Income Tax
Latest News
Avalara Unveils Intelligent Tax Content Solution for Lodging and Hospitality
Survey: Over Half of Accounting Firms Plan to Increase Fees in 2025
Andersen Advances Global Valuation Practice in 10 Asia Pacific Countries
81% of Business Owners Have Some Optimism for 2025 Economic Outlook
IRS Provides Tax Relief to All of Florida After Hurricane Milton
Because of hurricanes Debby, Helene, and Milton, affected taxpayers have until May 2025 to file returns and make tax payments.
Tax Gap For 2022 Estimated At $696 Billion, IRS Says
The projected gross tax gap for 2022 is down $12 billion from a revised 2021 tax gap of $708 billion, the agency said Oct. 10.
Trump Pledges to Eliminate Income Taxes on Americans Living Abroad
His plan could allow wealthy Americans to move to low-tax countries and avoid any tax obligations.
Wolters Kluwer Provides Insights Into 2024 Natural Disaster Tax Relief Options
Crucial tax relief opportunities may be available to those affected by recent natural disasters, such as Hurricane Helene.
IRS Proposes Regs to Exempt Tribal-Owned Companies From Income Tax
During discussions with Treasury, tribes had requested rules on the federal tax classification of entities owned by tribes.
IRS Announces Tax Relief For Wildfire Victims in Parts of Washington
Federal officials have announced tax relief for people and businesses in the Yakama Nation affected by wildfires that began June 22.
IRS Extends Tax Deadlines Until May For Helene Victims
The entire states of Alabama, Georgia, and the Carolinas, as well as parts of Florida, Tennessee, and Virginia, qualify for tax relief.
IRS Draft Form 7217 Ready For Public Comment
The purpose of Form 7217, new for tax year 2024, is to report all distribution of property that a partner receives from a partnership.