Taxpayer and accountant reviewing an IRS penalty notice and possible automatic penalty relief

IRS Introduces Automatic Penalty Relief for Eligible Taxpayers

The IRS has introduced automatic penalty relief for eligible taxpayers with a strong compliance history. Learn what may qualify and what the change means.

Mileage logbook, car key and calculator representing the 2026 standard mileage rates

IRS Increases Standard Mileage Rates Beginning July 1, 2026

The IRS increased the 2026 standard mileage rates for eligible business, medical and moving mileage beginning July 1, 2026.

Taxpayer reviewing an amount due notice when unable to pay taxes in full

Can’t Pay Your Taxes in Full? You Should Still File on Time

Cannot pay taxes in full? Filing your return on time can help limit additional penalties and preserve your options for handling the balance.

IRS letter or notice delivered through a wooden front door mail slot

Received an IRS Letter or Notice? Don’t Ignore It

Received an IRS letter or notice? Learn what it may mean, why you should act promptly, and when to ask a tax professional for help.

Understanding the Trump Accounts Contribution Pilot Program: What Parents Need to Know

The Trump Accounts contribution pilot program may provide eligible newborns with a one-time $1,000 Treasury deposit. Learn who qualifies and what parents should know.

Business driver recording miles in a logbook for the 2026 standard mileage rate.

2026 Standard Mileage Rate: Business Mileage Increases to 72.5 Cents Per Mile

The 2026 standard mileage rate is 72.5 cents per mile for business use. Here’s what changed, who it affects, and how Torkelson & Associates can help.

Hands reviewing tax forms and paperwork to prepare to file in 2026.

Prepare to File in 2026: Key IRS Updates to Know Before Tax Season

Prepare to file in 2026 with key IRS updates on refunds, online accounts, new credits, 1099-K rules, and digital assets. We can help.

Person using a calculator and laptop to plan retirement contributions under the 401(k) limit increases to $24,500 for 2026.

401(k) Limit Increases To $24,500 For 2026: What It Means For Your Retirement Savings

The 401(k) limit increases to $24,500 for 2026 and IRA limits rise too. Learn what the new retirement contribution limits mean for your savings strategy.

Woman reviewing tax forms and payroll information on a laptop, representing IRS penalty relief for tip and overtime reporting in 2025.

Penalty Relief For 2025 Tip And Overtime Reporting: What Employers Need To Know

The IRS is offering 2025 penalty relief for tip and overtime reporting. Learn what this transition year means for employers and when to talk to a CPA.

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