07/20/2026
Form 1099-K – Did You Know?
If you receive a Form 1099-K, review it for payments that may not be taxable, such as reimbursements from friends or family. If these payments were mistakenly included, ask the payment processor to issue a corrected form. Keep in mind that some transactions involving personal items may still have tax consequences, particularly if you sold an item for more than you paid for it.
07/14/2026
Increased Standard Mileage Rates Starting July 1, 2026
Due to higher fuel prices, the IRS has increased the standard mileage rate for business driving to 76 cents per mile for mileage incurred on or after July 1, 2026. The rates for medical travel and eligible moving expenses have also increased to 23.5 cents per mile.
The charitable mileage rate remains unchanged at 14 cents per mile, while the previously announced 2026 rates continue to apply to mileage incurred before July 1.
07/06/2026
Employer-Provided Childcare Tax Credit – Did You Know?
Businesses that offer childcare benefits to employees may qualify for the Employer-Provided Childcare Tax Credit for some of the expenses involved. Eligible costs may include acquiring, constructing, or improving a childcare facility, operating an on-site childcare program, contracting with a qualified childcare provider, or paying for childcare resource and referral services.
Beginning in 2026, the credit generally equals 40% of qualified childcare expenditures (or 50% for eligible small businesses) plus 10% of qualified childcare resource and referral expenses. The maximum annual credit has also increased to $500,000, or $600,000 for eligible small businesses.
06/29/2026
Digital Asset Tax Reporting – Did You Know?
If you use a broker for digital asset transactions, such as selling, exchanging, or otherwise disposing of cryptocurrency or other digital assets, you may receive Form 1099-DA. Keep this form with your tax records, as you will need it to accurately report those transactions on your tax return.
06/22/2026
New IRS Portal for Reporting Fraud and Scams
The IRS has launched a new portal that makes it easier to report instances of tax fraud, identity theft, IRS impersonation and other tax-related scams. On the new webpage (link below), people and businesses can report:
- Fake IRS phone calls, emails, and text and social media messages. Scammers posing as government agents often threaten people with arrest unless they submit immediate payments, often in a specific format like gift cards. The IRS does not operate in this way.
- Suspected tax fraud, such as tax evasion schemes or illegal use of offshore accounts.
- Identity theft, which should always be reported to the IRS immediately, even if other government and law enforcement agencies know about the crime.
- Suspicious tax preparation practices, such as a paid tax preparer refusing to sign your return or altering your income figures.
Citizen reporting often plays a critical role in catching scammers and bringing them to justice. This new system makes the process of filing a report less confusing and much more convenient.
IRS Fraud Reporting Site: https://www.irs.gov/help/report-fraud
06/21/2026
The Taxpayers Help Center LITC is at the Juneteenth Family Fun Day at Canyon Country Community Center, Santa Clarita, CA.