Editorial team of TFX
Articles
IRS offers tax relief for Maine and Rhode Island taxpayers affected by severe storms and flooding
The IRS has announced tax relief for taxpayers in Maine and Rhode Island who were affected by severe storms and flooding. The relief includes extending various tax deadlines to July 15, 2024. Also read – ...
IRS reminds taxpayers of options and deadlines for filing taxes
Electronic filing and direct deposit With the April 15 tax deadline approaching, the IRS encourages taxpayers to file their federal income tax return electronically and request direct deposit. This method reduces errors and prompts taxpayers for missing information. Most people qualify for electronic filing at no c...
IRS announces tax relief for Hawaii wildfire victims: deadlines extended to Aug. 7
In the wake of the devastating wildfires that recently swept through Maui and Hawaii counties, the Internal Revenue Service has stepped forward with a series of tax relief measures designed to alleviate the financial burdens on affected taxpayers. For US expatriates with ...
Tax relief for Alaska storm victims
The IRS has announced significant tax relief for individuals and businesses in the Wrangell Cooperative Association of Alaska Tribal Nation impacted by devastating storms, landslides, and mudslides since November 20, 2023. This initiative aims to alleviate the financ...
Biden's tax reform: A closer look at proposed capital gains changes
In an ambitious move to reshape the US tax landscape, President Joe Biden has unveiled a series of proposed tax reforms targeting the nation's wealthiest individuals. Central to his plan is a significant overhaul of the capital gains tax system, aiming to bridge the income inequality gap and secure funding for critical social progra...
Essential tax reporting guidelines for digital assets, gig economy earnings, and foreign income
The IRS has issued a reminder for taxpayers regarding the necessity to report all forms of earned income on their tax returns. This includes income from digital asset transactions, gig economy and service industry work, as well as income and assets from foreign sources. These guidelines are crucial for taxpayers to ensure they...