Legal News
Changes to the energy efficient home improvements, residential clean energy credits may benefit your clients
If your client makes energy efficiency improvements to their home, they may be eligible for the energy efficient home improvement and residential clean energy tax credits for part of the qualifying expenses. Check out an IRS video on energy efficient home improvements...
Prepare now for new Form 1099-K reporting threshold
A new reporting threshold for Form 1099-K, Payment Card and Third-Party Network Transactions, will start in tax year 2023. Encourage your clients to start keeping good records now for the next filing season. Find more information at IRS.gov/1099k.
IRS to update Allowable Living Expense standards for 2023
Allowable Living Expense (ALE) standards for 2023 will be available April 24. The ALE standards reduce subjectivity when determining what a taxpayer may claim as basic living expenses to avoid undue hardship when the taxpayer must delay full payment of a delinquent...
Get ready for the 2024 filing season with the IRS Tax Withholding Estimator
Tax pros: Use the IRS Tax Withholding Estimator to update the amount of tax your clients have deducted from their 2023 pay. This online tool, which is available in English and Spanish, can help people adjust how much is withheld and could put more cash in their pocket...
Missed the tax filing deadline? File now to limit penalties, interest
Urge taxpayers who missed Tuesday's April 18 tax-filing deadline to file as soon as possible. Taxpayers who owe and missed the deadline without requesting an extension should file quickly to limit penalties and interest. For struggling taxpayers unable to pay their...