Editorial team of TFX
Articles
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?...
IRS encourages early filing for tax-exempt organizations
The Internal Revenue Service (IRS) is urging tax-exempt organizations to submit their tax returns before the May 15 deadline, particularly those operating on a calendar year (CY) basis. This advance filing can ensure smoother processing and quicker confirmation from the IRS. Key filing information ...