Tax-Related Identity Theft Is on the Rise: What You Can Do

Tax-related identity theft happens when a thief steals your Social Security number and uses it to file a tax return and claim a fraudulent refund in your name. According to an interim report by the Treasury Inspector General for Tax Administration, 58,276 fraudulent tax returns were identified in the 2025 filing season. How can taxpayers […]

Teachers, You Might Be Leaving Money on the Table—Here’s How to Claim It

A new school year is ramping up, which means teachers and other educators have been working hard to prepare their classrooms before classes begin. Qualified educators can claim an above-the-line tax deduction for unreimbursed expenses. The deduction is $300 for 2025 and will be adjusted for inflation in the future. Married educators who file a […]

IRS Whistleblower Tip Denied—Here’s Why It Didn’t Count

Taxpayers who give the IRS Whistleblower Office (WBO) credible, specific tips about unpaid taxes may qualify for cash awards. But certain conditions must be met. The IRS must act on the tip and the WBO must collect proceeds from that action. In one new case, a tipster alleged transfer pricing violations by a multinational corporation. […]

Big Tariff Money Means Big Rebates? Here’s What Lawmakers Are Proposing

Even before the new tariffs on foreign goods kicked in on Aug. 7, 2025, tariffs were generating a lot of cash. According to the U.S. Treasury, the federal government received $152 billion in tariff revenue for the year through July. That’s double the $78 billion collected over the same period last year. President Trump said […]

No More Cap? New Bill Could Make High Incomes Pay More into Social Security

Two lawmakers, Senator Mazie Hirono (D-HI) and Representative Jill Tokuda (D-HI), have reintroduced the Protecting and Preserving Social Security Act. It would affect how payroll taxes apply to people with high incomes. Currently, Social Security taxes are applied to wages and self-employment income up to a certain annual limit ($176,100 in 2025). Earnings above this […]

2025 Tax Year Payroll Reporting Remains Unchanged—Guidance Coming for 2026

As part of its phased implementation of the One Big Beautiful Bill Act (OBBBA), the IRS announced that there will be no changes to certain information returns and withholding tables for tax year 2025. Specifically, Forms W-2, existing Forms 1099, and Forms 941 and other payroll return forms will remain unchanged for 2025. Federal income […]

Billy Long Out as IRS Commissioner — What’s Next?

President Trump has removed Billy Long as the IRS commissioner. Long, a former Republican member of Congress from Missouri, was sworn in as the 51st IRS commissioner in June. His term was to run through June 2027. Treasury Secretary Scott Bessent will temporarily serve as acting IRS commissioner. Since Trump took office in January, the […]

Tax Avoidance = Smart Planning; Tax Evasion = Crime

What’s the difference between tax avoidance and tax evasion? Tax avoidance is taking legitimate actions to reduce your tax bill, such as funding an IRA or appropriately claiming a tax credit. Tax evasion is willful noncompliance with the tax law. This includes actions such as falsifying tax records, inflating expenses and hiding income, which can […]

Employers Have Until Dec. 31, 2025 to Offer Student Loan Repayment Benefits

Employers seeking to attract new recruits and retain talent may want to offer educational assistance programs to their employees. The plans aren’t new, but they temporarily offer greater flexibility in how they work. Through Dec. 31, 2025, the funds can be used to help employees pay their federal student loan debts. According to the U.S. […]

Fact or Fiction? IRS Urges Caution with Tax Advice on Social Media

The IRS is reminding taxpayers that not all tax advice promoted on social media platforms is accurate. To help people access legitimate information, the IRS has listed websites (http://bit.ly/45o4V4s ) where it has an official presence: Facebook, YouTube, X, Instagram and LinkedIn. In general, these IRS accounts provide tax law news, event announcements and filing […]