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Innovative Tax Solutions of Central Florida Inc, 1678 E Silver Star Road, Clarcona, FL (2026)

10/09/2026

New IRS app gives taxpayers a new way to access services

Taxpayers now have a new way to securely access IRS tools and account services through their mobile devices. The new IRS app has replaced the former IRS2Go app. There are several features and self-service options available to help taxpayers access their tax information with ease.

Key app features for taxpayers
Taxpayers can securely sign in to the app to access available account information and self-service options, including:

Check refund and amended-return status
View available balance information
Make payments and review payment activity
View select notices and letters
Access available tax records and transcripts
Manage certain profile and communication preferences
Access an Identity Protection PIN (IP PIN)
How to get the official IRS app

The IRS app is free and available through the Apple App Store and Google Play.
Current IRS2Go users do not need to download a separate app.

Users with automatic updates enabled will receive the IRS app through the normal update process.

Taxpayers can also visit IRS App on IRS.gov for verified links and additional information.

The IRS app does not replace IRS.gov or IRS online accounts

The IRS app is an expansion of mobile access to selected IRS Individual Online Account services but doesn't replace IRS.gov or IRS online accounts. IRS.gov will continue to provide comprehensive tax information, guidance, forms, tools and services.

Beware of fake IRS apps or links
Taxpayers should use verified IRS links or the official IRS app listings and be cautious of look-alike apps, advertisements and unsolicited messages claiming to provide access to IRS accounts.

The IRS won't ask taxpayers to provide sensitive personal or financial information through an unsolicited text, email, or pop-up message. Taxpayers who are unsure whether a message or app is legitimate should avoid clicking unsolicited links and use verified resources to locate the official app.

If taxpayers suspect scams or other tax-related wrongdoing, they can submit a confidential tip through the online fraud reporting tool using a smartphone, tablet, or computer at https://www.irs.gov/help/report-fraud

10/07/2026

Can the IRS Take Your Retirement Accounts?

Few IRS fears hit harder than this one. For many taxpayers, retirement accounts represent years—or decades—of disciplined saving. So when IRS debt enters the picture, a common and deeply emotional question arises: Can the IRS take my 401(k) or IRA?

The short answer is yes. Understanding when retirement accounts are at risk (and when they’re not) can help you avoid panic, bad decisions, and costly mistakes.

Why Retirement Accounts Feel “Off Limits”

Most people assume retirement accounts are protected because:
• They’re intended for future income
• Other creditors often can’t touch them
• They may be governed by federal or employer plans

While those assumptions hold true for many private creditors, the Internal Revenue Service plays by different rules.

What Authority the IRS Actually Has

The IRS has the legal power to levy retirement accounts—but only after meeting strict requirements. These include:
• Providing proper notice
• Allowing appeal rights
• Demonstrating that other collection options are insufficient

Even then, retirement account levies are generally considered a last resort, not a first move.

In most cases, the IRS prefers easier collection methods like wage garnishments, bank levies, or payment plans.

The Biggest Mistake Taxpayers Make Out of Fear

Fear often drives people to drain retirement accounts themselves to “get ahead” of the IRS. This can be disastrous.

Early withdrawals may trigger:
• Income taxes
• Penalties
• Loss of long-term financial security
Worse, the IRS may still pursue additional collection afterward—leaving you with less protection and fewer options.

How Proper Strategy Protects Retirement Savings

A strategic approach focuses on:
• Stopping enforcement before it escalates
• Using payment plans or hardship status
• Structuring resolutions that preserve protected assets
• Communicating with the IRS before extreme measures are considered

At Innovative Tax Solutions, we help taxpayers understand real risk versus perceived risk—and take action before fear-driven decisions cause irreversible harm.

Final Thought: The IRS Can—but Usually Doesn’t

Yes, the IRS can take retirement accounts. But in practice, it’s uncommon and usually avoidable with early, informed action.

If you owe the IRS and are worried about your 401(k), IRA, or pension, guessing can be expensive. Innovative Tax Solutions can review your situation, explain your true exposure, and help you protect what you’ve worked so hard to build.

Contact Innovative Tax Solutions today for a confidential consultation—and replace fear with facts before the IRS makes the next move.

10/05/2026

Yes that $90 you received (or will receive is true)!

Eligible traditional Medicare Part B enrollees will receive a one-time $90 Medicare Improvement Fund payment starting on or around October 8, 2026, to offset October premium costs.

Who Qualifies
• Enrollees in traditional Medicare Part B
• U.S. residents living domestically

Who Does Not Qualify
• Medicare Advantage private plan members
• Individuals receiving Medicaid premium assistance
• High-income enrollees paying an IRMAA surcharge

Payment Schedule & Delivery
• October 8, 2026: Direct deposits arrive for most people
• Mid-October 2026: Follow-up letter or email sent from the administration
• Late October 2026: Paper checks mailed by the U.S. Treasury if no direct deposit is on file

Contact & Support
• Check eligibility via 1-800-MEDICARE (1-800-633-4227)
• Check payment status via the Social Security Administration at 1-800-772-1213

10/05/2026

TRUMP ACCOUNT IMPORTANT INFORMATION

What happens when your child turns 18?

Trump Accounts are designed to give children years to invest, learn, and build a financial foundation. But what happens when your child officially becomes an adult? At 18, the account will enter a new chapter. Your child gains control of their account and can decide whether to keep their money invested or begin using it for their future.

The account becomes theirs

Until adulthood, a parent or guardian manages the Trump Account on the child's behalf. Once a child reaches 18, they take responsibility for the account and begin making their own financial decisions.

That means the years leading up to 18 are not only an opportunity to build their investment. They are also a chance to teach your child about saving, investing, and thinking ahead so they are prepared to manage their money when the time comes.

Options for their money

Turning 18 does not mean your child has to withdraw their money. They can choose to leave it invested and give it more time to potentially grow.

They can also begin taking distributions from the account. After the account's growth period ends, it generally follows traditional IRA rules. Depending on how the money is used, taxes and an additional 10% early distribution tax may apply. Certain uses, including qualified higher education expenses and qualifying first home purchases, may be exceptions to that additional tax.

A new chapter begins at 18

Reaching adulthood marks an important transition for both the account and the child who owns it. Whether they continue investing or eventually use the funds toward an important milestone, like college or a first home, they can begin making their own financial decisions with years of investing already behind them.

10/01/2026

October is Breast Cancer Awareness Month. 💗

At Innovative Tax Solutions of CFL Inc., we proudly recognize and support Breast Cancer Awareness Month and the many women, men, families, caregivers, and survivors whose lives have been touched by breast cancer.

This month is an important reminder to stay informed, encourage early detection, support those currently fighting, celebrate survivors, and remember those we have lost.

To everyone facing breast cancer — and to the families and friends standing beside them — we are thinking of you and supporting you.

🎀 Together, we wear pink with purpose.

09/30/2026

IRS launches new mobile app, expanding digital services for taxpayers

IRS2Go becomes IRS app, adding secure mobile access to selected Individual Online Account services

WASHINGTON — The Internal Revenue Service today announced the launch of the new IRS mobile app, replacing IRS2Go and expanding the agency's digital services to give taxpayers more ways to securely access IRS tools and account services from their mobile devices.

"The new IRS app puts more services at taxpayers' fingertips," said IRS Chief Executive Officer Frank J. Bisignano. "It advances our digital-first agenda to meet taxpayers how and where they choose to interact with the IRS, whether at home or on the go. Our goal is to make IRS services easy to access and more consistent across all of our platforms."

For more than a decade, IRS2Go has helped taxpayers check refund status and find free filing resources. The new IRS app builds on that foundation by adding a broader set of secure, account-specific features. Taxpayers can now securely sign in to the official IRS app and access selected account information and self-service options, including:

Check refund and amended-return status
View available balance information
Make payments and review payment activity
View select notices and letters
Access available tax records and transcripts
Manage certain profile and communication preferences
Access an Identity Protection PIN (IP PIN)
This is just the beginning—the IRS will continue expanding the app with new capabilities and services over time.

The IRS app is free and available through the Apple App Store and Google Play. Current IRS2Go users do not need to download a separate app. Users with automatic updates enabled will receive the IRS app through the normal update process. Taxpayers can also visit IRS App on IRS.gov for verified links and additional information.

The IRS app expands secure mobile access to selected IRS Individual Online Account services. It does not replace IRS.gov or the IRS online accounts. IRS.gov continues to provide comprehensive tax information, guidance, forms, tools and services. IRS Individual Online Account, Business Tax Account and Tax Pro Account will continue to be available through IRS.gov, with the IRS app initially extending selected Individual Online Account features only. Telephone and in-person assistance also remain available for taxpayers who need individualized help or whose issues cannot be resolved through self-service.

Taxpayers should use verified IRS links or the official IRS app listings in the Apple App Store and Google Play and be cautious of look-alike apps, advertisements and unsolicited messages claiming to provide access to IRS accounts. The IRS will not ask taxpayers to provide sensitive personal or financial information through an unsolicited text, email, or pop-up message. Taxpayers who are unsure whether a message or app is legitimate should avoid clicking unsolicited links and use verified resources to locate the official app.

09/28/2026

Why Quarterly Estimated Taxes for Your Small Business are so Important!!

As a small-business owner, it is important to remember that federal taxes are generally paid throughout the year, not just when you file your tax return.

If your business income is not subject to regular withholding, you may need to make quarterly estimated tax payments to the IRS.

Planning ahead and making these payments on time can help you avoid unexpected tax bills, penalties, and cash-flow issues at tax time.

Who May Need to Make Estimated Tax Payments?

If you expect to owe at least $1,000 in federal tax on your personal tax return after accounting for withholding and refundable credits, you may need to make estimated tax payments.

This commonly applies to:
Sole proprietors
Single-member LLCs
Partners in partnerships
S corporation shareholders

Every business and tax situation is different, so we recommend reviewing your situation each year to determine whether estimated payments are necessary.

What Taxes Are Included?

Your quarterly estimated payments may cover both federal income tax and, depending on how your business is structured, self-employment tax.

For example, if you operate as a sole proprietor or an LLC taxed as a sole proprietorship or partnership, your business profit is generally subject to income tax and self-employment tax.

How Do We Calculate Estimated Payments?

There are a couple of common approaches to estimating your quarterly tax liability.

If your income is fairly consistent throughout the year, we can estimate your annual income and deductions, calculate your projected tax liability, and use that information to determine your quarterly payments.

If your income varies significantly throughout the year, your payments may be based more closely on your actual income and expenses as the year progresses. This approach can be helpful for businesses with seasonal or fluctuating income, but it requires good bookkeeping and regular financial information.

Estimated payments can also be adjusted during the year if your income or deductions change.

Plan Ahead for Your Tax Payments

One of the easiest ways to make quarterly taxes less stressful is to plan for them throughout the year.

We recommend keeping your bookkeeping up to date and reviewing your income and expenses regularly.

Setting aside money specifically for taxes can also help ensure that the funds are available when your payments are due.

The more current your financial information is, the easier it is for us to help you estimate your tax liability and make adjustments when necessary.

Did you know the IRS charges a penalty if you do not pay in a timely manner?

The estimated-tax penalty is calculated separately for each payment period, based on the amount underpaid and how long it remained underpaid.

For the third quarter of 2026, the IRS underpayment interest rate for individuals is 7% annually, compounded daily. The rate can change each quarter

When Should You Contact Our Office?

If you are unsure how much you should be paying in estimated taxes, have experienced a significant change in income, or are considering a change to your business structure, please reach out to our office.

Our goal is to help you stay ahead of your tax obligations, avoid unnecessary surprises, and plan for your tax liability throughout the year.

Quarterly tax planning is about more than avoiding penalties. It is about knowing what to expect and making sure your business has the cash flow to handle its tax obligations when they come due.

09/25/2026

Did you know? Direct Pay offers free, easy way to pay taxes

Direct Pay on IRS.gov offers a free, secure way to pay federal taxes directly from a checking or savings account. Clients can make one-time payments without signing in. They simply answer a few basic questions to verify their identity. For individual payments, Direct Pay uses information from a prior-year tax return selected by the client. For business payments, Direct Pay verifies the business name and employer identification number (EIN) against IRS records.

Individual clients can use Direct Pay for balance due payments, estimated tax payments, amended return payments, extension payments, and other federal income tax payments. Business clients can use Direct Pay to make balance due payments, federal tax deposits, and other federal tax payments.

09/23/2026

IRS warns of tax credit scams targeting the tribal community

Taxpayers and tribal communities should beware of fraudulent schemes
IR-2026-112, Sept. 18, 2026

WASHINGTON — The Internal Revenue Service today warned taxpayers, tribal communities, businesses and tax professionals about promoters selling fake "Tribal Tax Credits" that do not exist under federal law. Promoters are falsely claiming that these credits can reduce federal tax liabilities or generate refunds.

Promoters market these fake credits generically as "Tribal Tax Credits," "Native American Tax Credits," "Sovereign Tribal Tax Credits," or similar names. These federal tax credits do not exist, and taxpayers who claim them may face civil and criminal penalties.

"Protecting taxpayers and the integrity of the tax system remains central to the IRS mission," said IRS Chief Executive Officer Frank J. Bisignano. "For that reason, the IRS will always confront abusive and illegal tax schemes that, if left unchallenged, could undermine confidence in our tax system."

Promoters typically encourage taxpayers to purchase the purported credits from an entity they claim is associated with a tribal community. They may promise a significant return on investment by reducing an existing tax liability or generating a tax refund, and they may pressure taxpayers to act quickly.

Promoters may also urge taxpayers who previously claimed these fake credits to challenge the IRS during an audit. A federal tax return claiming a nonexistent Tribal Tax Credit contains a false claim, regardless of whether a refund was issued initially based on the fake Tribal Tax Credit.

Taxpayers are responsible for the accuracy of information reported on their tax returns. Participating in an abusive tax scheme can result in the assessment of the correct tax owed, penalties, interest, and, potentially, fines and imprisonment.

Financial advisors and tax professionals should be cautious if approached by promoters and avoid enabling these schemes.

How promoters misrepresent tax law
Promoters often use legitimate tax provisions or government programs to make fraudulent schemes appear credible. For example, they may:

Claim a government agreement exists. Promoters may cite a purported agreement between the Treasury Department, Department of the Interior, and/or certain tribal governments that allows conversion of tribal trust fund payments into federal tax credits. No such agreement exists.
Misrepresent transferable tax credits. Promoters may cite provisions allowing sale or transfer of certain credits among taxpayers. Federal law permits transfers only for specific clean energy credits and does not create a Tribal Tax Credit.
Misuse the New Markets Tax Credit. Promoters may reference Internal Revenue Code Section 45D and the New Markets Tax Credit. That program has no relationship to these fake Tribal Tax Credits.

Make false claims about tribal ownership. Promoters may claim that a company owned by tribal members can receive tax credits due to its sovereign status. No federal statute or agreement creates such a credit.

Misrepresent executive orders or federal law. Promoters may cite presidential executive orders and provisions of the Internal Revenue Code as authority for a Tribal Tax They do not create such a credit.

Point to previously accepted returns. Promoters may claim that the IRS's acceptance of a previously filed return proves the credit is valid. Acceptance of a return does not mean the IRS has approved a credit claimed on that return.
Promoters may charge a fee for arranging the purported purchase of the credit or creating supporting documentation. They may also provide purported legal opinions that they claim were prepared or endorsed by a reputable law firm or attorney.

Watch for red flags
Taxpayers, tribal communities, businesses, and tax professionals should be aware of warning signs of an abusive scheme, including:

Offers to purchase tax credits for substantially less than their value.
Claims that only a limited number of credits are available or that taxpayers must act quickly.
References to government or interagency agreements that are not publicly available.

Legal opinions that cannot be verified directly with the attorney or law firm identified.

Requests to sign a nondisclosure agreement before receiving basic information about the credit.

How to report tax schemes
Taxpayers and tribal communities can use Form 14242, Report Suspected Abusive Tax Promotions or Preparers, to report a suspected abusive tax avoidance scheme and tax return preparers who promote such schemes.

Taxpayers with information about tax fraud or other illegal tax-related activity can report it at IRS.gov/submitatip.

For more information about common tax schemes and scams, visit Tax Scams on IRS.gov.

09/21/2026

TRUMP ACCOUNTS ARE ENTERING THE WORKPLACE

When you think about workplace benefits, health insurance and retirement savings may come to mind. Now, employers have another way to support their teams and their families. Companies can contribute to Trump Accounts for their employees or their dependents, helping children begin building a financial foundation while giving employers a new way to invest in the families behind their workforce.

What does this mean for working families?

Employer contributions can give families another source of support for their child's Trump Account. Employers can contribute up to $2,500 per employee each year, giving money invested for a child more time to grow as they get older.

For families, that means building a child's financial future does not have to happen alone. Contributions can come from parents, family, friends, and now employers, creating more opportunities to add to a child's account over time.

Why are employers getting involved?

Companies are beginning to look at Trump Account contributions as a new type of workplace benefit. Just as employers may help workers prepare for retirement through a 401(k), Trump Account contributions give businesses an opportunity to support another important priority for employees: their children's futures.

Companies including Bank of America, JPMorganChase, INtel, SoFi, BlackRock, and others have already announced plans to support Trump Accounts for employees' children.

Could your employer participate?
Yes. Businesses can choose how they structure Trump Account contributions based on what works for their workforce. Invest America is also encouraging businesses to join the Business Pledge and explore ways to support employees' children and families in the communities they serve.

Whether it is a parent making a contribution at home or an employer adding Trump Accounts to its benefits package, every contribution creates another opportunity to invest in a child's future.

Innovative Tax Solutions of Central Florida Inc

10/09/2026

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