Phishing is the practice of sending fraudulent communications disguised to appear to be from a reputable source. These attacks, usually through email but increasingly through text messages, are an attempt to try to steal personal and financial information. The IRS does not request personal or financial information from taxpayers by email. The same is true…

Federal investigators say a new wave of bank fraud is moving faster than most people can keep up, draining checking and savings accounts in a matter of minutes once criminals gain access. The core of the threat is simple but devastating: scammers trick victims into handing over control of their own online banking, then quietly…

WASHINGTON — As hurricane season peaks and wildfire risks remain high, the IRS urges individuals and businesses to create or update their emergency preparedness plans as part of National Preparedness Month. Disaster readiness starts with safeguarding critical documents, recording valuables and knowing how to access IRS support. Keeping updated records can speed up recovery and…

FS-2025-05, Aug. 21, 2025 This fact sheet provides answers to frequently asked questions (FAQs) related to § 45Z of the Internal Revenue Code. These FAQs are being issued to provide general information to taxpayers and tax professionals as expeditiously as possible. Accordingly, these FAQs may not address any particular taxpayer’s specific facts and circumstances, and…

WASHINGTON — In the fourth installment of a special summer series, the Security Summit partners today remind tax professionals and taxpayers about the IRS Identity Protection PIN and the IRS Online Accounts that can help protect against tax-related identity theft. The IRS and Security Summit also remind tax professionals that using multi-factor authentication is a best practice…

Below are descriptions of new provisions from the One Big Beautiful Bill Act, signed into law on July 4, 2025, as Public Law 119-21, that go into effect for 2025. “No Tax on Tips” New deduction: Effective for 2025 through 2028, employees and self-employed individuals may deduct qualified tips received in occupations that are listed…

For those who filed an extension for 2024 tax filing, the deadline is quickly approaching. October 15 is a Wednesday and is the last day to file with no additional penalties. Please note, I will not be available October 6 – October 11, so plan your schedule accordingly. I still can prepare your past taxes…

Have you ever found yourself rushing to the bank during lunch hour, only to wait in line for a simple transaction? Thanks to virtual banking, those days are becoming history. Whether you’re a busy professional, an entrepreneur, or someone who simply values convenience, virtual bank accounts are revolutionising how we manage money in the digital age.…

Here are some simple things taxpayers can do throughout the year to make next filing season less stressful. Organize tax records. Create a system that keeps all important information together. Taxpayers can use a software program for electronic recordkeeping or store paper documents in clearly labeled folders. They should add tax records to their files…

Summer is a time for fun but it’s never the wrong time to be thinking about taxes – and some summer activities could have an impact. Here are a few summertime activities and tips on how taxpayers should consider them for tax season. Marriage Wedding season is upon us, and newlyweds can make their tax…