Adjusting Your W-4 Form:  Why It Matters Updating your W-4 form is a critical step in managing your personal finances and ensuring your tax situation aligns with your current life circumstances. The W-4 form, officially known as the Employee’s Withholding Certificate, determines how much federal income tax is withheld from

Taxpayers who filed these claims mistakenly need to follow advice on letters; consider filing amended return or talking to a trusted tax professional WASHINGTON — The Internal Revenue Service issued a consumer alert today following ongoing concerns about a series of tax scams and inaccurate social media advice that led

WASHINGTON — The Internal Revenue Service successfully opened the 2024 tax season today by accepting and processing federal individual tax returns as the agency continues focusing on expanding options to help taxpayers. The IRS expects more than 146 million individual tax returns for 2023 to be filed this filing season,

The Taxpayer Bill of Rights is the 10 rights all taxpayers have any time they interact with the IRS. These rights cover a wide range of topics and issues, and they explain what taxpayers can expect if they need to work with the IRS on a tax matter. This includes when a

Happy Friday! I’ve had panicked small business owners asking what the FINcen BOI is & if it’s going to affect them filing their taxes. FINcen is separate from the IRS.  FINcen stands for Financial Crimes Enforcement Network (FinCEN). FinCEN is a bureau of the U.S. Department of the Treasury. In

WASHINGTON — The Internal Revenue Service today announced Monday, Jan. 29, 2024, as the official start date of the nation’s 2024 tax season when the agency will begin accepting and processing 2023 tax returns. The IRS expects more than 128.7 million individual tax returns to be filed by the April

WASHINGTON — In a major step to help people who owe back taxes, the Internal Revenue Service today announced new penalty relief for approximately 4.7 million individuals, businesses and tax-exempt organizations that were not sent automated collection reminder notices during the pandemic. The IRS will be providing about $1 billion

WASHINGTON — The Internal Revenue Service today urged taxpayers to take important actions now to help them file their 2023 federal income tax return next year. This is the second in a series of reminders to help taxpayers get ready for the upcoming filing season. The Get ready page on IRS.gov outlines

On November 10, 2023, the IRS made an official announcement stating that the e-file system would undergo a planned shutdown on November 18, 2023. The shutdown is part of a scheduled maintenance and upgrade process aimed at improving the overall efficiency and security of the IRS’s electronic filing system. The