Income Tax

The annual gift tax exclusion allows you to gift up to a specified amount to each recipient each year without any gift tax liability.

The IRS has hit the restart button on sending out automated collection notices, ending a two-year hiatus because of the COVID-19 pandemic.

Hunter Biden must respond to federal charges that he failed to pay taxes on millions of dollars he received from foreign businesses.

Biden’s lawyers argue that all gun and tax charges should be dropped because their client has immunity under a deal he struck in July.

Biden is accused of failing to pay his taxes on time from 2016 to 2019, filing false and fraudulent tax returns in 2018, and tax evasion.

Let’s talk through how these two functions differ, and how you as a tax professional can better define them for your clients to create additional revenue streams.

Jack Lee Oliver of Rivesville, WV, used a foster child he never met to inflate his tax refund, according to the Justice Department.

Democratic dreams of imposing a wealth tax on the richest Americans risk being snuffed out by a dispute over a $14,729 bill.