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Avoid a surprise next year; review tax withholding now before time runs out

WASHINGTON — With 2023 rapidly coming to a close, the Internal Revenue Service today encouraged taxpayers to review their tax withholding as soon as possible to avoid a potential surprise when they file their tax return next year. Although…
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Tax season: Get ready now to file 2023 federal income tax returns in early 2024

WASHINGTON — With the nation's tax season rapidly approaching, the Internal Revenue Service reminds taxpayers there are important steps they can take now to help "get ready" to file their 2023 federal tax return. This is the first in a…
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IRS reminds eligible 2020 and 2021 non-filers to claim Recovery Rebate Credit

WASHINGTON — The Internal Revenue Service is reminding those who may be entitled to the Recovery Rebate Credit to file a tax return and claim their money before it's too late. The vast majority of those eligible for Economic Impact Payments…
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Saver’s Credit can help low and moderate income taxpayers to save more in 2024

WASHINGTON —The Internal Revenue Service reminds low- and moderate-income taxpayers that they can save for retirement now and possibly earn a special tax credit in 2024 and years ahead. The Retirement Savings Contributions Credit, also…
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IRS encourages employers to electronically file payroll tax returns

WASHINGTON — The Internal Revenue Service today reminded employers that the best way to file their next quarterly payroll tax return by the Oct. 31, 2023, due date is electronically. While paper filing is available, the IRS strongly encourages…
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IRS: Beware of fake charities; check before donating

WASHINGTON — With the tragic crises and natural disasters happening around the globe, many are responding to the call to give what they can to help. The Internal Revenue Service today warned taxpayers to be wary of criminals soliciting donations…
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IRS issues guidance for the transfer of clean vehicle credits

WASHINGTON — The Internal Revenue Service issued proposed regulations, Revenue Procedure 2023-33PDF and frequently asked questions today for the transfer of new and previously owned clean vehicle credits from the taxpayer to an eligible…
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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 reminds gig workers, self-employed to pay quarter estimated taxes

WASHINGTON — The Internal Revenue Service sent a reminder to taxpayers who pay estimated taxes that the deadline to submit their third quarter payment was Sept. 15, 2023. Taxpayers not subject to withholding may need to make quarterly…