Angela's Taxes, LLC, Angela L Wadsworth, CPA

08/30/2026

08/27/2026

What taxpayers should know about IRS third party authorizations

Taxpayers can give a third party the authority to help with federal tax matters. Depending on the type of authorization, this could be a family member or friend, or a tax professional, attorney or business.

There are different types of third-party authorizations with specific roles assigned. Additionally, taxpayers who want to have a third party represent them must formally grant them permission to do so.

Different types of third-party authorizations:

Power of Attorney – Allows someone to represent a taxpayer when resolving tax matters with the IRS. With this authorization, the representative must be an individual authorized to practice before the IRS and Form 2848, Power of Attorney and Declaration of Representative must be completed. A POA can do several things, such as:
Represent, advocate, negotiate and sign on behalf of the taxpayer
Argue facts and the application of law
Receive tax information for the matters and tax years/periods specified by the taxpayer
Receive copies of IRS notices and communications
Tax Information Authorization – Appoints a person to review or receive a taxpayer's confidential tax information for the type of tax for a specified period using form 8821.
Third Party Designee – Designates a person on the taxpayer's tax form to discuss that specific tax return and tax year with the IRS.
Oral Disclosure – Authorizes the IRS to disclose the taxpayer's tax info to a person the taxpayer brings into a phone call or meeting with the IRS about a specific tax issue.
Revoking a third-party authorization
A taxpayer can choose to revoke any authorization at any time.

Power of Attorney stays in place until the taxpayer revokes the authorization or the representative withdraws it.
Tax Information Authorization stays in effect until it is revoked by the taxpayer or the designee withdraws it.
Third Party Designee generally expires one year from the due date of the tax return, not counting extensions.
Oral disclosure, unless it’s stated otherwise, is automatically revoked once the conversation has ended. If the taxpayer wants additional oral disclosure exceeding the original request, a new authorization will be required.

08/27/2026

Tax transcripts: Know the different types and how to get them

Taxpayers may need to access their tax records or transcripts for many different reasons. It could be needed for filing a tax return, applying for a mortgage or loan, to name a couple of reasons.

There are several different kinds of tax transcripts available to taxpayers for free. Here’s what’s available, what they are and how they can be obtained.

What are the different transcript types?

Tax return transcripts show most line items from the taxpayer’s original Form 1040-series tax return, along with any forms and schedules, but doesn't show any changes made after the original return was filed. It’s available for the current and three prior tax years and is often used for life events such as mortgages or financial aid.
Tax account transcripts show basic information such as filing status, taxable income, and payment types. Unlike the tax return transcripts, this one will show changes made after the original return was filed and is generally available for the current and nine prior tax years.
Record of account transcripts combine the tax return and tax account transcripts above into one complete transcript. This transcript is available for the current and three prior tax years.
Wage and income transcripts show data from information returns we receive such as Forms W-2, 1098, 1099, and 5498. The transcript will only display information return documents that have been filed with the IRS which may not reflect all the information return documents issued to the taxpayer. This transcript is available for the current and nine prior tax years.
Verification of non-filing letter states the IRS has no record of a processed Form 1040-series tax return as of the date of the request. It doesn't indicate whether the taxpayer was required to file a return for that year. This letter is available after June 15 for the current tax year or anytime for the prior three tax years.
Ways to get transcripts

Register to use Individual Online Account to view, print, or download all transcript types listed above.
Order a transcript by mail or call the automated phone transcript service at 800-908-9946. This typically takes between 5 to 10 calendar days for delivery.
Request any transcript listed above by submitting Form 4506-T, Request for Transcript of Tax Return.
A transcript isn't a photocopy of a taxpayer’s actual return. If a copy of the original return is needed, they can submit Form 4506, Request for Copy of Tax Return. Refer to the form for the processing time and fee.

08/27/2026

IRS reminder: Extension filers can use IRS Free File this summer
IR-2026-101, Aug. 26, 2026

WASHINGTON — The Internal Revenue Service today encouraged taxpayers who requested an extension to file their 2025 federal tax return as soon as possible, rather than waiting until the Oct. 15 deadline.

IRS Free File remains available through Oct. 15, 2026, and offers free guided tax preparation for taxpayers with an adjusted gross income of $89,000 or less in 2025. Taxpayers can prepare and e-file federal returns securely with IRS trusted partners at no cost. Taxpayers with income above the threshold can use Free File Fillable Forms if they are comfortable preparing their own tax returns.

Filing over the summer helps taxpayers avoid the fall rush and gives them more time to resolve issues or arrange payments, if needed. An extension gives taxpayers more time to file but not more time to pay. Taxpayers who owe tax should pay as much as they can as soon as possible to limit penalties and interest.

IRS Free File provides a secure, convenient way to file from home. The guided software includes step-by-step instructions and built-in error checks, and some trusted partners also offer free state tax return preparation and filing for eligible taxpayers.

Taxpayers who are due a refund can get their refund faster by filing electronically and choosing direct deposit.

08/21/2026

Treasury, IRS issue proposed regulations on eligible investments for Trump Accounts under the Working Families Tax Cuts

IR-2026-96, Aug. 20, 2026

WASHINGTON — The Department of the Treasury and the Internal Revenue Service today issued proposed regulations on eligible investments for Trump Accounts, a new type of traditional IRA under the Working Families Tax Cuts.

“These proposed regulations will provide clarity for trustees and beneficiaries of Trump Accounts, thus encouraging eligible participants to invest in low-fee mutual funds and ETFs that will grow on a tax-deferred basis potentially over their entire lives,” said IRS Chief Executive Officer Frank J. Bisignano. “Funds deposited in Trump Accounts enable American children to start investing now and enjoy years of compound earnings for their future college, retirement and other needs.”

Eligible investments for Trump Accounts
Funds in a Trump Account may only be invested in eligible investments during the growth period, which begins when the account beneficiary’s initial Trump Account is established and ends on Dec. 31 of the calendar year in which the account beneficiary turns age 17. After the growth period, the eligible investment restrictions no longer apply.

For Trump Accounts, an eligible investment generally is a mutual fund or exchange traded fund that tracks an equity index of primarily U.S. companies, such as the S&P 500 index, does not use leverage, and has annual fees and expenses of no more than 0.1 percent of the balance of the investment in the fund.

If an account beneficiary does not select an eligible investment offered by the trustee, funds in a Trump Account automatically will be invested during the growth period in an eligible investment selected by the trustee.

The proposed regulations provide rules for determining whether an investment is an eligible investment and procedures for a trustee to ensure that funds are invested in an eligible investment. These regulations generally would apply to tax years beginning on or after Jan. 1, 2026.

Request for comments
These proposed regulations take into account stakeholder comments regarding eligible investments that were made in response to Notice 2025-68, issued in December 2025.

Treasury and the IRS also now request additional comments from interested parties by Oct. 20, 2026. Complete instructions on submitting comments can be found in the proposed regulations.

Sign up for a Trump Account and the pilot program

Parents, guardians, and other authorized individuals, can use IRS Individual Online Account to complete Form 4547, Trump Account Election(s) to open a Trump Account for a child with a Social Security number if the election is made before the calendar year in which the child turns age 18. If that child is a U.S. citizen born in 2025 through 2028, the parent or other individual who qualifies to make the election can check a box on Form 4547 to elect a $1,000 pilot program contribution for the child’s Trump Account.

Visit trumpaccounts.gov for more information on Trump Accounts. For more information on the provisions of the new legislation, see Working Families Tax Cuts Provisions on IRS.gov.

08/20/2026

IRS launches digitally authenticated Tax Compliance Report
New report provides secure, on-demand access through IRS Individual Online Account
IR-2026-97, Aug. 20, 2026

WASHINGTON — The Internal Revenue Service today announced a digitally authenticated Tax Compliance Report available through IRS Individual Online Account.

Taxpayers can securely obtain and download the report when applying for a job, a loan, a government benefit, or another service that requires tax compliance information.

Financial institutions, government agencies, and other organizations that receive the report can use its built-in digital certificate to confirm its authenticity. The certificate also helps protect taxpayer information and maintains the integrity of the report.

“By providing a secure, digitally authenticated report, the IRS is making it easier for taxpayers to access and share important information while protecting privacy and data integrity,” said IRS Chief Executive Officer Frank J. Bisignano.

Key benefits
Authenticated and secure: Each Tax Compliance Report includes an IRS-issued digital certificate that confirms its authenticity.
Built-in verification: Verification features are embedded directly in the downloadable file.
On-demand access: Taxpayers can access and download their report at any time through their IRS Individual Online Account.
Standardized assurance: Each report includes the same authentication and verification features.
For more information, visit Tax Compliance Report on IRS.gov.

08/20/2026

What employers need to know about the enhancements to the Paid Family and Medical Leave Tax Credit

Employers, including small businesses, that provide paid family and medical leave to their employees may be eligible for an employer tax credit. Several enhancements have been made to this credit under the Working Families Tax Cuts.

Here’s an overview of the employer credit for Paid Family and Medical Leave, including the recent changes.

What is the employer credit for PFML?

Employers who meet the requirements can claim a general business tax credit from 12.5% to 25% of wages paid to qualifying employees for up to 12 weeks of family and medical leave per taxable year.

Employers can offer up to 12 weeks of paid family and medical leave to employees for the following reasons:

Having a baby, adopting or fostering a child
Taking care of their own serious health condition or for their spouse, child, or parent
Dealing with a situation of a close relative who is a member of the Armed Forces and on covered active duty
Taking care of a close relative who is seriously ill or an injured covered servicemember
Key enhancements:

The credit is now permanent.
Expanded eligibility: Employers can claim the credit for employees with six months of service and for part-time employees working 20 hours or more per week.
Expanded coverage: Employers can claim the credit for insurance premiums paid to provide leave, or wages paid during leave.
State and local mandates: Employers can count leave provided under state or local mandates toward the eligibility for this federal tax credit, but not toward the credit calculation.
Ways to claim the credit

Employers can claim the credit using one of these methods:

New premium-based: Based on qualifying premiums the employer paid for PFML insurance policies
Wage-based: Based on the wages paid while the employee is on PFML
Learn more about each method in Notice 2026-28. It compares the two methods, addresses how to allocate the qualifying premiums, and how to elect between the premium method and the wage method.

08/20/2026

10 days left to vote for Best of the Bay! I am nominated for Best CPA! You can vote daily at the link below. Thank you for all your support!

https://vote.cltampa.com/services/best-cpa-tax-preparer-enrolled-agent

There is a mistake on the link - If you can vote for the one that shows my business name that would be great. Angela's Taxes, LLC, Angela L Wadsworth, CPA

It's the BEST time of the year—time to tell us your favorite local people, places, businesses, events, and more!

08/18/2026

Please check out my new website and feel free to pass along if anyone is looking for a CPA!

Angela's Taxes, LLC provides tax services for individuals and small businesses, including Form 1040, 1040-X amendments, Schedule C, and Schedule E support.

08/18/2026

The top 5 tips for extension filers

Extension filers don’t have to wait until Oct. 15, 2026, to file their federal tax return. Taxpayers are encouraged not to wait and to take steps to help them prepare an accurate return. Let’s go over a few tips to make completing the return quick and easy.

Gather and review tax documents
Complete and accurate records can reduce errors and delays. Individual taxpayers can access their IRS Individual Online Account to view account information and transcripts, make payments, and manage communication preferences.

Use IRS Free File, if eligible
Taxpayers can see if they are eligible to file their return for free through IRS Free File. The program is available to taxpayers who had an adjusted gross income of $89,000 or less in 2025. IRS Free File is guided tax preparation and can help taxpayers determine their eligibility for many valuable tax credits.

IRS Free File Fillable Forms is available to taxpayers who are comfortable preparing and filing their own returns. Regardless of income level, taxpayers can still electronically file their returns at no cost.

Additionally, many Volunteer Income Tax Assistance and Tax Counseling for the Elderly still offer free basic tax return preparation to qualified individuals, including:

People who generally qualify for the Earned Income Tax Credit
Persons with disabilities
Limited English-speaking taxpayers
Know what to look for, if choosing a tax pro
Some may choose to use a tax professional to complete and file their return. A tip earlier this year, provides important tips when choosing a tax pro.

Don’t wait until the last minute
The extension to file is not an extension to pay. The deadline for extension filers is Oct. 15, 2026. Taxpayers should file electronically and choose direct deposit for their tax refund – it's the fastest and safest way to receive their money.

Taxpayers in disaster areas may have more time to file. Information on the most recent tax relief for disaster situations is available on the IRS website.

Payment options
Those who owe taxes and can't pay their balance in full should pay as much as they can to reduce interest and penalties for late payment. The IRS has options for people who can't pay their taxes, including applying for a payment plan on IRS.gov. Taxpayers can view payment options or check their account balance online.