Company Car? Personal Use Can Create a Taxable Benefit

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 […]

You Don’t Have to Face the IRS Alone

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 […]

Could You Qualify for Automatic IRS Penalty Relief?

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 […]

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

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 […]

IRS Changes Course on Conservation Easement Tax Settlements

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 As part of the transition, the IRS has ended its uniform settlement initiative (announced on May 13, 2026) and withdrawn deadlines for accepting previously issued offers.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 […]

Canadian tariffs take effect September 8

U.S. businesses that export goods to Canada should prepare for tariffs taking effect Sept. 8, 2026. Canada will impose tariffs of 15%, 25% or 50% on certain U.S.-origin products, with rates varying by product. Affected sectors include agricultural equipment, appliances, dairy, electronics, pulp and paper, and steel. The measures apply only to goods originating in […]

The Right to Finality, what is that?

One of the items contained in the IRS’s Taxpayer Bill of Rights is the right to finality. Although finality may sound a little obscure, this right is critical if you’re being audited. For example, the IRS usually has a limit of three years from your filing date to assess additional tax (but it has unlimited […]

Can You Deduct Long-Term Care Insurance Premiums? It Depends

Are long-term care (LTC) insurance premiums tax-deductible? It depends. Qualified LTC policies are considered health insurance under federal income tax rules. So if you buy a policy, your premiums are treated as medical expenses for itemized deduction purposes. But your total eligible medical expenses for the year must meet the 7.5% of adjusted gross income […]

Need to Prove You’re Tax Compliant? There’s a New IRS Tool

The IRS has launched a digitally authenticated Tax Compliance Report that taxpayers can access through their IRS Individual Online Accounts. A tax compliance report shows whether an individual has filed tax returns and paid taxes on time. The report helps protect privacy by not showing the individual’s income, dependents or filing status. You can securely […]

Make Your Business More Accessible — and Get a Tax Credit

Improving accessibility at your business may come with a valuable tax break: Eligible small businesses can claim the Disabled Access Credit for certain costs related to improving accessibility for individuals with disabilities. A business may qualify if, in the prior tax year, it had gross receipts of $1 million or less or no more than […]