IRS In Audio

IRS Reminder for Oct. 15 Filing Deadline (IR-2025-104)Date: Oct 14, 2025. Applies to tax year 2024 returns for those who filed extensions.Deadline: Oct 15 (midnight). IRS urges e-filing and electronic payments; paper filers can use Form 1040 and instructions for mailing addresses.Government shutdown note: Filing and payment obligations remain in effect; IRS will accept/process payments by mail or electronically.Possible extensions:

IRS Inflation Adjustments for Tax Year 2026 (IR-2025-103)Applies to 2026 returns filed in 2027; detailed in Revenue Procedure 2025-32.Standard deduction (2026): $32,200 MFJ; $16,100 Single/MFS; $24,150 HOH. Note: OBBB set 2025 SD at $31,500 MFJ; $15,750 Single/MFS; $23,625 HOH.Marginal brackets (Single; MFJ): 37% over $640,600; $768,700. 35% over $256,225; $512,450. 32% over $201,775; $403,550. 24% over $105,700; $211,400. 22% over $50,400; $100,800. 12% over $12,400; $24,800. 10% up to $12,400; $24,800.AMT exemption (2026): $90,100 Single (phaseout starts $500,000); $140,200 MFJ (phaseout starts $1,000,000).Estate tax exclusion: $15,000,000 (up from $13,990,000 in 2025).Adoption credit: Up to $17,670; up to $5,120 refundable.Employer-provided childcare credit (for employers): Max increased to $500,000 ($600,000 for eligible small businesses) under OBBB.Other indexed items:Unindexed items:

Treasury/IRS Penalty Relief for Remittance Transfer Providers (IR-2025-102)Date: Oct 7, 2025. IRS issues Notice 2025-55 granting limited deposit penalty relief for the first three quarters of 2026 related to the new remittance transfer excise tax under the One, Big, Beautiful Bill (OBBB).Relief conditions: Providers avoid deposit penalties if they make timely deposits (even if miscalculated) and pay any underpayment by the Form 720 due date for that quarter.Safe harbor: Providers may use excise tax deposit safe harbor rules for Q1–Q3 2026 despite underpayments, but must meet the reasonable cause standard.Tax details: Starting Jan 1, 2026, providers must collect a 1% tax on certain remittances made with cash, money orders, cashier’s checks, or similar instruments; make semimonthly deposits; and file quarterly returns. First deposit due Jan 29, 2026.More info: See Notice 2025-55 and Form 720 guidance.

Jarod Koopman to Lead IRS Enforcement (Acting CTCO)Jarod Koopman named Acting Chief Tax Compliance Officer, overseeing enforcement divisions: LBI, SB/SE, TE/GE, Criminal Investigation (CI), Office of Professional Responsibility, Return Preparer Office, and Whistleblower Office.Background: CI executive since 2016; built Cyber Crimes and Cyber and Forensics Services; led IRS-CI’s growth in crypto tracing and dark web investigations.Field leadership: Former ASAC in Chicago and SAC in Detroit; managed sensitive, high-profile cases in MI and IL.Earlier roles: Supervisory Special Agent (W.D.N.Y.), Senior Analyst at IRS HQ (ASLP graduate), worked on identity theft as a national priority in 2012.Bio: Upstate NY native; Nazareth University graduate; FLETC and IRS-CI training top graduate.Additional leadership move: Stewart Pearlman to serve as acting Deputy Chief in CTCO; prior roles include acting Deputy COO, ACA IT team lead, CIO Chief of Staff, and Procurement Chief of Staff (2019–2025).

IRS Appeals Launches Post Appeals Mediation (PAM) PilotThe IRS Independent Office of Appeals launched a two-year pilot to make PAM more attractive to taxpayers.Under the pilot, mediation cases are reassigned to an Appeals team not connected to the original case to provide a fresh, expedited look; other PAM features remain unchanged.PAM occurs after an unsuccessful Appeals process and typically lasts one day, with a neutral Appeals mediator; taxpayers may add a co-mediator at their expense.Goal: enhance ADR offerings, improve taxpayer experience, and encourage faster, mutually acceptable resolutions before potential litigation.Appeals also promotes broader use of its five ADR programs: Fast Track Settlement, Fast Track Mediation—Collection, PAM, Rapid Appeals Process, and Early Referral.Contact for questions: [email protected].

Volunteers Needed for No-Cost Tax Services (VITA/TCE)IRS and community partners are recruiting volunteers for VITA (Volunteer Income Tax Assistance) and TCE (Tax Counseling for the Elderly) for the upcoming filing season.Who they help: EITC-eligible taxpayers, people with disabilities, limited English speakers, seniors, and other underserved groups.No experience required: Free IRS training provided; roles include greeters, preparers, marketing, and IT support.Flexible options: Nationwide sites, in-person and virtual; evening/weekend hours available.Tax pros: Eligible for IRS CPE credits (EAs, non-credentialed preparers, CTEC/CRTP).When to sign up: October–January for this season; later sign-ups are kept for next season. Recent sign-ups (last 2 months) don’t need to reapply unless contact info changed.How to sign up: Visit IRS.gov/volunteers or use the VITA/TCE Volunteer and Partner Sign Up; expect local site options and a virtual orientation within ~14 days.

IRS Extends Feedback Period on Form 6765 (Research Credit)Comment period for draft Instructions to Form 6765 extended through March 31, 2026; IRS plans revised instructions in Jan 2026 (for TY 2025/processing 2026).Section G of Form 6765 will be optional for all filers for tax year 2025.Starting tax year 2026 (processing 2027), Section G becomes mandatory for all filers, with optional reporting for:Research credit claim transition period (45 days to perfect refund claims) extended through Jan 10, 2027.Refund claims postmarked after June 18, 2024 must identify business components, related research activities, and totals for qualified wages, supplies, and contract research (Form 6765 may be used).

Guidance on Opportunity Zone Investments in Rural Areas (OBBB)Treasury and IRS issued Notice 2025-50 clarifying Opportunity Zone (QOZ) rules for rural areas under the One, Big, Beautiful Bill (OBBB).New rural definition: any area not a city/town over 50,000 population and not an adjacent urbanized area to such a city/town; applies across states, DC, and U.S. territories.Substantial improvement threshold reduced: for property in QOZs comprised entirely of rural areas, required additions to basis drop from 100% to 50% (effective July 4, 2025).Scope: Applies to tangible property in qualifying rural QOZs on/after July 4, 2025 that is being or has been substantially improved.Context: Of 8,764 QOZs nationwide, 3,309 are entirely rural. Further guidance is planned on the next round of OBBB-authorized zones (nominations/designations).

IRS Announces New Relief for Taxpayers Affected by Events in IsraelThe IRS is postponing many tax filing and payment deadlines to Sep 30, 2026, for eligible individuals and businesses affected by ongoing events in Israel.Covered by Notice 2025-53, building on Notice 2023-71 and Notice 2024-72; collectively, deadlines from Oct 7, 2023 through Sep 30, 2026 may be postponed for eligible taxpayers.Applies to affected taxpayers in Israel, the West Bank, and Gaza; returns and taxes due in the covered period can be filed/paid by Sep 30, 2026.Automatic relief for taxpayers whose principal residence or business is in the covered area (based on prior filings).Others who qualify but have addresses outside the covered area can call the IRS disaster hotline at 866-562-5227 (or +1-267-941-1000 internationally) to request relief.

Treasury, IRS Reduce PTIN User FeeTreasury and IRS issued interim final regs and a proposed rule to lower the PTIN user fee for tax professionals.New fee: $10 IRS user fee (down from $11) + $8.75 paid to a third-party contractor.Effective with the next PTIN renewal cycle beginning Oct 16, 2025. PTIN fee is nonrefundable; penalties may apply for not having/using a valid PTIN.Expected volume: 900,000+ initial or renewal applications per cycle over the next three cycles.Comments on the proposed rule are due by Oct 30, 2025 via Regulations.gov (reference “IRS” and “REG-108673-25”); mailing address provided for paper submissions.PTINs expire Dec 31 each year. Apply/renew online at the PTIN portal (about 15 minutes) or by paper using Form W-12 (about six weeks processing).

IRS to Phase Out Paper Tax Refund Checks📢 Key Update:Starting Sept. 30, 2025, the IRS (with Treasury) will phase out paper tax refund checks for individual taxpayers, per Executive Order 14247.This is the first step in a broader transition to electronic payments.💡 Why the Change?Protect taxpayers: Paper checks are 16x more likely to be lost, stolen, altered, or delayed than electronic refunds.Faster refunds: Direct deposit refunds usually arrive in <21 days; mailed checks may take 6+ weeks.Cut costs: Processing electronic payments is cheaper and more efficient.👩‍👩‍👧 Impact on Taxpayers:Filing unchanged — taxpayers continue filing as usual.Refunds go digital — mostly via direct deposit or other secure methods.For the unbanked: Options will include prepaid debit cards or digital wallets.Act now: IRS urges taxpayers to have valid banking info or consider opening a low-cost/free account (FDIC GetBanked, MyCreditUnion.gov).📊 Context:In the 2025 tax season, IRS issued 93.5M refunds → 93% by direct deposit, only 7% by paper check.🔜 Next Steps:Executive Order 14247 also applies to payments made to the IRS (like taxes owed) — current systems remain until new guidance is issued.IRS will publish detailed filing/payment guidance before the 2026 season.Updates will be posted on IRS.gov and shared nationwide.👉 Bottom Line: Paper refund checks are ending. The IRS is going digital to boost security, speed, and savings, with special support to help unbanked taxpayers transition smoothly.

IRS Extends Drought Relief for Farmers and RanchersWhat Happened:IRS issued Notice 2025-52, extending tax relief for farmers and ranchers who sold livestock due to drought.Relief applies across 49 states, D.C., and other regions with drought (Sept. 2024 – Aug. 2025).Who Qualifies:Eligible: Sales/exchanges of livestock held for draft, dairy, or breeding purposes.Not eligible: Livestock raised for slaughter, for sporting purposes, or poultry.Relief Provided:Normally, replacement of drought-sold livestock must occur within 2 years.Extended to 4 years due to drought conditions.If drought persists, IRS can extend further.New rule: Farmers get until the end of the first tax year after the first drought-free year following the 4-year period.Example: If the deadline was end of 2025, now extended to the next tax year.How Eligibility is Determined:Based on National Drought Mitigation Center designations of exceptional, extreme, or severe drought.Further Resources:Notice 2006-82: Provides detailed examples of how the rule works.Publication 225 (Farmer’s Tax Guide): Guidance for reporting drought sales and other farm tax issues.Big Picture:This extension gives affected farmers and ranchers more time & flexibility to restore herds without immediate tax burden, easing recovery from widespread drought impacts.

Treasury & IRS Guidance on Tipped Occupations (One, Big, Beautiful Bill)Context:Guidance issued under the “no tax on tips” provision of the One, Big, Beautiful Bill.Proposed regulations identify which occupations customarily receive tips and define what counts as qualified tips eligible for deduction.Nearly 70 occupations are listed, ranging from bartenders to water taxi operators.Occupation Categories (Treasury Tipped Occupation Codes):100s – Food & Beverage Service200s – Entertainment & Events300s – Hospitality & Guest Services400s – Home Services500s – Personal Services600s – Personal Appearance & Wellness700s – Recreation & Instruction800s – Transportation & DeliveryDefinition of Qualified Tips:Must be cash or cash-equivalent, e.g., check, card, gift card, electronic payment (excluding most digital assets).Must be voluntary customer payments, or received via mandatory/voluntary tip pools.Cannot be service charges automatically added to bills (e.g., a restaurant’s 18% charge for large parties).Excludes illegal activity-related payments.Public Input:Comments due by Oct. 23, 2025, submitted via Regulations.gov.Effective Impact:Clarifies which workers can benefit from tip deductions.Narrows definition of qualified tips to ensure compliance and prevent abuse.

Treasury, IRS Issue Final Regulations on Roth Catch‑Up Rule & SECURE 2.0Core Regulation:Employees age 50+ can make catch‑up contributions to workplace retirement plans (e.g., 401(k), SIMPLE IRA).Under SECURE 2.0, high‑income earners (with wages above certain thresholds) must make these catch‑ups as after‑tax Roth contributions.Key Updates in Final Regulations:Aggregation of wages: Plan administrators can aggregate an employee’s wages from certain separate common‑law employers when determining Roth catch‑up applicability.Corrections allowed: Rules for fixing failures to follow Roth catch‑up requirements.Deemed Roth elections clarified.Puerto Rico coverage: Adjustments for plans covering Puerto Rico participants.Other Provisions:Higher catch‑up contribution limits apply to those aged 60‑63 and for employees in new SIMPLE plans.Effective Dates:Roth catch‑up requirement applies starting in 2027.Governmental / collectively bargained plans → may start later.Plans can adopt earlier, before 2027, if using a reasonable, good‑faith interpretation of the statute.Transition relief (Notice 2023‑62) remains unchanged → expires Dec. 31, 2025.Big Picture:Aims to modernize retirement savings by shifting higher‑income workers into Roth (after‑tax) catch‑ups.Provides more clarity for plan sponsors and administrators as they prepare systems and communications before 2027.

IRS Assesses $162 Million in Penalties Over False Tax Credit Claims Tied to Social MediaThe IRS has issued a strong warning about a surge in fraudulent tax schemes promoted on social media, which encourage taxpayers to claim false credits like the Fuel Tax Credit or Sick and Family Leave Credit. Since 2022, these scams, often spread by individuals posing as tax experts, have led to thousands of inaccurate returns, resulting in denied refunds and over $162 million in penalties across more than 32,000 cases.Key Takeaways:Scam Traits: Look out for claims that "everyone qualifies" for credits, promises of "easy" or "fast" refunds, instructions to file amended returns without eligibility, and encouragement to ignore IRS letters.Consequences: Falling for these scams can lead to delayed or denied refunds, a $5,000 civil penalty for frivolous returns, and further IRS enforcement.IRS Advice: Taxpayers who have filed incorrect returns should amend them immediately using Form 1040-X, respond promptly to IRS notices, and seek help from reputable tax professionals or IRS.gov. Suspected scams should be reported to [email protected] or TIGTA.The IRS urges taxpayers to exercise caution with social media tax advice and to verify all claims with official sources.

Summary — IRS Urges Emergency Preparedness Ahead of Peak Disaster As hurricane season peaks and wildfire risks remain high, the IRS urges individuals and businesses to update their emergency preparedness plans during National Preparedness Month. Key steps include safeguarding important documents like tax returns and insurance policies in waterproof, fireproof containers, maintaining detailed inventories of property with photos and descriptions, and creating digital backups. Employers are advised to ensure payroll service providers have fiduciary bonds and to use the Electronic Federal Tax Payment System for secure payments. When federal disasters are declared, the IRS often delays filing and payment deadlines automatically. Uninsured disaster losses may be deductible on tax returns. The IRS provides resources to help reconstruct lost records and encourages everyone to be prepared to minimize disaster impacts.

IRS News Release: Security Summit reminds tax pros to guard against identity theft (Aug. 26, 2025)The IRS and its Security Summit partners closed out their “Protect Your Clients; Protect Yourself” summer awareness campaign by urging tax professionals to remain vigilant against identity theft. Nearly 300 data breaches reported in the first half of 2025 affected as many as 250,000 clients. The Security Summit — a collaboration of the IRS, state tax agencies, industry, and professionals since 2015 — highlighted threats such as fake “new client” phishing emails, malware, social media misinformation, and scams impersonating the IRS.Tax pros are encouraged to watch for red flags like unauthorized IRS Online Account access, rejected returns linked to stolen SSNs, or unusual computer activity. Key prevention tools include creating a Written Information Security Plan (WISP), using the “Security Six” (antivirus, firewalls, backup systems, encryption, MFA, VPNs), and enrolling clients in the IRS Identity Protection PIN program.In case of a breach, practitioners must immediately report incidents to the IRS Stakeholder Liaison, notify state tax agencies, and inform affected clients. The campaign emphasizes staying informed with IRS publications (e.g., 5708, 5293, 4557) and resources like Identity Theft Central. The initiative also coincided with the IRS Nationwide Tax Forum events in summer 2025.

Key points / rates (annual, compounded daily)Individuals: 7% for overpayments and 7% for underpayments.Corporations: 6% for overpayments; 7% for underpayments.Portion of a corporate overpayment exceeding $10,000: 4.5%.Large corporate underpayments: 9%.Legal / calculation contextInterest rates are set quarterly under the Internal Revenue Code and are expressed as the federal short-term rate plus a statutory number of percentage points.For most taxpayers (non‑corporate), overpayment/underpayment = federal short-term rate + 3 percentage points.For corporations, underpayment = federal short-term rate + 3 percentage points; overpayment = federal short-term rate + 2 points; large corporate underpayments = federal short-term rate + 5 points; overpayment portion over $10,000 = +0.5 points.These rates are computed from the federal short-term rate determined in July 2025.Formal announcement of the rates appears in Revenue Ruling 2025-18 and will be published in Internal Revenue Bulletin 2025-37 (dated Sept. 8, 2025).

Summary:The IRS issued frequently asked questions (FAQs) in Fact Sheet 2025-05 to provide guidance on modifications to several energy-related tax provisions under the One Big Beautiful Bill Act (OBBB). These FAQs clarify the accelerated termination dates for energy credits and deductions, including sections 25C, 25D, 25E, 30C, 30D, 45L, 45W, and 179D.Key Points:Guidance on expiring energy credits and deductions under OBBBClarifications on the availability of the new clean vehicle creditInformation on the energy efficient home improvement creditDetails on the residential clean energy creditAdditional information about reliance on these provisions

Summary:The IRS announced that for Tax Year 2025, there will be no changes to certain information returns or withholding tables related to the One Big Beautiful Bill Act. This decision is part of a phased implementation to avoid disruptions during the tax filing season and to allow sufficient time for effective implementation.Key Points:Form W-2, existing Forms 1099, Form 941, and other payroll return forms will remain unchanged for Tax Year 2025.Federal income tax withholding tables will not be updated for these provisions for Tax Year 2025.Employers and payroll providers should continue using current procedures for reporting and withholding.The IRS is working on new guidance and updated forms for Tax Year 2026, including changes to how tips and overtime pay are reported.Coordination with employers, payroll providers, and tax professionals will ensure a smooth transition.Additional guidance will be provided in the coming months about claiming OBBBA-related tax benefits.

Summary:The IRS is inviting the public to participate in an anonymous feedback survey on tax preparation and filing options. This survey is part of the Department of Treasury and IRS efforts to fulfill a reporting requirement to Congress under the One Big Beautiful Bill Act. The law mandates that Treasury deliver a report to Congress by October 2, 2025, addressing key issues related to free tax filing options for the public.Key Details:Public feedback survey open through September 5, 2025Survey participation is anonymousThe report to Congress will inform future policies on free tax filing optionsThe survey can be accessed via the Free Online Tax Preparation Feedback Survey or the IRS.gov landing page

Summary: The IRS announced the application window for the 2026 CAP program, running September 3 through October 31, 2025. Successful applicants will be informed in February 2026. CAP promotes real-time issue resolution between large corporations and the IRS, preventing disputes after returns are filed.Key details:Applicants must have assets of $10 million or more.Eligible entities: U.S. publicly traded corporations (required to file SEC 10-K, 10-Q, 8-K) or privately held C-corporations, including foreign-owned.Privately held applicants must submit audited financial statements with an unqualified audit opinion (GAAP, IFRS, or approved standard) and unaudited quarterly reports.Audited financials must reconcile with Schedule M-3 Line 4(a).Entities under investigation or litigation restricting IRS access are not eligible.Next steps: Full program details and updates available on the IRS CAP webpage.

Summary:The IRS and Security Summit partners highlight three core defenses against tax-related identity theft: multi-factor authentication (MFA), Identity Protection PINs (IP PINs), and IRS Online/Tax Pro Accounts. The update stresses that MFA is now a federal requirement under the FTC Safeguards Rule for protecting client data and encourages all taxpayers to enroll in IP PINs and set up secure IRS Online Accounts.Key takeaways:MFA is mandatory for tax professionals and strongly recommended wherever client data is accessed or stored. It blocks attacks that exploit weak or stolen passwords.IP PINs are six-digit codes that help prevent fraudulent e-filing using someone’s SSN. The program is voluntary, identity-verified, and refreshed annually.IRS Online Account helps taxpayers securely view account details and prevents creation of fraudulent accounts. Tax Pro Account lets practitioners manage authorizations and request POA/Tax Information Authorization digitally.The Security Summit (IRS, states, industry, and tax pros) continues its annual “Protect Your Clients, Protect Yourself” series and features security sessions at the Nationwide Tax Forum events in Orlando (Aug 26), Baltimore (Sept 9), and San Diego (Sept 16).Action steps:For taxpayers: Create an IRS Online Account; enroll in an IP PIN after verifying your identity; never share your IP PIN except with the IRS and a trusted preparer; beware of calls/emails/texts asking for the IP PIN (the IRS won’t ask).For tax pros: Enable MFA everywhere (tax software, cloud storage, remote access, practice management tools); evaluate MFA methods regularly; never share usernames; use Tax Pro Account to manage client authorizations; ensure firm-wide compliance with the FTC Safeguards Rule.Notable reminders:Tax pros cannot obtain IP PINs for clients—clients must get their own.MFA should be used on both local systems and any software or services that store client data.Identity theft victims will continue to receive annual IP PINs automatically.Resources to search on IRS.gov:“Get an IP PIN”“IRS Online Account”“Tax Pro Account”“Security Summit” and Nationwide Tax Forum details

Summary:The IRS has announced that, as part of the phased implementation of the One Big Beautiful Bill Act, there will be no changes to individual information returns or federal income tax withholding tables for Tax Year 2025. This means that forms such as W-2, existing 1099s, Form 941, and other payroll return forms will remain unchanged for 2025. Employers and payroll providers should continue using current procedures for reporting and withholding.These decisions are intended to avoid disruptions during the tax filing season and to give the IRS, businesses, and tax professionals enough time to implement future changes effectively.Looking Ahead:For Tax Year 2026, the IRS is preparing new guidance and updated forms, including changes to how tips and overtime pay are reported. The IRS will coordinate with employers, payroll providers, and tax professionals to ensure a smooth transition. More information will be shared in the coming months about how taxpayers can claim OBBBA-related tax benefits when they file their returns.

Summary:The Internal Revenue Service (IRS) has issued a reminder that employers can continue to use educational assistance programs to help employees pay down student loans through December 31, 2025. Under current law, employers may contribute up to $5,250 annually per employee toward student loan repayment, and these payments are not counted as taxable wages. This provision, originally expanded by pandemic relief measures, allows workers to receive tax-free help paying down qualifying student debt.Key Points:Employers can contribute up to $5,250 per year, per employee, for student loan repayment, tax-free.This benefit is available through December 31, 2025.Student loan payments can be included as part of broader educational assistance programs, which also cover tuition, books, and other education expenses.For more information, employers should refer to IRS Publication 15-B, Employer’s Tax Guide to Fringe Benefits.

The Internal Revenue Service (IRS) reminds tax professionals that space is filling up quickly for the remaining 2025 IRS Nationwide Tax Forum events. Forums in Chicago, New Orleans, and San Diego have already sold out. The IRS encourages those planning to attend in Orlando or Baltimore to register before the standard rate deadlines.Key Points:The IRS Nationwide Tax Forum is a major event for tax professionals, offering education and updates.Forums in Chicago, New Orleans, and San Diego are sold out.Registration is still open for Orlando and Baltimore, but space is limited.Tax professionals are urged to register as soon as possible to secure their spot and take advantage of the standard rate.

The IRS is reminding taxpayers in twelve states affected by 2024 disaster declarations that they automatically have until May 1, 2025, to file and pay their 2024 federal income taxes. Find out if you're in an eligible area and what other tax relief may be available.

Facing a tax bill you can't pay by the deadline? Don't worry! This episode breaks down the IRS's reminder about available payment plan options, helping you understand how to navigate your tax obligations without unnecessary penalties.

Are you a U.S. citizen or resident alien living or working outside the United States? Don't let the tax deadline sneak up on you! This episode is a crucial reminder that the deadline to file your 2024 U.S. federal income tax return is Monday, June 16th, 2025. We break down who this extended deadline applies to, what you need to know about potential interest charges, and important information about requesting further extensions if needed. We also cover key tax considerations for Americans abroad, including eligibility for benefits like the Foreign Earned Income Exclusion, reporting foreign accounts, and payment options. Tune in to ensure you're compliant and avoid any unnecessary penalties!

Join us as we explore the remarkable 50-year journey of the Earned Income Tax Credit (EITC). This vital program, signed into law on March 29th, 1975, has become one of the federal government's most impactful anti-poverty initiatives, providing crucial financial support to millions of low-to-moderate income working families. We delve into the history of the EITC, tracing its evolution from a modest beginning to the significant force it is today. Discover how this credit has helped families cover essential needs, save for the future, and build greater financial stability over the past five decades. We'll look at the numbers – the billions of dollars distributed and the millions of families reached – and highlight the enduring importance of the EITC in empowering working individuals and families.

Tax season is here, but filing doesn't have to break the bank! Discover IRS Free File, a quick and easy way for eligible taxpayers (AGI $84,000 or less) to file their federal tax returns for free. We'll break down the benefits, who qualifies, and explore other no-cost filing options like Direct File, Free File Fillable Forms, VITA, TCE, and MilTax. Say goodbye to expensive tax software and hello to stress-free filing!

The clock is ticking towards the April 15th tax filing deadline! Are you ready? This episode dives into crucial tips and reminders from the IRS to help you file your federal tax return accurately, avoid common mistakes, and potentially speed up your refund. We'll cover everything from gathering your necessary documents and ensuring your personal information is correct, to the benefits of e-filing and direct deposit. Whether you're a seasoned filer or tackling your taxes for the first time, this episode will equip you with the knowledge you need for a stress-free tax season.

This episode breaks down the recent announcement from the IRS Criminal Investigation (IRS-CI) division, naming Gary Shapley as its new Deputy Chief. We explore his extensive background in international tax and financial crime investigations, his previous roles within the IRS and Department of Treasury, and what this appointment means for the future of tackling complex financial offenses both domestically and abroad.

Did severe storms in West Virginia impact your taxes? The IRS has announced tax relief for individuals and businesses in specific counties affected by the February 2025 storms. This episode breaks down the details of the tax relief, including extended deadlines for filing and payments, and what you need to do to take advantage of these benefits. We'll cover which counties are eligible, what types of taxes are covered, and how to claim disaster-related losses. Don't miss this crucial information if you've been affected by the West Virginia storms!

Are you a retiree who turned 73 in 2024? The IRS is reminding you about an important deadline! In this episode, we break down the IRS's recent announcement (IR-2025-33) regarding Required Minimum Distributions (RMDs) from your IRAs, 401(k)s, and other retirement plans. We'll cover the crucial April 1st deadline for taking your first RMD, who it applies to, and what happens if you miss it.

Tax season is upon us! Don't get caught off guard with late filing or payment penalties. In this episode, we break down the IRS's recommendations for using electronic payment options to ensure fast, safe, and timely tax payments. We'll cover everything from IRS Free File for extensions to online payment plans and even options for those struggling to pay. Learn how to navigate the IRS website and mobile app to make tax time a breeze.

Time is running out! The IRS says over 1 million people are owed a share of $1 billion in unclaimed tax refunds from 2021. The deadline to claim this money is April 15th. Find out if you're one of them and how to get your refund. Don't leave money on the table!Show Notes:IRS estimates over 1.1 million people have unclaimed 2021 tax refunds.Deadline to claim: April 15th.Total unclaimed: Over $1 billion.Median refund amount: $781.You may be eligible for the Earned Income Tax Credit (EITC) even if you didn't file.Find forms and instructions at IRS.gov.Learn how to get copies of missing W-2s and other documents.

Tax season is coming! Learn about the IRS's free options for preparing and filing your taxes in 2025, including the expanded Direct File program now available in 25 states. We'll cover Direct File, IRS Free File, and other resources to help you save money and file with confidence.

The IRS has announced the interest rates for the second quarter of 2025. Good news: they're staying the same! We break down the rates for individuals and corporations, covering overpayments, underpayments, and what you need to know.

The IRS is streamlining tax season! Learn about the new additions to your IRS Individual Online Account, including W-2s and 1095-As, making it easier than ever to access your important tax documents. We'll cover what's available, how to access it, and what to do if you're still missing information.

Description: Are you a farmer or fisher? Don't miss the March 3rd tax deadline to avoid penalties! This episode covers the key dates, payment options, and special extensions for disaster areas. Plus, we'll point you to the essential IRS resources you need to file correctly.Show Notes: Key Deadline: March 3rd, 2025 (for those who didn't make estimated tax payments) Who's Affected: Farmers and fishers who receive at least 2/3 of their gross income from farming/fishing. Payment Options: IRS Online Account, IRS Direct Pay (links in description) Disaster Area Extensions: Check if you're in an affected area (Alabama, Florida, Georgia, North Carolina, South Carolina, Alaska, New Mexico, Tennessee, Virginia, West Virginia, California, Kentucky) - deadlines vary!

Description: The IRS has released its annual "Dirty Dozen" list of tax scams for 2025. Don't become a victim! We break down the 12 most common threats, from phishing emails and fake charities to misleading tax credits and shady preparers. Learn how to spot the red flags and protect your money and personal information. Show Notes: IRS announcement: [Link to IRS.gov article] The 12 Dirty Dozen Scams for 2025: Email Phishing Scams (Phishing & Smishing) Bad Social Media Advice IRS Individual Online Account Help from Scammers Fake Charities False Fuel Tax Credit Claims Credits for Sick Leave and Family Leave (Form 7202) Bogus Self-Employment Tax Credit Improper Household Employment Taxes (Schedule H) The Overstated Withholding Scam (W-2, 1099s) Misleading Offers in Compromise (OIC) Ghost Tax Return Preparers New Client Scams and Spear Phishing (Targeting Tax Pros) How to report tax scams: Form 14242 ([Link to Form 14242 on IRS.gov]) IRS Offer in Compromise Pre-Qualifier tool: [Link to IRS tool]

Tax season is in full swing! Are you eagerly awaiting your tax refund? This episode dives into the IRS's handy "Where's My Refund?" tool, your go-to resource for tracking your refund status. We'll cover everything you need to know, from how to access the tool to what information you'll need to provide. We'll also discuss common reasons for refund delays and how to avoid them. Stay informed and get your refund faster!

Melanie Krause steps in as acting IRS Commissioner following Doug O'Donnell's retirement after a distinguished 38-year career. We discuss the implications of this leadership transition at a crucial time for the IRS.

Episode Description:Tax season is upon us! Are you ready to file your 2024 tax return? In this episode, we break down the IRS's Tax Time Guide 2025, highlighting essential preparations and significant changes you need to know. We'll cover everything from updated deduction amounts and credit enhancements to new reporting requirements and free filing options. Don't get caught off guard – listen now and ensure a smooth and accurate tax filing experience!Show Notes:Welcome to the 2025 tax filing season! The IRS has released its annual Tax Time Guide to help you navigate the process. Here's what you need to know to file your 2024 tax return accurately and efficiently:Key Takeaways from the IRS Tax Time Guide 2025: Filing Deadline: Remember, the deadline to file Form 1040 or 1040-SR is April 15, 2025. Gather Your Documents: Don't file until you have all necessary tax documents (W-2s, 1099s, etc.). Double-check for accuracy and contact your employer or payer immediately if you find errors. IRS Online Account: Create an IRS Online Account for secure access to your tax information, payment history, and records. This can help you stay organized and identify potential deductions or credits. ITIN Renewal: If you have an Individual Taxpayer Identification Number (ITIN), check if it has expired and renew it to avoid processing delays.

Episode Description:Ditch the hold music! This episode reveals how to use the IRS's online tools to get your tax questions answered faster and easier. We'll cover everything from checking your refund status to finding free filing options, all from the comfort of your couch. Save time and stress this tax season – listen now!Show Notes (Simplified):Intro: Why online tools are better than phone lines.Key Tools:IRS Free FileWhere's My Refund?Individual Online AccountInteractive Tax Assistant (ITA)Quick Tips:Check your withholding.Beware of ghost preparers.Resources: IRS.gov

Episode Title: Choose Your Tax Preparer Wisely!Episode Description:Don't risk identity theft! The IRS urges careful selection of tax preparers (IR-2025-21). Learn red flags, find qualified pros, and explore free filing options. Protect your information and file with confidence!Show Notes:IRS Warning: Choose tax preparers carefully.Red Flags: "Ghost" preparers, no PTIN.Find Qualified Pros: IRS Directory, IRS.gov.Free Options: VITA (income limits), TCE (seniors).Tips: Year-round availability, check credentials, review return.Report Misconduct: Form 14157, 14157-A.Resources: IRS Publications 5895, 17. Hosted on Acast. See acast.com/privacy for more information.

Episode Title: EITC Awareness Day: 50 Years of Helping Working FamiliesDescription: The IRS and national partners are celebrating 50 years of the Earned Income Tax Credit (EITC)! Learn if you qualify for this valuable tax break, which can put thousands of dollars back in your pocket. We'll cover eligibility, how to claim it, and new changes for this tax season. Don't miss out!Show Notes:EITC 50th Anniversary: The IRS and partners launched EITC Awareness Day to highlight this important credit.Who's Eligible? Income limits, citizenship requirements, and more. Use the EITC Assistant tool to check your eligibility.How Much? The average EITC refund was $2,743 in 2023, with a maximum of $7,830 for families with children in 2024.How to Claim: IRS Free File, Direct File, tax professionals, and free VITA/TCE sites.New This Year: E-filing with duplicate dependents is now easier with an IP PIN.Refund Timing: Expect EITC/ACTC refunds by March 3rd if you file early and choose direct deposit.Resources:IRS EITC Central: [Link to EITC Central]EITC Assistant: [Link to EITC Assistant]VITA/TCE Locator: [Link to VITA/TCE Locator]Publication 596: [Link to Publication 596] Hosted on Acast. See acast.com/privacy for more information.

Episode Title: Tax Time Made Easy: Top Tips from the IRSDescription: Feeling overwhelmed by tax season? The IRS just released their top 6 tips to make filing your 2024 return smoother. We break down what you need to know, from gathering documents to free filing options. Don't miss out on potential refunds and avoid headaches!Show Notes:IRS released 6 tips to simplify tax filing (IR-2025-19, Jan. 30, 2025)Key Documents: Social Security numbers, bank info, W-2s, 1099s, 1098s, digital asset records, 1095-A, IRS letters.Report All Income: Online sales, investments, part-time work, self-employment, app-based services.File Electronically: Faster refunds, less errors.Free Filing Options:IRS Free File (income under $84,000)Direct File (25 states, expanded support)Free File Fillable Forms (for those comfortable with taxes)VITA/TCE (free help for eligible taxpayers)MilTax (military community)Choosing a Filing Method: Self-file, online services, tax professional (check credentials).IRS Online Resources: IRS.gov, Interactive Tax Assistant, IRS2Go app, social media. Hosted on Acast. See acast.com/privacy for more information.

Episode Title: Tax Season is Open! What You Need to Know for 2025Description: The IRS has officially opened the 2025 tax filing season! Millions of returns are already in, and the deadline is April 15th. We break down key dates, free filing options, and how to avoid scams. Get your taxes done right this year!Show Notes:The 2025 tax filing season is officially open as of January 27, 2025.The IRS expects over 140 million individual tax returns for tax year 2024.The filing deadline is April 15th.Free Filing Options:IRS Free File (for those with income of $84,000 or less)IRS Direct File (available in 25 participating states)Volunteer Income Tax Assistance (VITA)Tax Counseling for the Elderly (TCE)MilTax (for military members and some veterans)Key Tips:File electronically and choose direct deposit for faster refunds.Wait for all income documents before filing.Use a trusted tax professional.Be aware of tax scams.New IRS Improvements:Enhanced IRS Online Account features.New scam alert banner on the Online Account.Redesigned notices.Mobile-adaptive tax forms.Virtual assistants for refund and other questions.Refunds: Most refunds issued in less than 21 days, but don't rely on a specific date. EITC/ACTC refunds may be delayed until after mid-February. Hosted on Acast. See acast.com/privacy for more information.