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WASHINGTON, D.C. — The Internal Revenue Service (IRS) issued Notice 2024-85 this week, granting transitional relief for third-party settlement organizations (TPSOs) regarding transaction reporting and backup withholding requirements. This guidance sets …
IRS Provides Transitional Relief for Third-Party Settlement Organizations on Reporting Thresholds Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) is emphasizing the importance of retirement savings for low- and moderate-income taxpayers by reminding them of the benefits of the Saver’s Credit. Designed …
Unlock Tax Savings While Building Your Future: Don’t Miss the Saver’s Credit Benefits Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has announced a significant policy change designed to streamline the process for taxpayers filing returns with duplicate dependents while enhancing protections against identity …
IRS Unveils New Policy to Fast-Track Tax Refunds and Combat Identity Theft with IP PIN Requirement Read More
WASHINGTON, D.C. — The Internal Revenue Service Advisory Council (IRSAC), a key panel of experts tasked with advising the IRS on critical tax administration matters, has released its 2024 Public Report. …
IRS Advisory Council 2024 Report Offers Key Recommendations for Tax Administration Overhaul Read More
WASHINGTON, D.C. — The U.S. Department of the Treasury and the Internal Revenue Service (IRS) recently released final regulations designed to broaden the availability of clean energy tax credits for entities …
IRS and Treasury Open Floodgates for Clean Energy Funding in Game-Changing Tax Credit Rule Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has issued a significant reminder to owners of individual retirement arrangements (IRAs) aged 70½ and older, highlighting an increase in the limit for …
Boost Your Giving: IRS Raises Limits on Tax-Free Charitable Donations from IRAs Read More
KING OF PRUSSIA, PA — Vertex Inc. (NASDAQ: VERX) has unveiled a new survey showcasing the critical role of automation and digital transformation in enhancing business growth within tax and …
Vertex Inc. Highlights Urgency in Tax and Finance Transformation Survey Read More
WASHINGTON, D.C. — As open enrollment season commences, the Internal Revenue Service (IRS) is urging taxpayers to take full advantage of flexible spending arrangements (FSAs), highlighting the significant tax benefits and …
IRS Urges Taxpayers to Maximize Savings with Flexible Spending Arrangements During Open Enrollment Read More WASHINGTON, D.C. — The Internal Revenue Service (IRS) has unveiled its Fiscal Year 2024 Financial Report, showcasing a year marked by substantial revenue collections, commendable financial management, and overcoming longstanding challenges. …
IRS Reports Robust Financial Year Amid Significant Achievements and Challenges Read More
WASHINGTON, D.C. — The Internal Revenue Service (IRS) has announced an increase in the contribution limits for various retirement savings plans for the year 2025, marking a continued effort to enhance …
IRS Announces Increased Contribution Limits for Retirement Plans in 2025 Read More