Editorial team of TFX
Articles
IRS announces tax relief for taxpayers impacted by severe storms and tornadoes in Iowa
The Internal Revenue Service (IRS) has announced tax relief for individuals and businesses in Iowa affected by the severe storms and tornadoes that occurred on April 26, 2024. This relief extends the deadline for filing various federal tax returns and making tax payments ...
IRS issues warning on tax refund scams involving credits
The Internal Revenue Service (IRS) has recently issued a warning to taxpayers about potential scams involving inflated refund claims, particularly those related to the Fuel tax credit, ...
2025 Updates to HSA contribution limits: Maximizing tax savings
The Internal Revenue Service (IRS) has announced an increase in the contribution limits for Health Savings Accounts (HSAs) for 2025, a move that reflects adjustments for inflation and aims to aid individuals with high deductible health pla...
Unlock tax savings with home energy credits: IRS update for 2024
Understanding IRS home energy credits As we strive for more sustainable living, the IRS is offering incentives that could significantly reduce your tax bill. Making certain energy-efficient upgrades to your home not only contributes to a healthier planet but can also provide substantial financial benefits through tax credits...
IRS maintains interest rates for Q3 2024
The Internal Revenue Service (IRS) has confirmed that the interest rates for various types of tax-related activities will remain unchanged for the third quarter of 2024, starting July 1. This decision affects how much interest is calculated on both overpayments and underp...
Last call for 2020 tax refunds: IRS deadline is May 17
The IRS has issued a final call to about one million Americans who haven't filed their 2020 tax returns, reminding them of the opportunity to claim part of the over $1 billion in unclaimed tax refunds. This opportunity ends on May 17, after which unclaimed refunds will be forfeited to the US Treasury. Who is affected?...