Tax Inflation Adjustments for 2025
The IRS announced the annual inflation adjustments for tax year 2025. Generally, the tax adjustments apply to income tax returns to be filed in tax season 2026.
Category: IRS Updates
New and Previously Owned Clean Vehicle Credits
On April 16, 2024, the IRS revised frequently asked questions for the new and previously owned clean vehicle credits.
Proposed Regulations Reporting Digital Assets
As evidenced by recently issued proposed regulations, the IRS is increasingly scrutinizing digital assets.
IRS Resuming Collections
The government gave taxpayers a break during the pandemic and paused sending collection notices. Collection notices are resuming in 2024.
Form 8300 Reporting Cash Payments Over $10,000
Beginning January 1, 2024, businesses receiving more than $10,000 in cash must report transactions to the U.S. government by e-filing Form 8300 instead of filing a paper return.