WASHINGTON — The Internal Revenue Service today issued the 2023 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving…

WASHINGTON — The Internal Revenue Service announced today that the amount individuals can contribute to their 401(k) plans in 2023 has increased to $22,500, up from $20,500 for 2022. The…

When people get married their tax situation often changes. A taxpayer’s marital status as of December 31 determines their tax filing options for the entire year, but that’s not all…

IRS Tax Tip 2022-191, December 15, 2022 Whether they plan to stay up to greet the new year or go to bed early, taxpayers can get ready for 2023 by…

If you receive rental income from the rental of a dwelling unit, there are certain rental expenses you may deduct on your tax return. These expenses may include mortgage interest,…

You generally must include in your gross income all amounts you receive as rent. Rental income is any payment you receive for the use or occupation of property. You must…

WASHINGTON ― The Internal Revenue Service today reminded taxpayers who have a tax bill that there are several ways to make payments, and there are options for many people who…

WASHINGTON – Even though the Internal Revenue Service issues most refunds in less than 21 days for taxpayers who filed electronically and chose direct deposit, some refunds may take longer.…

WASHINGTON — A pesar de que el Servicio de Impuestos Internos emite la mayoría de los reembolsos en menos de 21 días para los contribuyentes que presentaron electrónicamente y eligieron…

Filing an error-free tax return is key to taxpayers getting any refund they are due as soon as possible. One IRS resource that can help is Online Account. This is the fastest…