Tax Court Decides “He Said, She Said” Case
Generally, the IRS has three years from the later of the time your tax return was filed or its due date to review the return and assess tax.
Generally, the IRS has three years from the later of the time your tax return was filed or its due date to review the return and assess tax.
Accountant: "I probably would’ve had a heart attack,” Bender said on cross-examination.
Trump and his lawyers had already lost before a federal district judge appointed by Trump and an appeals court panel with two Republican appointees.
A provision in the Tax Cuts and Jobs Act (TCJA) changes how tax law treats research and development expenses ... pushing many money losing startups into owing taxes.
If the aide performs other household chores like cooking and cleaning, you must apportion their wages. Only the part allocable to medical care is deductible as a medical expense.
Unfortunate as it may be, you know that small business clients too often neglect their bookkeeping, expense documentation, and other tax-related responsibilities.
You can add the cost of premiums to the amount you need to surpass the deduction threshold for medical expenses. But the IRS strictly limits the amount you can write off for LTCI insurance each year.
The tax law also allows you to write off amounts paid for a dependent such as an elderly relative.