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Category: Tax News

Get up to date on all tax news from the IRS. The IRS is constantly updating us with law changes and new rules. Sometimes, it’s too much to keep up with. We’ll decipher the confusing lingo while you focus on staying current  on what’s really important.

If you have more questions about staying up to date with the IRS, leave a comment. Our tax team is ready to help!

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ira basis

Maximizing and Tracking Your IRA Basis

Roth IRA basis offer varying tax implications for IRA contributions, ranging from full tax deduction to partial or no tax deduction

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Wildfire Extended Tax Deadline

States with Extended Tax Deadline with Federal Tax Filing Extension on May 1, 2025?

severe flooding and landslides resulting from natural disasters, the IRS has taken the initiative on extended tax deadline

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IRS Direct File

Plans to Discontinue IRS DirectFile Tax Program

Trump administration plans to discontinue the IRS DirectFile Tax Program, which offers free tax filing services. 

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prior year W2

How Can You Get a Copy of Past Year W-2 Tax Forms?

Form W-2, Wage, and Tax Statement, is a crucial document that reports an employee’s annual wages and the amount of taxes withheld from their paychecks. It is essential for filing income tax returns. Over time, individuals may lose or misplace their past year W-2 tax forms prior years. Understanding how to obtain these past-year copies […]

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tax audits

Preventing Responding to IRS Tax Audit

Preventing a tax audit and knowing how to respond if you are selected for one are crucial aspects of responsible tax planning. While the Internal Revenue Service (IRS) uses sophisticated methods to select returns for audit, understanding common triggers and maintaining meticulous records can significantly reduce risk. Should an audit occur, a calm, organized, and […]

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tax tips for graduates

The Tipping Point: Everything about the “No Tax on Tips” Policy Proposal

potential tax on tips exemption represent a major shift in how the IRS treats tip income and reshape the economics of service nationwide

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1099-K

IRS Sets $2,500 threshold for 1099-K in 2025

New guidelines setting $5,000 reporting threshold for 2024 payments processed via third-party payment networks in Tax Form 1099-K in 2025

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IRS Direct File

Everything you Need to Know about Direct File in 2025

States Not Currently Supporting Tax Direct File in 2025 and states are participating in Direct File in 2025

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2023 past tax

Why Revisiting Your Past Taxes Returns Could Put Money in Your Pocket

At PriorTax, we’ve helped thousands of taxpayers discover overlooked tax deductions and tax credits from past taxes

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2025 tax season

2025 Tax Season: How and When You Can Tax File Your Tax Return in 2025

Looking forward to filing your taxes? It’s not a sentiment everyone shares, but if you’ve been anticipating it, tax season is fast approaching. Prepare yourself for the 2025 tax season by noting the important deadlines for submitting your federal tax return, whether by mail or electronically. The official start date for filing is set for […]

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