IRS Updates Health FSA Limits for 2027
Important Changes Employers Need to Know The Internal Revenue Service (IRS) has announced updated contribution limits for Health Flexible Spending Accounts (FSAs) for the 2027 plan year. According to IRS News Release IR-2026-133, employees will be able to contribute up to $3,500 in pre-tax dollars to their health FSAs beginning January 1, 2027. This represents a $100 increase from the 2026 limit of $3,400. What Is Changing? Health FSA contribution limits are adjusted annually
IRS Announces Temporary Federal Excise Tax Relief for Dyed Diesel Fuel Used on Highways
The Internal Revenue Service has announced temporary federal excise tax relief related to the use of dyed diesel fuel on U.S. highways. The announcement was issued October 14, 2026, in response to the President’s October 5 Executive Order concerning emergency tax relief on diesel fuel. The relief is retroactive to October 1, 2026, and remains in effect through December 31, 2026. It applies nationwide to people who sell dyed diesel fuel for highway use as well as those who use
New IRS Mobile App Simplifies Access to Taxpayer Services
The new IRS Mobile App Simplifies Access to Taxpayer Services The Internal Revenue Service (IRS) has introduced a new mobile app designed to make it easier for taxpayers to access important tax information and services directly from their smartphones and tablets. The new IRS app replaces the former IRS2Go application and provides expanded self-service capabilities while maintaining secure access to taxpayer accounts. A More Convenient Way to Manage Tax Matters As technology c
IRS announces extension of tax relief for farmers and ranchers affected by drought in 49 states, other regions
WASHINGTON − The Internal Revenue Service today issued guidance that provides an extension of tax relief for farmers and ranchers in most states and other regions who sold or exchanged livestock because of drought conditions. Under the guidance, those affected may take more time to replace their livestock and defer tax on any gains from the forced sales or exchanges. “Large swaths of the United States continue to experience drought conditions, distressing hard-working America
Am I required to file a Form 1099 or other information return?
If, as part of your trade or business, you made any of the following types of payments, use the link to be directed to information on filing the appropriate information return. A payment exceeding the amount of the reporting threshold for the following during the year (Form 1099-NEC): Services performed by someone who is not your employee (including parts and materials) Cash payments for fish (or other aquatic life) you purchase from anyone engaged in the trade or business of