Freedom Tax Services

06/02/2026

You may think you'll pay less in taxes once you retire, but the reality is that the combination of taxable withdrawals and other important factors can easily hike your tax bill just as high as when you were working, says financial planner Gary Knode.

You may think you'll pay less in taxes once you retire, but taxable withdrawals and Social Security can keep your tax bill as high as it was during your career.

06/02/2026

A newly enacted tax law introduces a temporary deduction allowing car buyers to write off up to $10,000 in auto loan interest annually through 2028. This above-the-line tax break doesn't require itemizing, but strict income limits and U.S. vehicle assembly rules apply. So, in case you missed it, here's what you need to know about whether the vehicle you want or need to buy qualifies for a tax break.

Trump and the GOP are now offering a tax deduction for auto loan interest. How will it work?

06/02/2026

After years of uncertainty and confusion, the IRS has finally issued definitive guidance regarding mandatory annual distributions. Still, managing an inherited IRA can be a financial minefield, especially under the so-called "10-year rule." Here's how the final rules affect your inheritance, who qualifies for exemptions, and strategies to avoid a tax penalty

The IRS’ interpretation of the 10-year clean-out rule on inherited IRAs can be complicated.

06/02/2026

Selling your home? The IRS actually offers a massive silver lining: The Section 121 Exclusion. If you meet the eligibility criteria, this capital gains tax break can drastically reduce, or completely wipe out, the taxes on your profit. It's easily one of the most valuable financial tools available to homeowners.

The IRS capital gains home sales tax exclusion can be a valuable tool if you're eligible.

06/02/2026

An reminder for : A mid-year withholding review can help your clients avoid an unexpected tax bill or penalties when they file next year. Help them get started using the Tax Withholding Estimator: www.irs.gov/withholding

06/02/2026

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06/02/2026

Did you make a mistake when you originally filed your return? Take a look at an tax tip on how to fix it. You may need to file an amended return to correct your error. We explain the basics on filing an amended return including reasons to file one, how long you have to file it and how to file it.

Learn more about amended returns at https://ow.ly/fm0k50YTwph.

06/02/2026

We are one week out from Restaurant Day! Join us at any of these participating restaurants who will donate to the Fireworks Show!

06/02/2026

https://x.com/TaxFoundation/status/2061825607600673068?s=20

05/30/2026

After millions received confusing letters this past year, the IRS may revise its CP53E notices. The CP53E is the notice received by taxpayers when a refund cannot be processed by direct deposit. Here’s what the proposed changes are and what they mean for you.

Millions of taxpayers received confusing IRS refund letters this year. Could improvements be on the way?