May 2025 Tax Pulse: IRS Updates & Planning Opportunities
Hello from Independent Tax Advisors! I'm Ryan Benson, EA, CFP®, with your monthly tax insights.
IRS Customer Service Continues to Decline
Staff departures and the administration's hiring freeze continue to impact service quality, highlighting the value of having an Enrolled Agent represent you.
Disaster Relief Deadlines Extended
Taxpayers in nine disaster-declared states have until May 1, 2025 to file 2024 returns. Contact us if this applies to you.
New Anti-Fraud Measures
The IRS has implemented stricter verification for Fuel Tax Credits and "Other Withholding" claims. Proper documentation is now essential.
Small Business Week Resources
The IRS is offering special tools for small businesses May 4-10. Let's translate these into practical strategies for your business.
2025 Standard Deduction Increases
Plan ahead for higher standard deductions next year: $15,000 (single), $30,000 (married filing jointly), and $22,500 (heads of household).
Tax planning is year-round! Contact us for personalized guidance.
Ryan Benson, EA, CFP®
Independent Tax Advisors LLC
Reston, VA
