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Treasury, IRS provide penalty relief for tax year 2025 for information reporting on tips and overtime under the One, Big, Beautiful Bill
WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued guidance providing penalty relief to employers and other payors for tax year 2025 regarding new information reporting requirements for cash tips and qualified overtime compensation under the One, Big, Beautiful Bill. Transition penalty relief for tax year 2025 Notice 2025-62 PDF provides penalty relief from the new information reporting requirements for cash tips and qualified overtime
3 min read
Dirty Dozen tax scams for 2025: IRS warns taxpayers to watch out for dangerous threats
IR-2025-26, Feb. 27, 2025 WASHINGTON — The Internal Revenue Service today announced its annual Dirty Dozen list of tax scams for 2025...
8 min read
IRS provides updated frequently asked questions for the energy efficient home improvement and residential clean energy property credits
The Inflation Reduction Act of 2022 (IRA) amended the Energy Efficient Home Improvement Credit under section 25C of the Internal Revenue...
1 min read
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