New Tax Interest Rates Starting in April
Starting April 1st, there will be changes to the interest rates for overpayments and underpayments by individuals and corporations…
Stalled Tax Relief Legislation Awaits Senate Action
This $78 billion proposal, which encompasses a range of tax breaks, received approval from the House but awaits consideration by the Senate Finance Committee…
Hawaii wildfire victims receive tax filing extensions from the IRS
Hawaii taxpayers in Maui and Hawaii counties are receiving tax relief from the IRS amid the wildfires. The relief allows taxpayers until February 15th, 2024 to file various federal individual and business tax returns and make tax payments that would have been due before then…
IRS officially announces paperless tax processing by 2025
The IRS plans to achieve completely paperless capabilities by the 2025 filing season, and are hoping to allow taxpayers to digitally submit all agency correspondence by 2024. This will be done in efforts to improve the agency’s technology infrastructure, client service, and other activities…
SEC asked Coinbase to trade only in bitcoin before suing crypto exchange
In June, the U.S. Securities and Exchange Commission (SEC) asked Coinbase to only trade in bitcoin, excluding all other cryptocurrencies, before suing the cryptocurrency platform…
Due to safety concerns, IRS ends unannounced taxpayer visits
Effective immediately, the IRS has ended unannounced visits to taxpayers’ homes in an effort to protect agency revenue officers amid safety concerns. The agency now has an alternative method for collecting tax debt.