Beavers Tax & Accounting

05/04/2026

National Small Business Week 2026: Avoid the scam

It’s National Small Business Week, and the IRS is sharing resources and highlighting key topics each day throughout the week. One of those topics is scams. Back in March, the annual Dirty Dozen list of common tax scams was announced. These scams and schemes target taxpayers, businesses of all sizes and tax professionals. Let’s look at a couple that could affect businesses and entrepreneurs as well as tax professionals supporting small businesses.

Spear-phishing and malware campaigns targeting businesses and tax professionals
Tax pros and businesses can be targets of “new client” or “document request” emails that deliver malicious links or attachments to steal client data or access systems.

Businesses, tax pros, and individuals should always be cautious of any suspicious requests or unusual behavior before sharing any sensitive information or responding to an email.
Warning signs may include unexpected requests for sensitive information, mismatched or unfamiliar sender addresses, urgent payment demands, or links directing users to websites that do not clearly originate from IRS.gov.
Be aware that by gaining access to a hacked email account, scammers can locate a genuine email from a previous victim's email account sent to their tax professional.
Bogus “Self-Employment Tax Credit”

Scammers are promoting a broad “self-employment tax credit” which can lead to inaccurate filings.
Many taxpayers do not qualify for these credits. Taxpayers should rely on trusted sources like Publication 334, Tax Guide for Small Business (For Individuals Who Use Schedule C) and qualified tax professionals, not social media promotions, when determining eligibility for credits.
Additional tips to avoid the scam

Businesses can take proactive steps to safeguard their business and employees by using anti-malware/anti-virus software with automatic updates and requiring strong passwords with multi-factor authentication. Only enter personal data on secure websites (https) to prevent unauthorized access. See Publication 5961, Protect your business from tax scams PDF, for more information.
Protect the Employer Identification Number. Keep it secure and up to date. Use Form 8822-B, Change of Address or Responsible Party — Business, to make any necessary EIN updates promptly, ensuring its integrity and minimizing the risk of identity theft or fraudulent activity

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IRS Tax Tip 2026-37: National Small Business Week: Avoid the scam Internal Revenue Service (IRS) sent this bulletin at 05/04/2026 11:21 AM EDT IRS Tax Tips May 4, 2026 Issue Number: Tax Tip 2026-37 National Small Business Week 2026: Avoid the scam National Small Business WeekDirty Dozen Spear-phishi...

04/22/2026

Tax return filed: Here are ways to check the status of a tax refund

Taxpayers who filed their federal tax returns and are owed a refund may be wondering about the status. There are several options for people to check.

A new feature in Individual Online Account lets taxpayers opt in to receive email notifications when there’s an update to their refund status. Taxpayers still have the option to check their refund status without signing in with Where’s my Refund?

Other ways to check refund status

IRS mobile app
Automated hotline- refunds: 800-829-1954 or amended returns 866-464-2050
Refund statuses are available as soon 24 hours after the current filing year tax return is e-filed. The IRS issues most refunds in less than 21 days.

In some cases, a refund could be delayed. A few reasons for this are:

Making a common mistake. These include forgetting to sign the return or making a math error.
Claiming the Additional Child Tax Credit. This credit can be complicated and requires more time to review.
Failing to include bank account information for direct deposit.
Filing an amended return. The IRS must compare the two returns as well as review both.
Requesting injured spouse relief which requires the IRS to manually process the case.

IRS Tax Tip 2026-33: Tax return filed: Here are ways to check the status of a tax refund Internal Revenue Service (IRS) sent this bulletin at 04/21/2026 10:22 AM EDT IRS Tax Tips April 21, 2026 Issue Number: IRS Tax Tip 2026-33 owed a refund Individual Online AccountWhere’s my Refund Other ways to...

04/02/2026

There are three ways to get an extension until October 15 to file your tax return:
• Pay online and check the box
• Use Free File
• Request an extension by mail using Form 4868

See: www.irs.gov/extensions

04/01/2026

USERS BEWARE: Taxpayers should not rely on AI-generated responses to complex tax questions or tax return calculations. Learn more about warnings to ensure your tax security at: irs.gov/dirtydozen

03/22/2026

Time is running out to claim $1.2 billion in refunds for tax year 2022; taxpayers face April 15 deadline

IR-2026-37, March 20, 2026

WASHINGTON ― The Internal Revenue Service today announced that over 1.3 million people across the nation have unclaimed refunds for tax year 2022 and face an April 15 deadline to submit their tax returns.

The IRS estimates that approximately $1.2 billion in refunds remains unclaimed for taxpayers who have not filed their Form 1040 Federal income tax return for the 2022 tax year. The IRS estimates the median refund amount is $686 for 2022, which means that half of the refunds are more than $686. This estimate does not include credits that may be applicable.

Under the law, taxpayers usually have three years to file and claim their tax refunds. If they do not file within three years, the money becomes the property of the U.S. Treasury.

The table below shows the number of taxpayers potentially eligible for these refunds and the estimated median refund amount by state.

By not filing a tax return, taxpayers stand to lose more than just their refund of taxes withheld or paid during 2022. Many low- and moderate-income workers may be eligible for the Earned Income Tax Credit in 2022, the EITC was worth up to $6,935 for taxpayers with qualifying children. The EITC helps individuals and families whose incomes are below certain thresholds. The thresholds for 2022 were:

IR-2026-37: Time is running out to claim $1.2 billion in refunds for tax year 2022; taxpayers face April 15 deadline Internal Revenue Service (IRS) sent this bulletin at 03/20/2026 11:05 AM EDT IRS Newswire March 20, 2026 Issue Number: IR-2026-37 Inside This Issue Time is running out to claim $1.2 b...

03/12/2026

Tax credits and deductions for education

The costs for continuing education can add up quickly and get expensive. There are several tax benefits such as credits and deductions that can help eligible taxpayers reduce these costs. A tax credit reduces the amount a person owes in income taxes dollar-for-dollar. Let’s look at a few of the most common ones.

Education tax credits
There are two tax credits designed to help taxpayers reduce education costs: the American Opportunity Tax Credit and the Lifetime Learning Credit.

The taxpayer can claim one or the other but not both. Taxpayers must complete Form 8863, Education Credits and file it with their federal tax return.
To be eligible for either credit:

The taxpayer, dependent or a third party paid qualified education expenses for post high school education.
An eligible student must be enrolled at an eligible educational institution.
The eligible student is the taxpayer, taxpayer’s spouse or a dependent listed on the tax return.
Key points for AOTC and LLC
The AOTC is:

Worth a maximum benefit of up to $2,500 per eligible student
Available only for the first four years at an eligible college or vocational school
For students pursuing a degree or other recognized education credential
Partially refundable. People could get up to $1,000 back
The LLC is:

Worth a maximum benefit of up to $2,000 per tax return, per year
Available for all years of postsecondary education and for courses to acquire or improve job skills
Available for an unlimited number of tax years
Education related deductions
Deductions lower the taxable income resulting in lowering the federal income tax obligation.
Student loan interest:

Tax Tip 2026-21: Tax credits and deductions for education Internal Revenue Service (IRS) sent this bulletin at 03/12/2026 11:00 AM EDT IRS Tax Tips March 12, 2026 Useful Links: IRS.gov Help For Hurricane Victims News Essentials What's Hot News Releases IRS - The Basics IRS Guidance Media Contacts Fa...

03/10/2026

IRS Free File supports even more complex returns

There’s roughly one month remaining before the 2026 filing season concludes on April 15. For taxpayers who haven’t filed their federal income tax returns yet, they may be eligible to file for free. IRS Free File can support several different types of returns, from simple to complex ones that include credits, deductions or business expenses.

IRS Free File options

IRS Free File tax preparation software is available to taxpayers with an adjusted gross income of $89,000 or less in 2025. The guided software will help them prepare and e-file their federal tax returns at no cost. Some partners may also offer free state tax return preparation and filing. Taxpayers can choose from 8 trusted partners and decide which is best for them.
IRS Free File Fillable Forms is available to taxpayers with an AGI above $89,000 and feels comfortable preparing their own taxes. The forms are electronic versions of IRS paper forms. Instructions and publications are also available for use.

Tax Tip 2026-19: IRS Free File supports even more complex returns Internal Revenue Service (IRS) sent this bulletin at 03/10/2026 10:39 AM EDT IRS Tax Tips March 10, 2026 Useful Links: IRS.gov Help For Hurricane Victims News Essentials What's Hot News Releases IRS - The Basics IRS Guidance Media Con...

03/05/2026

Taxpayer Bill of Rights: Taxpayers have the right to pay no more than the correct amount of tax

It’s filing season, so it’s a good time for the IRS to remind taxpayers they have 10 rights which make up the Taxpayer Bill of Rights. One of which ensures taxpayers have the right to pay only the amount of tax legally due, including interest and penalties, and to have the IRS apply all tax payments properly.

The right to pay no more than the correct amount of tax means taxpayers can:

File for a refund if they believe they overpaid their taxes
Contact the IRS if they believe there is an error on a notice or bill
File an amended tax return if an error is discovered after the original return was filed
Sign into IRS Online Account and request that any amount owed be removed if it exceeds the correct amount due
Request that the IRS remove interest from the account if the agency caused unreasonable errors or delays
Submit an offer in compromise to ask the IRS to accept less than the full amount of tax debt. Taxpayers do this if they believe all or part of the debt is not owed.

Tax Tip 2026-18:Taxpayer Bill of Rights: Taxpayers have the right to pay no more than the correct amount of tax Internal Revenue Service (IRS) sent this bulletin at 03/05/2026 10:39 AM EST IRS Tax Tips March 5, 2026 Useful Links: IRS.gov Help For Hurricane Victims News Essentials What's Hot News Rel...

02/25/2026

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Military personnel and their families have filing options and resources

Members of the military have free filing options for their federal tax returns. The available programs offer online tax preparation, electronic filing and direct deposit of refunds at no cost.

MilTax
Eligible members of the military community can use MilTax, a free tax resource offered through Military OneSoure. This software was developed specifically to address the unique circumstances of military life that can affect taxes such as combat pay and dealing with multiple moves within the same tax year. Eligible taxpayers can use MilTax to complete and electronically file a federal tax return and up to five state returns for free. There are no income limits.

IRS Free File
Taxpayers, including active-duty military, with an adjusted gross income less than $89,000 in 2025 can use IRS Free File guided tax software to prepare and electronically file their 2025 federal income tax returns for free.

Tax Tip 2026-15: Military personnel and their families have filing options and resources Internal Revenue Service (IRS) sent this bulletin at 02/24/2026 10:35 AM EST IRS Tax Tips Feb. 24, 2026 Useful Links: IRS.gov Help For Hurricane Victims News Essentials What's Hot News Releases IRS - The Basics....

01/26/2026

No Tax on OT - This new deduction is a little confusing.

The Rule: You only get a tax break on the extra 50% premium you earn, not the whole check.

Example: If you make $20/hr base and $30/hr for overtime...

The first $20 is taxed like normal.

Only the extra $10 "bonus" for working OT is tax-free.

Basically, the government is only giving you a break on the "extra" money you earned by giving up your free time! 💸