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Aside from providing you with world-class business solutions such as tax preparation and bookkeeping, Tameka’s Bookkeeping and Tax Consulting Services, Co. is here to provide you with important information and resources. Got questions? Don’t hesitate to contact us at 888-506-2923, or email at info@tamekasbtc.com.
MAY 2026 | IRS Updates & Post-Tax Season Reminders
As we move into May 2026 following the April tax deadline, the IRS continues to issue important reminders for taxpayers who still need to file, pay outstanding balances, or ensure compliance. Whether you’re an individual filer or a business owner, staying on top of these updates can help you avoid penalties and stay financially organized.
Increased Focus on Self-Employed and Digital Income
The IRS maintains its focus on accurate income reporting, particularly for self-employed individuals, freelancers, and online sellers. With the continued rise of digital platforms and gig work, proper reporting is more important than ever.
Taxpayers are encouraged to maintain organized records and ensure all income sources are properly declared to avoid potential audits or compliance issues.
Post-Deadline Filing: Penalties May Still Apply
Now that the April 15 tax deadline has passed, the IRS reminds taxpayers that failure to file can result in ongoing penalties and interest. Even if you were unable to pay your full tax balance, filing your return as soon as possible can help minimize penalties.
Taxpayers who requested an extension should remember that the extension only applies to filing — not payment. Any unpaid taxes may continue to accrue interest.
IRS Encourages Payment Plans for Outstanding Balances
If you currently have unpaid taxes, the IRS continues to offer flexible payment options. Installment agreements allow taxpayers to settle their balances over time instead of paying in full immediately.
This is especially helpful for individuals and small business owners managing cash flow after tax season. However, penalties and interest will continue until the balance is fully paid.
Estimated Tax Payments Remain Ongoing
For taxpayers who earn income without automatic withholding, such as freelancers and business owners, estimated tax payments continue throughout the year.
Missing these quarterly payments may result in penalties, so it’s important to plan ahead and allocate funds accordingly.
IRS Warns Against Ongoing Tax Scams
Even after tax season, IRS-related scams remain active. Taxpayers should stay cautious of phishing emails, fake calls, and messages pretending to be from the IRS.
The IRS does not initiate contact through email, text, or social media to request sensitive personal or financial information.
November 8, 2021
Get ready for taxes: Easy steps taxpayers can take now to make tax filing easier in 2022.
November 3, 2021
Year-end giving reminder: Special tax deduction helps most people give up to $600 to charity, even if they don't itemize.
October 27, 2021
Additional Hurricane Ida relief from IRS: Sept. 25, Oct, 15 deadlines...
October 22, 2021
COVID relief: IRS helps employers wanting to rehire retirees or retain employees after retirement age.
October 15, 2021
IRS updates the process for frequently asked questions on new tax legislation and addresses reliance concerns.
September 22, 2021
IRS launches new webpage to assist taxpayers with refunds subject to Joint Committee on Taxation review
September 15, 2021
IRS: reminds business owners to correctly identify workers as employees or independent contractors
September 10, 2021
IRS: Cost of home testing for COVID-19 is eligible medical expense; reimbursable under FSAs, HSAs
Check out more info here.
September 7, 2021
IRS: Deadline for third quarter estimated tax payments is Sept. 15
Here are the details.
August 30, 2021
September is National Preparedness Month; IRS urges taxpayers to prepare for natural disasters
August 13, 2021
IRS: Families now receiving August Child Tax Credit payments; still time for low-income families to sign up
August 10, 2021
Treasury, IRS provide gross receipts safe harbor for employers claiming the Employee Retention Credit
August 3, 2021
Tax Pros can help clients battle identity theft risks related to unemployment
Read more here.
July 30, 2021
IRS: Businesses, charities, others with Employer Identification Numbers must update responsible party information within 60 days of any change
Check out more info here.
July 29, 2021
Paid leave credit available for providing leave to employees caring for individuals obtaining or recovering from a COVID-19 immunization
See the breakdown of payments here.
July 16, 2021
IRS Security Summit announces summer campaign to raise awareness among tax pros about identity theft; urges practitioners to boost security immunity.
Read more here.
June 24, 2021
Did you know that the IRS accounts for approximately 96% of the funding that supports federal government operations? The IRS issued the Data Book detailing the agency's activities during fiscal year 2020.
Read more and check out the Data Book here.
June 14, 2021
IRS unveils an online tool to help low-income families register for monthly Child Tax Credit Payments.
Check out the tool and more info here.
June 11, 2021
New FAQs available to aid families and small business under the American Resue Plan!
Learn more here.
June 4, 2021
Recently, the Governor announced a proposal to expand and add stimulus payments for more Californians!
Read more here.
May 27, 2021
With the May 17 deadline in the past, file taxes now to get a refund or cut penalties and interest
Read more here!
May 6, 2021
More than 1.1 million additional Economic Impact Payments disbursed under the American Rescue Plan; payments total approximately 164 million
May 4, 2021
As hurricane season nears, IRS reminds people to prepare for natural disasters
May 3, 2021