IRS closure plan: Workers remain on duty for the initial five workdays
IRS to Maintain Operations Amid Possible Government Shutdown In the event of a government shutdown, all IRS personnel will be required to work during the first five business days. A contingency plan released earlier has expired. The funding from the 2022 Inflation Reduction Act will cover employee salaries. The IRS currently employs over 74,000 individuals, […]
The IRS is updating the process for receiving your tax refund: Here’s what to understand.
IRS to Transition to Electronic Refund Payments The Internal Revenue Service has announced that starting Tuesday, September 30th, it will begin a gradual shift away from paper tax refund checks. This change is part of an executive order issued by President Donald Trump back in March. The agency stated that moving to electronic payments is […]
Holds up from the IRS slow down electric vehicle sales as tax credit deadline approaches, say car dealers.
IRS Delays Impact EV Sales Amid Upcoming Tax Credit Expiration On April 30, 2025, reports have surfaced that the Internal Revenue Service (IRS) has been slow to approve and disburse federal tax credits for electric vehicles (EVs), which is causing significant issues for car dealers and affecting EV sales just as these credits are about […]
IRS informs court that Arizonans do not have the right to a tax refund on family rebate
The IRS informed the appeals judge that 750,000 residents of Arizona shouldn’t receive a $20 million class refund related to federal income taxes for state tax refunds in 2023. In a recent filing with the 9th Circuit Court of Appeals, attorney Anthony Sheehan from the Justice Department argued that Arizona’s payment method is indeed taxable. […]
IRS alters the process for receiving your tax refund
The IRS has announced a significant shift in how tax refunds will be distributed. Starting September 30th, it will stop issuing paper checks in line with a new federal requirement aimed at transitioning to electronic payments. The overall tax filing process will remain unchanged, but refunds will now be sent via direct deposits or other […]
IRS changes its process for managing tax returns: Key information to understand
Changes to IRS Tax Refund Process For quite some time, the IRS has offered taxpayers the choice between receiving their refunds through paper checks or direct deposits. However, this practice is about to change. Starting September 30, the IRS and the U.S. Treasury Department will begin phasing out paper refund checks. “This is the first […]
The IRS is discontinuing paper tax refund checks. Here’s how it may impact you.
The IRS Has Eliminated Paper Refund Checks The IRS announced today that paper tax refund checks will no longer be issued for individual taxpayers, starting this month. Instead, if you previously received your tax refund via a paper check, you will now receive it electronically. This shift will also affect payments to the IRS. You’re […]
What are the expected IRS tax brackets for 2026? New estimates indicate rises in thresholds.
(Nexstar) – Last week, Americans experienced a slight financial relief as the Federal Reserve decided to cut interest rates for the first time this year. This move hints that more rate cuts might be on the way in the near future. Typically, in the fall, the IRS announces updates that will affect how taxes are […]
New IRS Retirement Regulations May Impact Homeowners’ Savings Due to SECURE 2.0 Act
Understanding financial situations has always been, well, crucial for retirees, especially those who own homes. With new regulations like the Hidden Stock Tax and the New Senior Deduction, there’s a lot to keep track of. For those nearing retirement in the next few years, these adjustments could significantly impact how they save. Future retirees, particularly […]
Treasury and IRS provide important information on Trump’s ‘no tax on tips’ deduction
Proposed Tax Deduction for Tips Announced On Friday, the U.S. Treasury Department, along with the IRS, released proposed regulations regarding President Trump’s “no tax on tips” deduction. This initiative emerged from Trump’s earlier legislation known as the “Big Beautiful Building.” Starting in 2025, certain employees will be able to deduct “qualifying tips” of up to […]