Tax

SurePrep and Legible have joined forces to automate Virtual Currency and Crypto Tax compliance for professionals. This partnership ensures tax professionals have the tools and technology necessary to meet the expected increase in compliance activity ...

Normally, retirees in their seventies or older arrange to receive required minimum distributions (RMDs) from retirement accounts at the end of the year. Otherwise, they could be held liable for a severe tax penalty, on top of the ...

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.

For the upcoming tax season, employers that they must file Form W-2 and other wage statements by Feb. 1, 2021, to avoid penalties and help the IRS prevent fraud.

The IRS has just reminded nonitemizers that they may be able to claim a special deduction for charitable contributions in 2020 (IR-2020-264, 11/25/20). But it failed to mention that married couples filing jointly may be penalized.

Many American taxpayers haven’t caught up with the latest changes in the redesigned W-4, which the IRS released a year ago, putting them at risk for an unexpected tax bill next April. In fact, nearly two in five (37 percent) American taxpayers admit they aren’t even familiar with the W-4, including 11 percent who say […]

The people in your firm will determine the success or failure of your business. They are your most important asset. Yet, a bad hire can drive away clients and poison morale. My team is important, and while I intentionally invest my time and money in ...

It’s customary to give to charity around the holidays at the end of the year. Not only does this benefit worthy causes, it can pay off with a bigger charitable deduction on your tax return.