This article was published by the IRS. The Taxpayer Advocate Service is an independent organization within the Internal Revenue Service. TAS protects taxpayers' rights by striving to ensure that all taxpayers are treated fairly and know and understand their rights under the Taxpayer Bill of Rights. Here's what all taxpayers should know about their rights and [...]
This article was published by the IRS. During open enrollment season for Flexible Spending Arrangements (FSAs), the Internal Revenue Service reminds taxpayers that they may be eligible to use tax-free dollars to pay medical expenses not covered by other health plans through their FSA. For 2024, there is a $150 increase to the contribution limit for [...]
This article was published by the IRS. As the old saying goes: When something sounds too good to be true, it probably is. Taxpayers with outstanding tax bills might be tempted by businesses who advertise and offer to help them reduce their tax debt. These businesses, often called Offer in Compromise mills, make huge claims about [...]
This article was published by the IRS. Following feedback from taxpayers, tax professionals, and payment processors and to reduce taxpayer confusion, the Internal Revenue Service has released Notice 2023-74 announcing a delay of the new $600 Form 1099-K reporting threshold for third party settlement organizations for calendar year 2023. As the IRS continues to work to [...]
This article was published by the IRS. As the new school year begins, the Internal Revenue Service reminds teachers and other educators that they'll be able to deduct up to $300 of out-of-pocket classroom expenses for 2023 when they file their federal income tax return next year. This is the same limit that applied in 2022, [...]
