Tax

Under the Tax Cuts and Jobs Act (TCJA), parents can no longer claim dependency exemptions for qualifying children, effective for 2018 through 2025. But you may be able to offset this loss with certain tax credits.

Starting on April 19, the Self-Correction Program permits the self-correction of certain plan document failures, provides correction options and possible relief from deemed distributions associated with certain failures involving plan loans made to ...

Snipes still owed $23.5 million in back taxes when he was set free. In order to resolve his tax debt, the actor made an OIC of $850,000, or about 4% of the amount he owed.

The LITC Program is a federal grant program administered by the Office of the Taxpayer Advocate at the IRS, led by the National Taxpayer Advocate, Nina E. Olson. Under Internal Revenue Code (IRC) Section 7526, the IRS ...

The IRS, has very strict rules deeming which people are employees and ones that are not. The tests are rather simple to follow. They all boil down to whether the employer has “control” over the employee.

In the past year, nearly three quarters of corporate tax professionals (74 percent) say they dedicated extra time and resources, including bots and Artificial Intelligence (AI), in order to comply with federal tax reform policy changes, according to ...

The Associate Chief Counsel, International, is responsible for coordinating and directing all activities of the international organizational component of the Office of Chief Counsel. That organization provides legal advisory services on all ...

The ETAAC provides an organized public forum for discussion of issues in electronic tax administration, such as prevention of identity theft and refund fraud. ETAAC supports the overriding goal that paperless filing is the preferred and most ...