 3, 2025, to file their 2023 returns, in the entire […]
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The IRS has announced plans to issue automatic payments to eligible individuals who failed to claim the Recovery Rebate Credit on their […]
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