14 cents per mile for charitable purposes If you track mileage for taxes, you need to use these rates when calculating deductions. And if you’re self-employed and don’t yet track business mileage, you could be missing out on valuable deductions! Learn more about why tracking mileage matters...
IRS Chief Tracking Cautious Route on AI Deployments As the IRS moves forward with deploying artificial intelligence (AI) capabilities into agency operations, IRS Commissioner Danny Werfel said this week that the pace of adoption will remain cautious in the interests of protecting taxpayer privacy.[…...
To an ordinary, law-abiding citizen, the lengthy process involved in declaring and paying taxes is a nuisance at its worst. However, those who attempt to circumvent or outright break the rules to avoid paying their dues to Uncle Sam are the ones who truly fear this organization. You see, ...
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Tracking your mileage More like this Small-Business Taxes Tax credits and deductions Tax preparation and filing Small Business Taxes If you drive for your business or plan to rack up some miles while volunteering this year, you might be eligible to deduct some of that mileage on your tax retur...
Before we dive into the details of tracking your refund status, it’s important to have a basic understanding of tax refunds. A tax refund is money that the government owes you if you paid more in taxes than you actually owed. This can happen if you had too much money withheld from you...
More like this Solving Tax Issues Taxes The main IRS phone number is 800-829-1040, but that’s not the only IRS number you can call for help or to talk to a live person. Below, we've compiled a list of other IRS phone numbers to try so you can reach the people you need. IRS...
Andrew Gordon, a CPA, and president of Gordon Law Group say that tracking down tax cheats is a very high priority for the IRS. He also said that the tax authority may match the taxpayers’ returns and the growing pile of collected data to make sure they owe anything to the IRS. ...
Require a certain payment method for your taxes, such as a prepaid debit card Ask for credit or debit card numbers over the phone Threaten to bring in local police or other law-enforcement to have you arrested for not paying Still tracking miles by hand? Use MileIQ to automatically keep a...
2025 contribution limit for 401(k) plans is $23,500, up from $23,000 in 2024. IRA contribution limit remains $7,000.