latest irs news

Offer in Compromise
When a taxpayer can’t pay their full tax debt or if paying would cause financial hardship, they should consider applying for an offer in compromise. For assistance in filing for an Offer in Compromise (OIC), please email us as soon as possible. 

What Should You Do if You Receive Correspondence from the IRS or State Tax Agency

Do Not Wait. Contact us immediately so we can advise you on the correct course of action.  

 IRS sends notices and letters when it needs to ask a question about a taxpayer’s federal tax return, let them know about a change to their account, or request a payment. Don’t panic if mail comes from the IRS or your state tax agency. We can help guide you through the response needed.  

 

 

2025 Tax Updates

Standard Mileage Rates for 2025

• Beginning January 1, 2025, the standard mileage rate for automobiles driven for business increased by 3 cents to 70 cents per mile, while other rates remained at the 2024 level. 

Clean Vehicle and Energy Credits

• You may be eligible for tax credits if you’ve purchased a clean vehicle or made your home more energy efficient. See Credits and deductions under the Inflation Reduction Act.

Have You Checked Your Withholding for 2025? – It’s Not Too Late

• Proper tax withholding now is key to avoiding surprises when filing tax returns next year. The IRS Tax Withholding Estimator is a free online tool that helps workers, independent contractors, and retirees determine if they are having the right amount of federal income tax withheld from their paychecks.

IRS Online Account

• An IRS Online Account makes it easy for people to get the tax planning information they need quickly.
• The online account tool enables you to make payments, check the status of refunds, access account information, and more.