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Important Reminder: W-4 Form Updates

Employees and employers are reminded of the importance of keeping the W-4 Form up to date whenever there are changes in an employee’s personal or tax-related information. The W-4 Form is used to determine the correct amount of federal income…
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Updates to Questions and Answers about the Premium Tax Credit

What is the Premium Tax Credit? (updated Dec. 23, 2025) The Premium Tax Credit is a refundable tax credit designed to help eligible individuals and families with low or moderate income afford health insurance purchased through…
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Guidance on new tax benefits for health savings account

The Department of the Treasury and the Internal Revenue Service today issued Notice 2026-05 PDF providing guidance on new tax benefits for Health Savings Account participants under the One, Big, Beautiful Bill. These changes expand HSA eligibility,…
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401(k) and IRA limit increases

WASHINGTON — The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2026 has increased to $24,500, up from $23,500 for 2025. The IRS today also issued technical guidance regarding…
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IRS to phase out paper tax refund checks starting with individual taxpayers

The Internal Revenue Service, working with the U.S. Department of the Treasury, today announced that paper tax refund checks for individual taxpayers will be phased out beginning on Sept. 30, 2025, as required by Executive Order 14247, to the…
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Out-of-pocket classroom costs could be offset with Educator Expense Deduction

It’s back to school season, and with that comes potential out-of-pockets costs for educators. The Educator Expense Deduction lets eligible teachers and administrators deduct certain expenses from their taxes. Eligible educators The taxpayer…
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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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IRS encourages taxpayers to check withholding now for next year

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…
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Protect important records in case a natural disaster strikes

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…