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IRS launches new online tool to help taxpayers resolve tax debt

WASHINGTON — The Internal Revenue Service today announced a new online tool to help taxpayers understand and resolve tax debt. The Tax Debt Help tool provides individuals and businesses with a simple, accessible way to explore payment…
WXC Corporation Doral Miami
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IRS issue proposed regulations on the new remittance transfer tax

WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued proposed regulations that would provide rules and definitions related to the new excise tax imposed on certain remittance transfers, also referred to…
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Steps taxpayers can take now to resolve tax issues and stay on track

WASHINGTON — Taxpayers who owe taxes or have not yet filed can benefit from acting early. Taking the steps outlined below can help limit penalties and interest, prevent delays, and make it easier to resolve tax issues. This Tax Time Guide…
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Time is running out to claim $1.2 billion in refunds for tax year 2022

WASHINGTON ― The Internal Revenue Service today announced that over 1.3 million people across the nation have unclaimed refunds for tax year 2022 and face an April 15 deadline to submit their tax returns. The IRS estimates that approximately…
WXC Corporation Miami Doral
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IRS launches new web page to streamline tax fraud and scam reporting

WASHINGTON — The Internal Revenue Service today announced the launch of a new web page that allows taxpayers to confidentially report suspected tax fraud, scams, evasion, or other tax-related illegal activities, as well as internal-facing…
WXC Corporation Doral Miami
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IRS issue guidance on special depreciation allowance

WASHINGTON — The Department of the Treasury and the Internal Revenue Service today provided interim guidance for taxpayers regarding the special depreciation allowance for qualified production property enacted under the One, Big, Beautiful…
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Questions about the One, Big, Beautiful Bill

WASHINGTON — Taxpayers may be able to take advantage of new deductions that could reduce taxable income and increase refunds due to the One, Big, Beautiful Bill, passed by Congress in July 2025. Provisions from the new law can have a significant…
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IRS opens 2026 filing season

WASHINGTON — The Internal Revenue Service today opened the 2026 tax filing season and began accepting and processing federal individual income tax returns for tax year 2025. The IRS expects about 164 million individual tax returns for tax…
WXC Corporation Doral Miami
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IRS provide penalty relief for tax year 2025

WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued guidance providing penalty relief to employers and other payors for tax year 2025 regarding new information reporting requirements for cash tips and…