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April 1 final day to begin required withdrawals from IRAs and 401(k)s

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…
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Wage statements and certain information returns due by Jan. 31

WASHINGTON — As tax filing season nears, the Internal Revenue Service reminds businesses to submit wage statements and certain information returns to the federal government by Jan. 31. Filing the required forms by deadline and without errors…
WXC Corporation Doral Miami
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IRS offers top tips to make tax time easier

The Internal Revenue Service today provided taxpayers with six tips to make filing their 2024 tax return easier. Most of the information below is also available on the IRS.gov Let us help you page. Taxpayers should follow these handy suggestions…
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IRS Direct File set to expand availability

WASHINGTON — The Internal Revenue Service announced today that Direct File will be available for the 2025 tax filing season in double the number of states than last year’s pilot, and it will cover a wider range of tax situations, greatly…
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Credits for new clean vehicles purchased in 2023 or after

If you place in service a new plug-in electric vehicle (EV) or fuel cell vehicle (FCV) in 2023 or after, you may qualify for a clean vehicle tax credit. For more information on how to qualify see Publication 5866, New Clean Vehicle Tax Credit…
Retirement Plan
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Retirement plan distributions: IRS provides guidance on certain exceptions

WASHINGTON – The Internal Revenue Service today issued Notice 2024-55PDF, which provides guidance on exceptions to the additional tax when taking early permissible retirement plan distributions for emergency personal expenses and for victims…
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IRS announces extension of Free File program through 2029

WASHINGTON — The Internal Revenue Service announced today an extension of the current Free File program through 2029 following an agreement that will continue to make the free private-sector tax software available to taxpayers. The five-year…
WXC Corporation Miami Doral
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Missed the April tax-filing deadline? File quickly to avoid penalties and interest

WASHINGTON — The Internal Revenue Service today encouraged taxpayers who missed the April tax-filing deadline to file a tax return as soon as they can. The IRS offers different resources to help those who may be unable to pay their tax…
WXC Corporation Doral Miami
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IRS: Take care when choosing a tax return professional

WASHINGTON — The Internal Revenue Service today reminded taxpayers that carefully choosing a tax professional to prepare a tax return is vital to ensuring that their personal and financial information is safe and secure and treated with care. Most…