Editorial team of TFX
Articles
Trump proposes eliminating income taxes for Americans earning under $150,000
A bold pitch with sweeping implications for the US tax system President Donald Trump is floating a sweeping tax reform proposal that would eliminate income taxes for individuals earning less than $150,000 per year. While no formal policy has been released, recent comments by Commerce Secretary Howard Lutnick suggest this is ...
IRS extends tax deadlines for Kentucky and West Virginia disaster victims
Taxpayers in parts of Kentucky and West Virginia impacted by severe winter storms, flooding, landslides, and mudslides in February 2025 now have additional time to meet federal tax filing and payment obligations. The IRS has extended deadlines to November 3, 2025, for i...
IRS reminder: April 1 is the final day to begin required withdrawals from IRAs and 401(k)s
The IRS is reminding retirees that April 1, 2025, is the final day to begin taking required minimum distributions (RMDs) from their Traditional IRAs and 401(k) plans. Failing to start these withdrawals on time can result in steep penalties, so it’s important to understand the RMD ...
Over $1 billion in unclaimed tax refunds: Act before April 15, 2025
The IRS recently announced that taxpayers have a limited window to claim more than $1 billion in unclaimed tax refunds from 2021. The deadline to file and receive these refunds is April 15, 2025. If you haven't filed your 2021 tax return yet, this is your last chance to claim the money before it dis...
Webinar: Ask a CPA anything about US expat taxes
We recently hosted a live webinar to help US taxpayers – both expats and US-based – navigate new tax savings, credits, and compliance updates for the 2024 tax season. This session was designed to address the latest IRS updates, common tax pitfalls, and smart strategies to help attendees save money and stay c...
IRS releases 2025 'Dirty Dozen' tax scams: A comprehensive guide for taxpayers
The Internal Revenue Service (IRS) has issued its annual "Dirty Dozen" list for 2025, highlighting the most prevalent tax scams that pose significant threats to taxpayers, businesses, and tax...