Tax updates and news from the IRS | Internal Revenue Service
Taxpayers who received more than $5,000 in payments for goods and services through an online marketplace or payment app in 2024 should expect to receive a Form 1099-K PDF in January 2025. A copy of this form will also be sent to the IRS.
Prepare to file in 2025: Get Ready for tax season with key updates ...
Dec 19, 2024 · View key details from their most recent tax return, such as adjusted gross income. Request an Identity Protection PIN. Get account transcripts to include wage and income records. Sign tax forms like powers of attorney or tax information authorizations. View and edit language preferences and alternative media.
News releases for current month - Internal Revenue Service
Find previous year news releases and fact sheets from 1997 through last month. A listing of current news releases published by the IRS.
2024 tax season: When to file, 1099-K reporting other things to …
15 hours ago · The IRS is increasing its tax brackets by about 2.75% for both individual and married filers across various income levels in tax year 2025: 10%: Taxable income up to $11,925 12%: Taxable income ...
IRS changes tax rules for 2025: Full list of who's impacted and how
Oct 22, 2024 · The Internal Revenue Service (IRS) has released its full list of changing tax rules for 2025, and Americans are likely to see major updates to standard deductions and certain tax credits.
Taxpayers in 24 states will be able to file ... - Associated Press News
Oct 3, 2024 · The federal tax collector’s Direct File program, which allows taxpayers to calculate and submit their returns to the government directly without using commercial tax preparation software, will be open to more than 30 million people in 24 states in the 2025 filing season.
Tax brackets and more are changing in 2024, 2025: What to know
Dec 17, 2024 · While the IRS recently announced big updates for tax year 2025, including another adjustment to the tax brackets due to inflation, there are some changes to be aware of before you file your...
New tax forms: The IRS announces plans to simplify and redesign tax …
Jan 24, 2024 · With tax season set to kick off next week, the IRS is launching a new initiative to redesign and simplify common tax documents. The changes will eventually apply to around 170 million letters...
Upcoming tax law changes in 2025
Dec 30, 2024 · The federal estate-tax exclusion amount increases to $13.99 million from $13.61 million in 2024. What’s not changing? The personal exemptions remain at $0 for tax year 2025. The elimination of the personal exemption was part of the TCJA. The maximum child tax credit is $2,000 per qualifying child, with a refundable amount of $1,700.
Tax News - The Tax Adviser
Dec 19, 2024 · Beginning with the 2025 filing season, the IRS will accept Forms 1040, 1040-NR and 1040-SS even if a dependent has already been claimed on a previously filed return if the primary taxpayer on the second return includes a valid …