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IRS has options to help taxpayers who missed the filing deadline

The Internal Revenue Service today highlighted several resources to help taxpayers who missed the April 2025 federal income tax return filing deadline and owe taxes, interest and penalties. Taxpayers who owe taxes should file their tax return…
WXC Corporation Miami
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IRS improves Pre-Filing Agreement program for large business and international taxpayers

The Internal Revenue Service today announced improvements to its Pre-Filing Agreement (PFA) program to provide greater tax certainty for large business and international taxpayers. These improvements mark a renewed commitment by the IRS to…
WXC Corporation Doral Miami
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IRS provides relief for brokers on certain digital asset sales

The U.S. Department of the Treasury and the Internal Revenue Service today issued Notice 2025-33 PDF extending and modifying the transition relief provided in Notice 2024-56 for brokers who are required to file Form 1099-DA, Digital Asset Proceeds…
WXC Corporation Miami Doral
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Tax Advisory Committee includes recommendations to Congress and IRS

The Internal Revenue Service Electronic Tax Administration Advisory Committee (ETAAC) released its 2025 annual report today with 14 recommendations – four to Congress and 10 to the IRS. The committee recommended to the IRS to update tax…
WXC Corporation Doral Miami
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Alien taxation – Certain essential concepts

The taxation of aliens involves certain essential concepts as follows. Resident aliens A resident alien's income is generally subject to tax in the same manner as a U.S. citizen. If you are a resident alien, you must report all interest, dividends,…
WXC Corporation Doral Miami
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Dirty Dozen tax scams for 2025

WASHINGTON — The Internal Revenue Service today announced its annual Dirty Dozen list of tax scams for 2025 with a warning for taxpayers, businesses and tax professionals to watch out for common schemes that threaten their tax and financial…
WXC Corporation Miami Doral
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Interest rates remain the same for third quarter of 2025

WASHINGTON — The Internal Revenue Service announces that interest rates will remain the same for the calendar quarter beginning July 1, 2025. For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily.…
WXC Corporation Doral Miami
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U.S. taxpayers living abroad must file 2024 tax return by June 16

WASHINGTON — The Internal Revenue Service encourages taxpayers living and working abroad to file their 2024 federal income tax return and pay any tax due by Monday, June 16, 2025. The deadline applies to both U.S. citizens and resident…
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Missed the April tax-filing due date? Learn what to do

WASHINGTON — The Internal Revenue Service encourages taxpayers who missed the filing deadline to submit their tax return as soon as possible. Those who missed the deadline to file but owe taxes should file timely to avoid additional penalties…