Tax forms don’t usually make exciting reading, but the 2026 Form 1040 has some changes worth knowing about. Several new deductions and tax provisions will affect the way certain taxpayers report their information on their 2026 federal tax returns. The IRS has released a draft of the 2026 Form 1040, and while the form is not yet
🗞️What’s New on the 2026 Form 1040? Read More »
If you like being able to handle things from your phone, the IRS has some good news: IRS2Go has been replaced by a new IRS mobile app, giving taxpayers access to more tax-related services right from their phones. The new app officially launched on September 25, 2026, and it keeps many of the familiar IRS2Go
🗞️The IRS Has a New Mobile App — Here’s What Taxpayers Should Know Read More »
A taxpayer identification number—or TIN—is the number the IRS uses to associate income with the correct taxpayer. Depending on the payee, it may be:– Social Security number (SSN)– Employer identification number (EIN)– Individual taxpayer identification number (ITIN) The IRS TIN Matching program allows eligible payers to confirm that a payee’s legal name and TIN combination matches IRS records
🗞️TIN Matching: A Critical Compliance Step Before Filing Forms 1099 Read More »
The One Big Beautiful Bill Act (OBBBA) introduced several provisions that will affect 2026 income tax returns filed during the 2027 tax season. Although filing may feel far away, the decisions and documentation required begin now. Key changes include:– Qualified Tips Deduction: Eligible employees and self-employed individuals may deduct up to $25,000 of qualified tips, subject to income and
🗞️OBBBA Updates: Prepare Now for the 2027 Tax Season Read More »
For years, taxpayers who qualified for First Time Abate (FTA) relief generally needed to contact the IRS and request that certain penalties be removed. While many eligible taxpayers ultimately received relief, the process often required lengthy phone calls, written correspondence, and significant processing time. The IRS has now begun implementing a new administrative process known
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One of the newest savings opportunities available to families is the Trump Account program, created under recent federal legislation. These accounts are designed to encourage long-term savings for eligible children through tax-advantaged investment accounts, with additional guidance continuing to be released by the Treasury Department and the IRS. Eligible children born between January 1, 2025, and
👶 Trump Accounts: Early Rollout Brings New Opportunities—and Some Challenges Read More »
The second quarter estimated tax payment for tax year 2026 is due on June 15, 2026. Estimated tax payments are generally required for individuals who expect to owe at least $1,000 in federal income tax after withholding and credits. This commonly includes: – Self-employed individuals– Independent contractors– Gig workers– Rental property owners– Investors with significant income not subject to
Reminder: Q2 2026 Estimated Tax Payments Due June 15 Read More »
Receiving a letter from the IRS can feel stressful for both individuals and business owners. Fortunately, most IRS notices are routine and can often be resolved quickly when handled promptly and correctly. The most important thing to remember: don’t ignore IRS correspondence. Why the IRS Sends Notices The IRS sends letters and notices for many reasons, including,
IRS Notices & Letters: What to Do When You Receive One Read More »
The IRS has continued to expand its online services, making an IRS online account a valuable tool for both individuals and business owners. Creating an account gives you secure, direct access to your tax information and can help you stay informed and organized throughout the year — especially during tax season. The future is now! An IRS online
🌐Why Should You Create an Online IRS Account? Read More »
The IRS MATH Act, just signed into law in December 2025, requires the Internal Revenue Service to provide much clearer, more detailed notices when it finds a “math or clerical error” on a taxpayer’s return. Instead of vague, generic letters, taxpayers will now receive plain-language explanations that pinpoint exactly what the issue is — including the line on the
IRS Math and Taxpayer Help Act of 2025: What Does It Mean? Read More »
