New IRS Mobile App Simplifies Access to Taxpayer Services
The new IRS Mobile App Simplifies Access to Taxpayer Services The Internal Revenue Service (IRS) has introduced a new mobile app designed to make it easier for taxpayers to access important tax information and services directly from their smartphones and tablets. The new IRS app replaces the former IRS2Go application and provides expanded self-service capabilities while maintaining secure access to taxpayer accounts. A More Convenient Way to Manage Tax Matters As technology c
IRS announces extension of tax relief for farmers and ranchers affected by drought in 49 states, other regions
WASHINGTON − The Internal Revenue Service today issued guidance that provides an extension of tax relief for farmers and ranchers in most states and other regions who sold or exchanged livestock because of drought conditions. Under the guidance, those affected may take more time to replace their livestock and defer tax on any gains from the forced sales or exchanges. “Large swaths of the United States continue to experience drought conditions, distressing hard-working America
Am I required to file a Form 1099 or other information return?
If, as part of your trade or business, you made any of the following types of payments, use the link to be directed to information on filing the appropriate information return. A payment exceeding the amount of the reporting threshold for the following during the year (Form 1099-NEC): Services performed by someone who is not your employee (including parts and materials) Cash payments for fish (or other aquatic life) you purchase from anyone engaged in the trade or business of
IRS Proposes New Rules for Refundable Tax Credits: What Taxpayers Need to Know
The U.S. Department of the Treasury and the Internal Revenue Service (IRS) recently announced proposed regulations aimed at clarifying eligibility requirements for certain refundable tax credits. The proposal is intended to strengthen enforcement of existing federal law and ensure that taxpayer-funded refundable benefits are distributed only to individuals who meet the legal eligibility requirements. The proposal does not create new tax credits or eliminate existing credits.
Big Tax Savings: IRS Expands the Paid Family and Medical Leave Credit
The Internal Revenue Service (IRS) released Notice 2026-28, offering businesses crucial guidance on the permanently expanded Paid Family and Medical Leave (PFML) tax credit under Section 45S. This change stems from the One Big Beautiful Bill Act (OBBBA), which made the temporary tax incentive permanent and significantly expanded its reach. If your business offers or is considering offering paid leave, these new rules can heavily offset your costs. What is the Section 45S Tax