IRS | Franek Tax Services

IRS Recovers Billions in Tax

Dec 13, 2024 | IRS

$4.7 Billion Recovered for U.S. Taxpayers, Help From Whistleblowers The IRS provided the regular quarterly update to the Strategic Operating Plan, outlining key milestones in criminal investigations, improvements to taxpayer services and advancements in digital...

New Tax Deductions that Could Impact Your Small Business in 2025

Nov 9, 2024 | IRS, tax season

An Introduction To This Tax Season’s Changes With each tax season, small business owners must stay updated on the latest tax laws and deduction changes. Now for 2024, several adjustments are due to inflation and shifts in federal tax policy. To clarify, updates...

IRS Help Available to Victims of Hurricanes Helene and Milton

Oct 14, 2024 | disaster relief, IRS

May 1 Deadline Now Applies to Individuals and Businesses WASHINGTON — In the wake of the devastating hurricanes that have ravaged Florida and the Southeast in recent weeks, the Internal Revenue Service reassured victims that it stands ready to provide the tax-related...

Am I Next? IRS Hauls in Millions From Rich Americans

Sep 30, 2024 | IRS

In recent weeks, news outlets have been buzzing with reports of the IRS targeting wealthy individuals, pulling in millions from unpaid taxes, fines, and interest. When the IRS hauls in Millions From rich Americans we don’t feel too sorry, but we might worry a...

IRS Regulations Requiring Broker Reporting of Digital Assets

Jul 9, 2024 | IRS

The U.S. DOT and the IRS issued final regulations requiring custodial brokers to report sales and exchanges of digital assets, including cryptocurrency. These reporting requirements will help taxpayers file accurate tax returns concerning digital asset transactions,...

Scams Targeting Seniors

Jun 12, 2024 | IRS, SSN Scam

IRS Warns Against Scams Targeting Seniors As part of continuing efforts to protect the senior community, the IRS issued a warning about the rising threat of impersonation scams. These scams target older adults by pretending to be government officials and aiming to...