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IRS launches business tax account

WASHINGTON — Following a dramatically improved 2023 filing season thanks to Inflation Reduction Act (IRA) investments, the Internal Revenue Service has targeted IRA resources on strengthening enforcement, with announcements on new initiatives…
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IRS expands use of chatbots to help answer questions on key notices

WASHINGTON — The Internal Revenue Service today announced the availability of expanded chatbot technology to help quickly answer basic questions for people receiving notices about possibly underreporting their taxes. The new chatbot feature…
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IRS: Those impacted by Idalia qualify for tax relief

WASHINGTON — The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia in parts of Florida. These taxpayers now have until Feb. 15, 2024, to file various federal individual and business tax returns…
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IRS launches paperless processing initiative

Taxpayers will have the option to go paperless for IRS correspondence by 2024 filing season, IRS to achieve paperless processing for all tax returns by filing season 2025 FS-2023-18, Aug. 2023 IRS paperless processing initiative will eliminate…
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Interest rates increase for the fourth quarter 2023

WASHINGTON — The Internal Revenue Service today announced that interest rates will increase for the calendar quarter beginning Oct.1, 2023. For individuals, the rate for overpayments and underpayments will be 8% per year, compounded daily.…
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IRS ends unannounced officer visits to taxpayers

WASHINGTON — As part of a larger transformation effort, the Internal Revenue Service today announced a major policy change that will end most unannounced visits to taxpayers by agency revenue officers to reduce public confusion and enhance…
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Special options available to help taxpayers who missed the April deadline

WASHINGTON — The Internal Revenue Service today encouraged taxpayers who owe unpaid taxes and missed the April 18 tax deadline to file their 2022 federal income tax return and pay any tax due by Wednesday, June 14, to avoid a larger late-filing…
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Returning to the Office? The Remote Work Reckoning

The list of companies requiring their employees to return to the office at least a few days per week keeps growing, and it includes many well-known names. Some have been met with a strong response from their employees — and not an enthusiastic…
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Jobs Report Shows Pay Increased by 6.5% Over Last Year

Private sector employment increased by 278,000 jobs in May and annual pay was up 6.5 percent year-over-year, according to the May ADP National Employment Report produced by the ADP Research Institute in collaboration with the Stanford…