Tax

Foreign trade interruptions due to the COVID-19 pandemic have prevented many companies and individual sellers from replacing their inventory – these interruptions meet the definition of a “qualified inventory interruption” under section 473(c)(2).

Notice 2021-26 clarifies for taxpayers that if these dependent care benefits would have been excluded from income if used during taxable year 2020 (or 2021, if applicable), these benefits will remain excludible from gross income and are not considered ...

Several provisions affect the 2020 tax return people are filling out this filing season, including one exempting up to $10,200 in unemployment compensation from tax and another benefiting many people who purchased subsidized health coverage through ...

The new app provides information on requisitions for new contracts. Using historical data of contract awards, the intelligent web app forecasts the number of days to contract award for requisitions in the IRS’s Integrated Financial System – ...

Michael Jackson’s estate has been fighting the IRS for seven years over the value of the pop star’s name and likeness and music rights holdings. Jackson died in 2009 at the age of 50 amid several reputation-damaging scandals...

Lawmakers in Kansas gathered May 3, 2021, to start finalizing the state budget and attempt to override several gubernatorial vetoes. Shortly after convening, they succeeded in overriding the veto on Senate Bill 50, which requires marketplace ...

Speakers include a number of key IRS leaders as well as nationally recognized criminal tax attorneys. The conference will be broadcast live on June 4, 2021. All proceeds go to charity.

An Enrolled Agent, or EA for short, is a tax advisor who has earned the privilege of representing taxpayers before the Internal Revenue Service by completing a three-part exam, and is also the highest credential you can be awarded by the Internal ...