File Now—Penalty for Not Filing Beats Penalty for Not Paying
Missed Tax Day? File anyway. Failure-to-file penalties > failure-to-pay penalties. Even if you can’t pay yet, filing today can save you money.
Tax Pros Spreading Misinformation Discourages Needed Extensions
Misinformation is one of the biggest drivers in the pushback against extensions. And sometimes? It's perpetuated by tax pros. I have several taxpayers who need an extension bc of their situation (think FBAR, estates, etc.). Other tax pros are trying to scare...
IRS Updates Schedule D Line 21 Instructions (2018‑2024)
From IRS: Correction to the 2018 through 2024 Instructions for Schedule D (Form 1040), Line 21 (Yes, really, 2018 to 2024.) H/T: F. Bronstein https://t.co/7hLAdjavnf
IRS Clarifies $25K Tip Deduction, Adds Santa Impersonators
The IRS finalized “no tax on tips” regs—and clarified who qualifies. Yes, up to $25K in tips can be deducted. But only for certain occupations (now defined), and only for voluntary, reported tips. Santa Claus impersonators made the list. Did your job? 👀 https://t.co/q1z55eZskn
IRS CI Chief Retires as Agents Return to Tax Enforcement
@IRS_CI Chief Guy Ficco is stepping down after 30+ years. But the bigger story: at one point, ~1,700 CI employees were reassigned away from tax enforcement. Now, agents are being pulled back to financial crime work. More: https://t.co/v4CZbQhHtf
Extend Your 2025 Tax Deadline, Pay Owed Now
Not ready to file your 2025 tax return? Here’s how to buy yourself six more months, and why you still need to pay what you owe now. https://t.co/SdcqhDVk3f
Avoid Common Tax Mistakes: Verify SSN, Status, Credits
Before you file: Double-check your SSNs Use the right filing status Don’t guess on credits And yes… sign (or e-sign) your return 😅 11 common tax mistakes (and how to avoid them): https://t.co/C5YSDcUi2P
IRS Expands Business Tax Account to More Entities
The IRS just expanded its Business Tax Account 👀 Access is now available to partnerships , tax-exempts , and gov’t entities. The goal is less paper, fewer calls. (I'm a big fan.) Details: https://t.co/TEyOyvkOwg
New Tax Laws Spark Scams: IRS Issues Warning
New tax laws often bring new opportunities—but also new scams. The IRS is warning taxpayers about schemes tied to recent tax changes. If it sounds too good to be true, it probably is. Here’s what to watch for: https://t.co/lu0sdLMc4V
Gig Work Is Flexible, Taxes Are Complicated
Gig work is flexible. Gig taxes? Not so much. No 1099 doesn’t mean no reporting—and some new deductions sound great… until you realize there are rules attached. It’s one of those “simple until it’s not” situations. Here’s what to know: https://t.co/BXKJJZUpEQ
SC Extends Filing Deadline, Payment Still Due April 15
South Carolina just extended its tax filing deadline to Oct. 15 👀 But: It’s only to FILE → You still need to PAY by April 15. Here’s the reason for the change (and what other states are doing): https://t.co/dubwEp4ERL
Delete Scam Emails; Verify Through Official Sites Only
Another day, another scam 🚨 SSA won’t email you a benefits PDF IRS won’t send account info as an attachment If you get one → delete it. Need info? Go straight to the official site and log in. https://t.co/ambNOfA6NZ
Fifth Circuit Bars FTC From Using Its In‑house Court, Shifting Cases Federal
The Fifth Circuit made a call in the Intuit vs. FTC case (centered on whether the "free" ads were misleading). The finding? The FTC can’t use its own in-house court for the claim, which could mean more such cases end...
Fear and Shame Hinder Tax Compliance; Shaming Worsens It
If you wonder why some folks don't get compliant with their taxes sooner, it's often a mix of fear and/or shame. You know what doesn't make it better? Scaring and shaming them more. 😒
50 Little-Known Tax Breaks to Keep More Money
I know that it feels like *everything* is taxable this time of year, but it’s not. From everyday perks to little-known exemptions, here are 50 ways that the U.S. tax code lets you keep more of your money. https://t.co/0IHTxG0pVv
