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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…
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IRS: Going green could help taxpayers qualify for expanded home energy tax credits

WASHINGTON — The Internal Revenue Service reminds taxpayers that making certain energy efficient updates to their homes could qualify them for home energy tax credits. The credit amounts and types of qualifying expenses were expanded by…
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Interest rates remain the same for the third quarter of 2023

WASHINGTON — The Internal Revenue Service today announced that interest rates will remain the same for the calendar quarter beginning July 1, 2023. For individuals, the rate for overpayments and underpayments will be 7% per year, compounded…
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Time running out to claim $1.5 billion in refunds

WASHINGTON ― The Internal Revenue Service announced today that nearly 1.5 million people across the nation have unclaimed refunds for tax year 2019 but face a July 17 deadline to submit their tax return. The IRS estimates almost $1.5 billion…
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Taxpayers can now upload more documents to IRS

WASHINGTON — The Internal Revenue Service announced today that taxpayers who receive certain notices requiring them to send information to the IRS now have the option of submitting their documentation online through IRS.gov. This…