Football season is about to kick off. If you’ll be betting on college and NFL games this year, it’s time to brush up on the tax rules associated with gambling. Federal tax law requires taxpayers to report winnings on their tax returns, even if they don’t receive a Form W-2G for gambling winnings. Also a […]

Read More Time for a brush up on sports betting

Tax revenues reached a record level during fiscal year (FY) 2025, but revenue from tax audits took a hit, according to a new report from the Treasury Inspector General for Tax Administration (TIGTA). Taxpayers paid the IRS $5.3 trillion, a 4.2% increase from FY 2024 and the most tax revenue ever paid by taxpayers, without […]

Read More Record Tax Revenues, but IRS Audit Revenue Falls

Does your business provide vehicles for employees to use? Business use of an employer-provided vehicle is generally excluded from an employee’s income, but personal use, such as commuting or running personal errands, is generally taxable. Employers must determine the value of personal use using an appropriate valuation method (such as cents-per-mile, commuting valuation or automobile […]

Read More Company Car? Personal Use Can Create a Taxable Benefit

You don’t have to engage with the IRS on your own. The tax agency allows third-party authorizations, meaning you can ask a family member, friend, tax advisor or attorney to help with tax matters you specify. You may provide power of attorney to professionals authorized to practice before the IRS. They can represent and sign […]

Read More You Don’t Have to Face the IRS Alone

The Taxpayer Advocate Service (TAS) is sharing tips for taxpayers who may be eligible for the IRS’s Automatic Exemption from Penalty (AEP) program. You may qualify if you have a history of timely filing and payment compliance. The AEP fully replaces the First Time Abate program for original returns with due dates on or after […]

Read More Could You Qualify for Automatic IRS Penalty Relief?

There are many reasons individuals may need to access their tax transcripts. They include the need to file a tax return or apply for a mortgage or loan. In a Tax Tip (2026-25), the IRS lists several types of tax transcripts available for free to taxpayers. A tax return transcript shows most line items from […]

Read More Need a Copy of Your Tax Records? Know Your Transcript Options

The IRS has established an Office of Conservation Easements to centralize expertise and coordinate policy, enforcement and case resolution involving conservation and historic preservation easements. As part of the transition, the IRS has ended its uniform settlement initiative (announced on May 13, 2026) and withdrawn deadlines for accepting previously issued offers. Prior elections remain in […]

Read More IRS Changes Course on Conservation Easement Tax Settlements