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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 information. Ranging from email schemes to misleading tax credits, many of the Dirty Dozen items peak […]
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. Here is a complete list of the interest rates: 7% for overpayments (payments made in excess of the […]
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 aliens abroad, including those with dual citizenship. Who is eligible for the extension? U.S. citizens or […]
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 and interest. Taxpayers should keep in mind that requesting an extension allows for additional time to […]
WASHINGTON — The Internal Revenue Service reminds taxpayers that proper tax withholding now is key to avoiding surprises when they file their tax return next year. Making any needed adjustments earlier in the year means taxpayers won’t have to make a big change later in the year to catch up. The IRS Tax Withholding Estimator […]
As the May 15 filing deadline approaches for tax-exempt organizations, the Internal Revenue Service highlights important forms and topics to ensure successful and timely filing. The annual filing due date for certain returns filed by tax-exempt organizations is the 15th day of the 5th month after the end of an organization’s accounting period. Those operating […]
The Internal Revenue Service reminds taxpayers that disaster preparation season kicks off soon with National Wildfire Awareness Month in May and National Hurricane Preparedness Week, May 4-10. With tax season over and peak periods for disasters approaching, now is a good time for taxpayers to think about protecting important tax and financial information as part […]
WASHINGTON ― The Internal Revenue Service today encouraged taxpayers to file a tax return or pay taxes they owe using electronic options on IRS.gov by April 15. These digital tools can help taxpayers avoid owing late filing and interest fees. This announcement is part of the Tax Time Guide, a resource to help taxpayers file […]
WASHINGTON — The Internal Revenue Service issued a reminder today that in most cases retirees who turned 73 in 2024 must begin receiving payments from Individual Retirement Arrangements (IRAs), 401(k)s and similar workplace retirement plans by Tuesday, April 1, 2025. Required minimum distributions (RMDs) are payments typically made by year end. However, individuals who turned […]
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