The IRS knows many taxpayers will want to file their 2025 income tax returns as soon as possible to get any expected refunds. Other may delay a while for a variety of reasons. Either way, there are actions taxpayers can take in 2025 to be best prepared. Getting...
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Tax Credit
Don’t be Fooled Again!
The IRS has alerted taxpayers to fraudulent tax schemes on social media promoting Fuel Tax Credits and the Sick and Family Leave Credits. These posts have caused thousands of taxpayers to wrongly claim such credits which can result in large penalties to taxpayers. To...
IRS Taxpayer Advocate Discusses Pressing Issues Concerning the IRS
In her mid-year report, IRS Taxpayer Advocate, Erin Collins, identified three crucial areas where the IRS needs improvement to facilitate smoother and more efficient processing of returns. First, Ms. Collins emphasized how delays in resolving cases of identity theft...
Over $1 Billion Due to Taxpayers for 2020 and the Deadline to File is May 17, 2024
The IRS is encouraging taxpayers who haven’t filed their 2020 tax returns to file by the May 17, 2024, deadline, otherwise, they risk not receiving their refund. According to the IRS’ estimate, over $1 billion in refunds are due to the United States taxpayers who have...
NEW IRS CRIMINAL INVESTIGATION EDUCATIONAL SESSIONS REGARDING VPD – DEADLINE LOOMS
The Internal Revenue Service continues to work on reviewing all claims regarding the Employee Retention Credit (ERC). The IRS strongly encourages businesses to utilize the Voluntary Disclosure Program (VDP) if they incorrectly claimed ERC but did not meet the...
IRS Helps Taxpayers Prepare to File for 2023
The IRS issued its third in a series of helpful reminders to taxpayers preparing to file their 2023 income tax returns. The IRS has an interactive assistant online that taxpayers can use to confirm whether they need to file, who qualifies as a dependent, and whether...
IRS Denies 20,000 ERC Credits
The IRS is battling false Employer Retention Credits by denying more than 20,000 claims and by initiating a voluntary program for those who may have received the credit in error and who want to come forward to correct their claim and get into compliance. For full...
Clean Vehicle Credit Registration
The IRS announced its free online tool for sellers of clean vehicles to register for time-of-sale reporting and dealer advance payments for the Clean Vehicle Credit. For more information, click here.
Employer Opportunities for New Employee Tax Credits from Targeted Groups
Employers considering hiring workers from one of several qualified categories can receive tax credits as a result of hires that comply with the requirements. The group of candidates can be certain veterans, ex-felons, certain individuals receiving assistance under a...
The IRS Reminds Consumer Awareness of Clean Fuel Vehicle Benefit Changes
The IRS recommends that consumers planning to purchase an electric vehicle understand several recent changes to the Clean Vehicle Credit for qualified electric vehicles, such as The Inflation Reduction Act (IRA). In 2022, the IRS made several changes to the new Clean...
