WASHINGTON — The Internal Revenue Service today announced that the optional standard mileage rate for automobiles driven for business will increase by 3 cents in 2025, while the mileage rates for vehicles…
Read moreASHINGTON —The Internal Revenue Service today reminded disaster-area taxpayers who received extensions to file their 2023 returns that, depending upon their location, their returns are due by Feb. 3 or…
Read moreWASHINGTON — The Internal Revenue Service today encouraged taxpayers who paid too little tax in 2024 to make a fourth quarter estimated tax payment on or before Jan. 15, 2025. Income taxes…
Read moreASHINGTON — As part of this year’s Dirty Dozen tax scams, the Internal Revenue Service today warned taxpayers to watch out for promoters pushing improper fuel tax credit claims that taxpayers aren’t…
Read moreWASHINGTON — The Internal Revenue Service today reminded taxpayers that they must again answer a digital asset question and report all digital asset related income when they file their 2023 federal income tax…
Read moreWASHINGTON — The Internal Revenue Service today reminded disaster-area taxpayers who received extensions to file their 2022 returns that these returns are due on Feb. 15, 2024. Eligible taxpayers were those affected by…
Read moreIR-2023-221, Nov. 21, 2023 WASHINGTON — Following feedback from taxpayers, tax professionals and payment processors and to reduce taxpayer confusion, the Internal Revenue Service today released Notice 2023-74PDF announcing a delay of…
Read moreWASHINGTON—The Financial Crimes Enforcement Network (FinCEN) is issuing a final rule that specifies the circumstances in which a reporting company may report an entity’s FinCEN identifier in lieu of information about an…
Read moreIRS provides tax inflation adjustments for tax year 2024 WASHINGTON — The Internal Revenue Service today announced the annual inflation adjustments for more than 60 tax provisions for tax year 2024,…
Read moreWASHINGTON — With 2023 rapidly coming to a close, the Internal Revenue Service today encouraged taxpayers to review their tax withholding as soon as possible to avoid a potential surprise…
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