The Internal Revenue Service today announced its annual Dirty Dozen list of tax scams for 2025 with a warning for taxpayers, businesses and tax professionals to watch out for common schemes that threaten their tax and financial information. Ranging from email schemes to misleading tax credits, many of the Dirty Dozen items peak during filing season as [...]
Medicare's annual open enrollment period recently drew to a close. The average senior had more than 40 plans to choose from in 2024. Many enlisted the help of licensed Medicare agents to navigate the process and compare options. Unfortunately, expert advice may be in short supply during the next open enrollment period. Insurers are moving to deprive seniors [...]
Don’t wait until tax time in April; arrange tax savings before year-end. Learn about deferring income, accelerating deductions, tax-loss selling, avoiding wash sale losses, paying estimated taxes, S-Corp payroll with health and retirement benefits, SALT cap workaround strategies for pass-through entities, and other tax-saving strategies. Tax planning for traders at year-end 2024 should be similar [...]
As part of International Fraud Awareness Week, the Internal Revenue Service reminds taxpayers how to report tax-related fraud in their community to protect personal and financial information from scam artists and tax schemes. During International Fraud Awareness Week, Nov. 17-23, the IRS Office of Fraud Enforcement and IRS Criminal Investigation aim to raise awareness of fraud, [...]
WASHINGTON — The Internal Revenue Service today announced for the second consecutive year it has received a prestigious award honoring the highest quality in financial management and performance reporting from the AGA, an association that connects and empowers financial-related professionals who support government. In a ceremony held on May 16, the AGA presented the IRS its [...]
Phishing is the practice of sending fraudulent communications disguised to appear to be from a reputable source. These attacks, usually through email but increasingly through text messages, are an attempt to try to steal personal and financial information. The IRS does not request personal or financial information from taxpayers by email. This includes any type of electronic communication, [...]
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WASHINGTON — The Internal Revenue Service today announced tax relief for individuals and businesses affected by Idalia, anywhere in South Carolina. These taxpayers now have until Feb. 15, 2024, to file various federal individual and business tax returns and make tax payments. This is similar to relief already being provided in most of Florida. The [...]
Stock up on Forever stamps now, or forever hold your peace. The United States Postal Service’s plan to raise stamp prices is taking effect on July 10. The price of a Forever stamp will rise from 58 cents to 60 cents. A Forever stamp, as its name suggests, can be used to mail a letter regardless of [...]
The Internal Revenue Service announced that the nation's tax season will start on Monday, Jan. 24, 2022, when the tax agency will begin accepting and processing 2021 tax year returns. The January 24 start date for individual tax return filers allows the IRS time to perform programming and testing that is critical to ensuring IRS [...]