Income Tax
Latest News
Report Says Undocumented Immigrants in U.S. Pay Nearly $100 Billion in Taxes
Emburse and Finexio Partner for B2B Payments
How Generative AI Will Disrupt Accounting
Mid-Market Optimism Hits Pre-Covid Record Highs
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Misplaced SSA-1099 Forms Can Be Replaced Online
The U.S. Social Security Administration has announced that new online services include the ability to quickly and easily get a replacement form SSA-1099 within minutes.
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IRS Targets Tax Shelter Abuses, Misuse of Trusts
The Internal Revenue Service is targeting abusive tax shelters and structures it says some Americans use to avoid paying taxes. The agency says the problem has been a lingering issue, and so it has been added to the annual list of tax scams known as the “
IRS Watching for Fake Documents During Income Tax Season
Hiding taxable income by filing false Form 1099s or other fake documents is a scam that taxpayers should always avoid and guard against, according to the Internal Revenue Service. This scheme is one of those on the annual “Dirty Dozen” list of tax scams f
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How to Get a Charitable Tax Deduction Without Donating Anything
It’s very rare in the tax world when you can “get something for nothing.” But that’s essentially what happens when a real estate owner donates a qualified conservation easement to charity. In essence, the property owner is merely agreeing to keep the land
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IRS Looking for Offshore Tax Schemes and Scams
Avoiding taxes by hiding money or assets in unreported offshore accounts remains on the annual Internal Revenue Service list of tax scams known as the “Dirty Dozen” for the 2015 filing season.
IRS Warns of Shady Tax Preparers, Advises Taxpayers to Use CPAs or EAs
The Internal Revenue Service is once again warning taxpayers to be on the lookout for unscrupulous income tax return preparers, one of the most common “Dirty Dozen” tax scams seen during tax season.
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There’s Still Some Juice Left in the Residential Energy Tax Credit for 2014 Returns
It’s not quite “lights out” yet for the residential energy credit. This tax break for homeowners, which has expired and been renewed numerous times in the past –sometimes with modifications -- was extended once again by the Tax Increase Prevention Act of
3 Ways Obamacare Affects Income Tax Returns
Unless you’ve been way out of touch, you probably know that a key part of the Affordable Care Act (ACA), aka Obamacare, requires that taxpayers have qualifying health care coverage. Those without will need to qualify for an exemption, or pay a penalty.