3 Important IRS Updates You Should Know

The IRS continues to make changes to its online services while also warning taxpayers about scams and addressing ongoing issues with refundable tax credits. Here are three recent updates taxpayers and business owners should know about.

New Features Added to IRS Business Tax Accounts

The IRS has added new features to its online business tax accounts, making it easier for businesses to manage their tax information online. Business owners can use their accounts to view outstanding taxes and payment history, access digital copies of IRS notices, make electronic payments, and verify that the IRS has the correct business name and address on file. New features also allow users to download a copy of their Employer Identification Number (EIN) notice, view details about an existing payment plan and make scheduled payments toward the plan, submit payments for an offer in compromise, and access additional IRS notices electronically.

IRS Warns Cryptocurrency Owners About New Scam

The IRS is also warning cryptocurrency holders about a scam involving fake IRS letters.

According to the IRS Criminal Investigation division, scammers have been sending letters that appear to come from the IRS and directing recipients to a fake website designed to look like the official IRS website. The letters claim that recipients need to register for a “digital asset compliance portal” by a specific deadline. However, this portal does not actually exist. If you receive a suspicious letter or message like this, do not provide your personal or financial information or visit the website listed in the correspondence. When in doubt, verify the information directly through the official IRS website.

IRS Faces Billions in Improper Refundable Tax Credits

The IRS also continues to face challenges with improper payments of refundable tax credits.

For fiscal year 2025, the IRS estimated that approximately $105.7 billion in refundable tax credits were paid improperly, representing an estimated 26.5% improper payment rate. A large portion involved the Earned Income Tax Credit and refundable portions of the Child Tax Credit.

The Treasury Department's inspectors have identified several reasons for these errors, including complicated eligibility requirements, limitations on the IRS's ability to verify certain requirements when returns are filed, difficulties automatically correcting errors, and reduced staffing that has resulted in fewer return examinations.

The Bottom Line

From expanded online services to new scams and ongoing tax credit issues, staying informed about IRS updates can help taxpayers avoid mistakes and protect themselves from fraud. Always verify tax-related communications through official IRS resources before providing personal information or making a payment.