IRS | Franek Tax Services

IRS Provides Penalty Relief for Tax Year 2025 For Information Reporting – Tips and Overtime

Nov 12, 2025 | IRS, tax season

The article on the IRS’s website can be a bit confusing in regards to the DoT and the IRS issued guidance providing penalty relief to employers and other payors for tax year 2025 regarding new information reporting requirements for cash tips and qualified...

IRS Starts Post Appeals Mediation Pilot Program

Oct 13, 2025 | IRS

Via The Independent Office of Appeals The IRS Independent Office of Appeals is launching a two-year pilot program to make Post Appeals Mediation (PAM) more attractive to taxpayers. “Appeals is committed to offering Alternative Dispute Resolution programs as a...

False Tax Credit Claims Tied to Social Media

Sep 11, 2025 | IRS, Tax Credit

IRA Assesses $162 Million in Penalties The IRS is warning taxpayers about an increasing wave of scam tax schemes spreading across social media, which encourage the improper use of credits like the Fuel Tax Credit and the Sick and Family Leave Credit. These frauds have...

Tax Pros Must Have a Written Information Security Plan to Protect Client Data

Aug 12, 2025 | IRS, security

IRS Security Summit Reminder The article, published by the IRS, highlights the importance of tax professionals maintaining a Written Information Security Plan (WISP) to safeguard client data from identity theft and breaches. This is part of the “Protect Your...

Did You Miss The IRS Tax Filing Deadline?

Jun 12, 2025 | IRS, tax penalties

The IRS offers resources for taxpayers who missed the April 2025 federal income tax filing deadline and owe taxes, interest, and penalties. If you’ve missed the IRS tax filing deadline, it’s important to act promptly to minimize any potential penalties and...

IRS Announces Stable Interest Rates for Third Quarter of 2025

May 13, 2025 | IRS

Washington — The Internal Revenue Service announced that interest rates for tax overpayments and underpayments will remain unchanged for the calendar quarter beginning July 1, 2025. For individual taxpayers, both the rate for overpayments (receiving a refund from the...