Did you request a six-month extension to file your 2022 income tax return? The IRS is reminding those taxpayers who requested an extension that the Oct. 16 deadline to file their Forms 1040 is fast approaching. Failure to file by the extended deadline could result in a late-filing penalty. However, due to several extreme weather […]

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The good news is that the government has averted a shutdown with a last-minute continuing resolution funding deal this past weekend. The bad news is the funding lasts for only 45 days, so Congress will have to negotiate a new deal or there will be a shutdown then. In preparation for a possible shutdown, the […]

Read More How long till the next government shutdown deadline?

Supreme Court tax case could have sweeping federal policy effects, experts say – CNBC https://bit.ly/3rEUGJd 

Read More Supreme Court tax case could have sweeping federal policy effects

Employers that offer educational assistance programs to their employees now have greater flexibility in how these programs work. Through Dec. 31, 2025, the funds can be used to help employees pay their federal student loan debts. According to the Education Data Initiative, borrowers in 2023 have average federal student loan debt of $37,338. Offering assistance […]

Read More Education assistance programs can be used to help with student loans

It’s critical to get the details right when mailing items to the IRS. Most taxpayers know that a tax return and payment (or other documents) must be mailed by the due date, to the correct address and with adequate postage. But in one case, a taxpayer was charged with failure to timely file his return […]

Read More Tax Court case shows importance of mailing to correct IRS address

The battle between tax pros and social media: Many apps offer unreliable tax advice, experts say – CNBC https://bit.ly/3tnt0sJ 

Read More The battle between tax pros and social media

The IRS has just announced special per diem rates for ordinary and necessary business travel expenses in fiscal year 2023-24. The rate for incidental expenses when traveling in or outside the continental United States (CONUS) will be $5 per day. When using the high-low substantiation method, the rate for travel to high-cost localities will be […]

Read More Special per diem rates announced

Portions of Massachusetts and Maine have been declared federal disaster areas following the landfall of Hurricane Lee on Sept. 15, 2023. Residents and businesses in the affected counties may qualify for tax relief. The IRS has extended most filing deadlines falling on or after Sept. 15, 2023, and before Feb. 15, 2024, to Feb. 15, […]

Read More Disaster Tax relief announced for Massachesetts and Maine

The IRS is expanding its use of chatbot technology. The agency has used chatbot features since early 2022 to help more than 13 million taxpayers avoid wait times by resolving their tax issues, including setting up roughly $151 million in payment agreements. The IRS will now employ a chatbot technology to help answer basic questions […]

Read More IRS expands use of chatbot AI