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IRS urges many retirees to make required withdrawals

WASHINGTON — The Internal Revenue Service today reminded those aged 73 and older of the deadline to take required minimum distributions from individual retirement arrangements (IRAs) and other retirement plans, and highlighted updates introduced…
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IRS announces special payments going this month to 1 million taxpayers

WASHINGTON — As part of continuing efforts to help taxpayers, the Internal Revenue Service today announced plans to issue automatic payments later this month to eligible people who did not claim the Recovery Rebate Credit on their 2021 tax…
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Save for retirement now, get a tax credit later

The Internal Revenue Service today reminded low- and moderate-income taxpayers that they can save for retirement now and possibly earn a tax credit in 2025 and future years. The Retirement Savings Contributions Credit, also known as the Saver’s…
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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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Child and Dependent Care tax credit can help offset summer day camp expenses

WASHINGTON — The Internal Revenue Service today reminded taxpayers that summer day camp expenses may count towards the Child and Dependent Care tax credit. Many working parents arrange for care of their younger children under age 13 during…
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IRS encourages people to do an end-of-summer tax checkup

WASHINGTON — The Internal Revenue Service today encouraged taxpayers to consider using the end of the summer to make tax withholding or payment updates to avoid a potential surprise next year at tax time. While most taxpayers get a refund…
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IRS: U.S. taxpayers living and working abroad face June 17 deadline

WASHINGTON — The Internal Revenue Service reminds taxpayers living and working outside the United States to file their 2023 federal income tax return by Monday, June 17. This deadline applies to both U.S. citizens and resident aliens abroad,…
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Taking tax advice on social media can be bad news for taxpayers

WASHINGTON — On day eight of the Dirty Dozen tax scam series, the Internal Revenue Service today warned about bad tax information on social media that can lure honest taxpayers with bad advice, potentially leading to identity theft and tax…
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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…