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Here are reasons taxpayers should file a 2020 federal tax return – and why e-file is best

Most people with gross income of $12,400 or more must file a federal tax return. Some people with a lower income are not required to file. However, these individuals should still consider filing for a refund of federal income...

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  • March 4, 2021

IRS: Check tax withholdings now as the last quarter of 2020 begins

WASHINGTON — The Internal Revenue Service today reminded taxpayers that now is the perfect time to review their tax withholding and payments to avoid a surprise when filing next year. An adjustment or two made now may boost take...

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  • October 12, 2020

Payment Deadline Extended to July 15, 2020

The Treasury Department and the Internal Revenue Service are providing special payment relief to individuals and businesses in response to the COVID-19 Outbreak. The filing deadline for tax returns remains April 15, 2020. The IRS urges taxpayers who are...

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  • March 19, 2020

Relief for Reporting Required Minimum Distributions for IRAs for 2020

Under pre-amended law, by January 31st, the financial institutions would have had to notify IRA owners who turned 70½ in 2020 about the required minimum distribution (RMD) which would have needed to be made for 2020.  The SECURE Act...

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  • January 29, 2020

Mileage Rates

2020 Standard Mileage Rates The IRS today issued the 2020 optional standard mileage rates (PDF) used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2020, the standard...

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  • January 14, 2020

IRS issues standard mileage rates for 2020

WASHINGTON — The Internal Revenue Service today issued the 2020 optional standard mileage rates used to calculate the deductible costs of operating an automobile for business, charitable, medical or moving purposes. Beginning on Jan. 1, 2020, the standard mileage...

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  • January 6, 2020

IRS: Eligible employees can use tax-free dollars for medical expenses

WASHINGTON — With health care open season now under way at many workplaces, the Internal Revenue Service today reminded workers they may be eligible to use tax-free dollars to pay medical expenses not covered by other health plans. Eligible...

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  • November 19, 2019