Upcoming IRS improvements for small business owners FS-2023-13, May 2023 — As part of National Small Business Week, April 30 to May 6, the IRS wants small business taxpayers to know they will soon see changes to help them better interact with the IRS in ways that work best for them. New improvements to phone service, in-person and online options will allow small business taxpayers get the help they need when they need it. IRS offers several payment options, including help for those struggling to pay FS-2023-12, April 2023 — Taxpayers have a variety of options to consider when paying federal taxes. Electronic payment options are the best way to make a tax payment. IRS issues frequently asked questions about compensation payment made by states for forced sterilization FS-2023-11, April 2023 — This fact sheet is about frequently asked questions that address the federal income tax consequences of compensation payments for forced sterilization. Deductions for individuals: What they mean and the difference between standard and itemized deductions FS-2023-10, April 2023 — A deduction reduces the amount of a taxpayer’s income that’s subject to tax, generally reducing the amount of tax the individual may have to pay. Most taxpayers now qualify for the standard deduction, but there are some important details involving itemized deductions that people should keep in mind. Tax credits for individuals: What they mean and how they can help refunds FS-2023-09, April 2023 — A tax credit is a dollar-for-dollar amount taxpayers claim on their tax return to reduce the income tax they owe. Eligible taxpayers can use them to reduce their tax bill and potentially increase their refund. IRS updates frequently asked questions related to new, previously owned and qualified commercial clean vehicle credits PDF FS-2023-08, March 2023 — This Fact Sheet updates frequently asked questions related to new, previously owned, and qualified commercial clean vehicles. Actions to take if a Form 1099-K is received in error or with incorrect information FS-2023-07, March 2023 — With this year’s April 18 tax deadline just around the corner, the Internal Revenue Service is offering these tips to taxpayers who received an incorrect Form 1099-K or received one of these forms in error. The IRS also explains how to report these transactions on their tax return. Updates to frequently asked questions about Form 1099-K PDF FS-2023-06, March 2022 — This Fact Sheet updates frequently asked questions about Form 1099-K. IRS expands secure digital correspondence for taxpayers FS-2023-05, February 2023 — The Internal Revenue Service is applying technology to provide a more efficient way for taxpayers or their tax professional to submit requested documentation online instead of mailing it to the IRS. IRS updates frequently asked questions related to new, previously owned and qualified commercial clean vehicle credits PDF FS-2023-04, February 2023 — This Fact Sheet updates frequently asked questions related to new, previously-owned and qualified commercial clean vehicle. IRS reminder: Important backup withholding deadlines FS-2023-03, January 2023 — Some businesses and other payers withhold money from payments they made to certain people to satisfy backup withholding. These entities should remember their upcoming filing deadlines. Who needs to file a tax return FS-2023-02, January 2023 — Taxpayers need to know their tax responsibilities, including if they’re required to file a tax return. Generally, most U.S. citizens and permanent residents who work in the United States need to file a tax return if they make more than a certain amount for the year. How to get tax withholding right FS-2023-01, January 2023 — The federal income tax is a pay-as-you-go tax. Taxpayers pay the tax as they earn or receive income during the year. Taxpayers can avoid a surprise at tax time by periodically checking their withholding amount. The IRS urges employees and those who receive a pension or annuity to check their withholding every year. Here’s what to know about withholding and why checking it is important. News Release and Fact Sheet Archive Find previous year news releases and fact sheets from 1997 through last month.