IRS Notice CP53E Is Creating Confusion Nationwide Millions of taxpayers are receiving a new IRS notice labeled CP53E, and the response from both taxpayers and practitioners has been immediate confusion. Some recipients are expecting refunds. Others owe taxes. And many are wondering the same thing: “Is this even real?” The short answer: Yes — the notice itself is legitimate. However, scammers are already exploiting the confusion with fake versions of the notice designed to ste

The standard deduction continues to play a major role in reducing taxable income for millions of taxpayers each year. For tax year 2026 , updated standard deduction amounts will apply, reflecting legislative changes and inflation adjustments that can significantly impact individual tax outcomes. Understanding how these changes work—and whether the standard deduction or itemizing makes the most sense for your situation—is an important part of effective tax planning. Below is a

1099 Contractors: What Businesses Need to Know Before the January 31 Deadline If your business works with independent contractors, January is a critical compliance month. Businesses that paid non-employee contractors during the year are generally required to file Form 1099-NEC, and the deadline to file and furnish these forms is January 31. Missing this deadline can result in penalties and unnecessary IRS scrutiny, making preparation essential. This guide explains who must fi

The 2026 tax filing season officially begins on Monday, January 26, 2026 — less than a week away . With the start of tax season quickly approaching, now is the time for taxpayers to take the next steps to ensure a smooth and accurate filing process. Early preparation can help reduce delays, avoid common errors, and ensure faster processing of tax returns, payments, and refunds once filing begins. Gather and Organize Tax Records Early Maintaining organized tax records is one