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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…
WXC Corporation Doral Miami
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IRS updates frequently asked questions about educational assistance programs

These FAQs are being issued to provide general information to taxpayers and tax professionals as expeditiously as possible. Accordingly, these FAQs may not address any particular taxpayer’s specific facts and circumstances, and they may be…
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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 Doral Miami
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IRS issue proposed regulations on how to open initial Trump Accounts

WASHINGTON —The Department of the Treasury and the Internal Revenue Service today issued proposed regulationsproviding general requirements for Trump Accounts, certain definitions relating to Trump Accounts, election rules to open an initial…
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Updated Tax Withholding Estimator lets millions of taxpayers changes into account

WASHINGTON — The Internal Revenue Service recently unveiled enhancements to the IRS Tax Withholding Estimator to reflect changes to credits and deductions under the One, Big, Beautiful Bill, including no tax on tips, no tax on overtime, and…
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Create an IRS Individual Online Account today for security and convenience

WASHINGTON — The Internal Revenue Service encourages all taxpayers to create an IRS Individual Online Account to access their tax account information securely online and to help protect against identity theft and fraud. The IRS Individual…
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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 Miami Doral
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Questions and answers about qualified overtime compensation

This Fact Sheet provides answers to frequently asked questions (FAQs) about the new deduction for qualified overtime compensation, such as who may be eligible to claim the deduction, including federal employees, and where to find supplemental…