Income Tax

Hunter Biden was indicted last month in California on nine tax offenses, including failing to pay his taxes on time from 2016 to 2019.

Congress should narrow a loophole that could spare Shohei Ohtani from paying tens of millions in California taxes, Malia Cohen said.

Nearly 500,000 taxpayers with cases pending at the IRS waited almost 19 months for their identity theft issues to be resolved.

While Trump plans to keep the 21% corporate tax rate unchanged if re-elected, his 2017 tax cuts for individuals will expire after 2025.

The IRS has announced that it will start accepting and processing tax returns on Monday, Jan. 29, 2024. The agency expects more than 128.7 million individual tax returns to be filed by the April 15, 2024, tax deadline.

Not everyone who was entitled to an EIP was able to collect the full amount they were owed. Either they didn’t receive the correct amount or they didn’t get a payment at all.

Depending on your situation, you might elect to forgo preferential tax treatment on certain long-term capital gains and qualified dividends in favor of deducting investment interest expenses.

Under the “ordering rules” established under IRS regulations, most of the payout of a nonqualified Roth distribution may be tax-free anyway—maybe even all of it.