Note: This Fact Sheet has been updated July 25 by adding to the section on “No Tax on Car Loan Interest” new language describing the requirement for “Final assembly in the United […]
Take care when choosing a tax return professional
The Internal Revenue Service today reminded taxpayers that carefully choosing a tax professional to prepare a tax return is vital to ensuring that their personal and financial information is safe secure and […]
IRS increases the standard mileage rate for business use in 2025; key rate increases 3 cents to 70 cents per mile
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 […]
Prepare to file in 2025: Get Ready for tax season with key updates, essential tips
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 […]
Missed the April tax-filing deadline? File quickly to avoid penalties and interest; those owed a refund also shouldn’t forget to file
The Internal Revenue Service encouraged taxpayers who missed the April tax-filing deadline to file a tax return as soon as possible. The IRS offers different resources to help those who may be […]
Dirty Dozen: IRS warns about fake charities exploiting taxpayer generosity
In natural disasters and other tragic events, it’s common for compassionate individuals to donate money to help the victims. Unfortunately, scammers often use fake charities as a cover to not only obtain […]
