Tax

One aspect of an economic slowdown companies are prone to overlook involves taxes. Recessions tend to widen the tax gap, essentially the difference between how much taxpayers owe and how much they actually pay. An increase in the tax gap would almost assu

The proposed regulations reflect statutory amendments and certain grants of reporting relief announced by the Treasury Department and the IRS in prior guidance to help many tax-exempt organizations generally find the reporting requirements in one place.

The Relief Procedures for Certain Former Citizens apply only to individuals who have not filed U.S. tax returns as U.S. citizens or residents, owe a limited amount of back taxes to the United States and have net assets of less than $2 million.

The estimator is an expanded, mobile-friendly online tool that replaced the Withholding Calculator, which since 2001 had offered workers an online method for checking their withholding. The old calculator lacked features geared to self-employed ...

To minimize or prevent disruptions to the supply of fuel for diesel-powered highway vehicles because of Hurricane Dorian, the Internal Revenue Service announced today it will not impose a penalty when dyed diesel fuel is sold for use or used on the ...

Employers and employees in the service industries that involve tipping need to comply with a unique set of tax rules. Like wages, you must pay income tax, Social Security tax and Medicare tax on tip income.

Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.

One aspect of an economic slowdown companies are prone to overlook involves taxes. Recessions tend to widen the tax gap, essentially the difference between how much taxpayers owe and how much they actually pay. An increase in the tax gap would almost ...