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WASHINGTON — The Internal Revenue Service announced Monday, January 26, 2026, as the opening of the nation’s 2026 filing season. This year, several new tax law provisions of the One, Big,…
Read moreBy law, all taxpayers have fundamental rights when they’re interacting with the IRS. It’s important that all taxpayers know and understand their rights. The Taxpayer Bill of Rights presents these rights in…
Read moreOverview of Trump Accounts Withdrawal and use
Read moreOverview of the new deduction What counts as qualified interest Interest must be paid on a loan that: If a qualifying vehicle loan is later refinanced, interest paid on the…
Read moreOverview of the deduction Who qualifies Individuals who: Who doesn’t qualify Individuals who are: How to claim the deduction Reporting requirements
Read moreThe IRS has released new guidance on the Premium Tax Credit (PTC), which helps eligible individuals and families afford health insurance through the Marketplace. Here are the key changes you…
Read moreWASHINGTON — The Internal Revenue Service today announced that the optional standard mileage rate for business use of automobiles will increase by 2.5 cents in 2026, while the mileage rate…
Read moreWASHINGTON — The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning Jan. 1, 2026. For individuals, the rate for overpayments and…
Read moreWASHINGTON — The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2026 has increased to $24,500, up from $23,500 for 2025. The IRS…
Read moreWASHINGTON — The Internal Revenue Service today announced the tax year 2026 annual inflation adjustments for more than 60 tax provisions, including the tax rate schedules and other tax changes. Revenue Procedure 2025-32 provides details about these…
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