Charitable Planning in July

July 4, 2025
July is a great month to consider plans for charitable gifts in 2025. These gifts could include an IRA charitable rollover, a gift of cash or a gift of appreciated stock or land...

National Taxpayer Advocate Calls the Tax Season a Measured Success

June 27, 2025
Each year, the National Taxpayer Advocate (NTA) reviews the tax filing season and publishes a report with findings and objectives for the next year...

Energy Credits Available for 2025

June 20, 2025
The House and Senate are working on a major tax bill. Both the House and Senate propose allowing energy credits for 2025. However, the Senate bill proposes eliminating some energy credits within 180 days after the tax bill is enacted...

Guard Against Phishing Emails

June 13, 2025
As part of its ongoing awareness campaign, the Internal Revenue Service (IRS) Security Summit warns taxpayers and professional advisors to be aware of the latest email phishing scams. Because both tax advisors and individuals are active users of email, there is frequent opportunity for identity thieves to trick individuals into...

Protect Yourself from Summer Scams

June 6, 2025
During the summer season, the Internal Revenue Service (IRS) reminds consumers to protect themselves from potential identity thieves...

IRS Collects $5.1 Trillion in 2024

May 30, 2025
On May 29, 2025, the Internal Revenue Service (IRS) issued the Data Book for fiscal 2024. The Data Book is an annual report on tax revenue and IRS activities for the prior year...

IRS Increases Use of Chatbots

May 23, 2025
Since the first chatbots were installed by the Internal Revenue Service (IRS) in December of 2021, the Service has continued to improve and increase the use of computers to assist taxpayers...

IRS Advice for Late Filers, Extenders and Nonprofits

May 16, 2025
In a series of letters, the Internal Revenue Service (IRS) provided advice to late filers, those who have extended their deadline to file until October and nonprofits. Taxpayers who missed the April 15 filing deadline should file promptly. Those who filed for an extension have until October 15 to file...

Avoiding Scammers Who Claim to be IRS Agents

May 9, 2025
The Internal Revenue Service (IRS) is concerned because there are continuing scams on taxpayers taking place by phone, text, email, and in-person. The IRS reminds taxpayers that it normally initiates contact with a letter or written notice to a taxpayer and does not contact through phone calls, texts or emails...

Prepare for Summer Wildfires and Hurricanes

May 2, 2025
The Internal Revenue Service (IRS) reminds taxpayers that May is National Wildfire Awareness Month and the week of May 4th to the 10th is National Hurricane Preparedness Week. The National Oceanic and Atmospheric Administration (NOAA) have warned that there is a substantial chance that the Atlantic hurricane season will be...

Benefit in 2025 With an IRA Charitable Rollover

April 25, 2025
Each year, traditional IRA owners aged 73 and older must take a required minimum distribution (RMD). In nearly all cases, the RMD is calculated using the Uniform Lifetime Table...

Late Filer Penalty Relief

April 18, 2025
On April 16, 2025, the Internal Revenue Service (IRS) explained the penalty relief options for taxpayers who missed the filing deadline. The IRS encourages taxpayers to file and pay taxes if they are able to do so. Taxpayers who make partial payments toward their tax debt can reduce the accrued...

Tax Deadline - eFile or Request Extension

April 11, 2025
The April 15 tax deadline is rapidly approaching. The Internal Revenue Service (IRS) reminds taxpayers they should promptly file their tax return. The best practice is to file a return electronically and request any refund directly to your bank account...

Tax Payment Plan Options

April 4, 2025
The Internal Revenue Service (IRS) reminded Taxpayers of the April 15 tax filing and payment deadline. If you are not in a disaster area, a combat zone or are living and working abroad, you are obligated to pay income taxes on April 15. If you do not pay your taxes...

Correct Tax Returns Speed Up Refunds

March 28, 2025
On March 24, 2025, the Internal Revenue Service (IRS) reminded taxpayers that they can improve the probability of a prompt refund by filing a correct tax return. The IRS offered tax tips on the best ways to ensure a speedy refund...

Avoid Identity Theft During Tax Season

March 21, 2025
During tax season, fraudsters use the latest strategies to steal identities. With the tax filing season in full swing, taxpayers need to remain vigilant for strategies that may involve text messages, emails, phone calls or potential unemployment fraud...

Direct File Expands to 25 States

March 14, 2025
The Internal Revenue Service (IRS) recently reminded taxpayers that they can file their 2024 returns at no cost. The IRS Direct File program has been enhanced and expanded this year to be available in 25 states...

Avoid the Top Tax Return Errors

March 7, 2025
The Internal Revenue Service (IRS) reports that many taxpayers make simple errors on their returns. While those who file electronic returns tend to have fewer errors, there are still many taxpayers who improperly report their taxable income or incorrectly claim credits and deductions. The use of a tax preparer, such...

Prepare for Natural Disasters in 2025

February 28, 2025
As homeowners view the devastation from the Eaton and Pacific Palisades fires in Southern California, it is a good opportunity to review your preparations in case of a natural disaster...

Tax Tips for Smooth Filing

February 21, 2025
With the 2025 tax season in full motion, the Internal Revenue Service (IRS) published a guide with top tax tips for taxpayers...