WASHINGTON — With the 2025 filing season quickly approaching, the Internal Revenue Service encouraged taxpayers to take key steps now to prepare for filing their 2024 federal income tax returns next year.
The IRS continues to improve taxpayer…
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WASHINGTON — The Internal Revenue Service today announced that the optional standard mileage rate for automobiles driven for business will increase by 3 cents in 2025, while the mileage rates for vehicles used for other purposes will remain…
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The Internal Revenue Service today issued Notice 2024-85 PDF providing transition relief for third-party settlement organizations (TPSOs), also known as payment apps and online marketplaces, regarding transactions during calendar years 2024…
https://wxccorporation.com/wp-content/uploads/2022/11/Nov22-4.jpg398714admin-wxchttps://wxccorporation.com/wp-content/uploads/2017/06/logo1.jpgadmin-wxc2024-11-27 14:48:272024-11-27 14:55:14Form 1099-K threshold is $5,000 for calendar year 2024
The Internal Revenue Service will sponsor a free one-hour webinar designed to help the many businesses that must report their beneficial ownership information to the Treasury Department’s Financial Crimes Enforcement Network.
Because this…
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The Internal Revenue Service today announced that interest rates will decrease for the calendar quarter beginning Jan. 1, 2025.
For individuals, the rate for overpayments and underpayments will be 7% per year, compounded daily.
Here is…
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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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WASHINGTON — The Internal Revenue Service announced today the annual inflation adjustments for tax year 2025.
Revenue Procedure 2024-40 PDF provides detailed information on adjustments and changes to more than 60 tax provisions that will…
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WASHINGTON — In the aftermath of Hurricanes Milton and Helene, the Internal Revenue Service today cautioned taxpayers of scammers who use fake charities to gather sensitive personal and financial data from unsuspecting donors.
Scammers…
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WASHINGTON — As the 2025 tax season approaches, the IRS encourages all taxpayers to take an important step to safeguard their identity by signing up for an identity protection personal identification number (IP PIN).
This simple yet crucial…
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Year-round tax planning can make filing easierOctober 29, 2026 - 7:38 pm
Take steps now to protect tax informationOctober 29, 2026 - 7:38 pm
Updated retirement plan correction program for individual accountsOctober 29, 2026 - 7:32 pm
Get Ready for tax season with key updates, essential tips
IRS increases the standard mileage rate for business use in 2025
Form 1099-K threshold is $5,000 for calendar year 2024
Many businesses must report beneficial ownership information
Interest rates decrease for the first quarter of 2025
Save for retirement now, get a tax credit later
IRS releases tax inflation adjustments for tax year 2025
IRS warns taxpayers of charity scams following recent hurricanes
IRS encourages taxpayers to sign up for an IP PIN for the 2025 tax season