IRS provides relief to Hurricane Beryl victims in Texas

IRS provides relief to Hurricane Beryl victims in Texas; various deadlines postponed to Feb. 3, 2025 WASHINGTON — The Internal Revenue Service announced today tax relief for individuals and businesses in 67 Texas counties affected by Hurricane Beryl that began on July 5, 2024. These […]

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Newlyweds tax checklist

Summer wedding season has arrived, and newlyweds can make their tax filing easier by doing a few things now. A taxpayer’s marital status as of December 31 determines their tax filing options for the entire year, but that’s not all newlyweds need to know. Report […]

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International Fraud Awareness Week

IRS highlights International Fraud Awareness Week; taxpayers urged to protect against scams, schemes WASHINGTON – As part of ongoing efforts to protect taxpayers, the Internal Revenue Service reminds people that International Fraud Awareness Week serves as an important time to protect personal and financial information […]

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Digital Assets

The Internal Revenue Service recently reminded taxpayers that they must again answer a digital asset question and report all digital asset-related income when they file their 2022 federal income tax return, as they did for fiscal year 2021. The term “digital assets” has replaced “virtual […]

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IRS announces two new online tools to help families manage Child Tax Credit payments

Child Tax Credit Eligibility Assistant helps families determine whether they qualify for Child Tax Credit payments Update Portal helps families monitor and manage Child Tax Credit payments The Internal Revenue Service today launched two new online tools designed to help families manage and monitor the […]

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IRS suspends requirement to repay excess advance payments of the 2020 premium tax credit

The premium tax credit helps pay for health insurance coverage bought from the Health Insurance Marketplace. Eligible people can choose to have all, some, or none of the estimated credit paid in advance directly to their insurance company on their behalf. These payments – which […]

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Special $300 tax deduction helps most people give to charity this year – even if they don’t itemize

The Internal Revenue Service reminds taxpayers of a special new provision that will allow more people to easily deduct up to $300 in donations to qualifying charities this year. Following special tax law changes made earlier this year, cash donations of up to $300 made […]

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Get Ready for Taxes: Steps to take now to make tax filing easier in 2021

The Internal Revenue Service recently encouraged taxpayers to take necessary actions this fall to help file federal tax returns timely and accurately in 2021. This is the second in a series of reminders to help taxpayers get ready for the upcoming tax filing season. A […]

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IRS makes it easier to set up payment agreements; Offers other relief to taxpayers struggling with tax debts

The Internal Revenue Service today announced a number of changes designed to help struggling taxpayers impacted by COVID-19 more easily settle their tax debts with the IRS. The IRS assessed its collection activities to see how it could apply relief for taxpayers who owe but […]

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Helpful information for taxpayers on backup withholding

Taxpayers who receive certain types of income may have backup withholding deducted from these payments. Backup withholding can apply to most payments reported on certain Forms 1099 and W-2G. Here are some facts to help taxpayers understand backup withholding. Backup withholding is required on certain […]

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