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

A new pilot program under the Working Families Tax Cuts could mean a one-time $1,000 Treasury deposit for your newly born child. Discover who is eligible, how the program works, and what parents need to know to secure these funds for their child’s future.
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.
Small business owner reviewing Form 1099-K and online payment app reports under the $20,000 Form 1099-K threshold.

Form 1099-K Threshold Back to $20,000: What You Need to Know

The Form 1099-K threshold is back to $20,000 and 200 transactions. See what this means for your online payments and when to call a tax professional.
Featured image for IRS mailing address change: hands placing a document into a kraft envelope on a wooden desk.

IRS mailing address change for Form 1040-V and 1040-ES: where to mail checks in 2025

The IRS mailing address change affects Form 1040-V and 1040-ES. See the new Louisville and Charlotte PO Boxes and when to use each. If you are unsure, we can help.
Featured image for One Big Beautiful Bill Act deductions: two people reviewing a pay stub with a calculator at a kitchen table.

One Big Beautiful Bill Act deductions: what working Americans and seniors can claim in 2025

Learn which One Big Beautiful Bill Act deductions may lower your 2025 taxes, including tips, overtime, car-loan interest, and a new senior deduction. We can help.
Featured image for how to know it’s the IRS: white envelope sealed with red wax and a brass stamp on a wooden desk.

How to know it’s the IRS: Simple ways to verify real IRS contact

Wondering how to know it’s the IRS? Learn how real IRS contact works, what scammers do, and how to report suspicious messages. If you’re unsure, we can help.
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