Income Tax
Latest News
Professionals on the Move – Nov. 2024
Top Hyundai Exec Says EVs Are ‘the Future’ Even if Trump Kills Tax Credit
3 Reasons to Involve Your Children in Small Business Saturday
Review of Blue J – The Accounting Technology Lab Podcast – Nov. 2024
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.
IRS Looks to Improve Communication With Large Corporations During the Appeals Process
The agency is piloting a program that would make contacting IRS Appeals easier for large businesses with multiple representatives.
Attorney Flagged for Tax Evasion in New Case
In his efforts to evade tax liability, this attorney from Missouri committed multiple fraudulent acts, for which he was found guilty.
Trump and Harris Hit Must-Have States as They Clash Over Economic Visions
Kamala Harris was in Pennsylvania Sept. 25 while Donald Trump was in North Carolina—battleground states crucial for victory.
IRS Posts New Per Diem Tax Deduction Rates For Business Travel
Come Oct. 1, the per diem rates will be $319 for business travel to high-cost locations and $225 for travel to low-cost areas.
Code for America’s Free Tax Filing Coming to More States
Civic tech nonprofit Code for America is broadening its tax filing simplification process to Maryland and North Carolina in January.
Three Whistleblowers Will Share One of the Largest Awards Ever Given By the IRS
The three people will share a $74 million payout for disclosing a tax evasion scheme that enabled the IRS to collect $263 million.
Best Practices for Tax Professionals Filing Returns During the 2025 Filing Season (For 2024 Taxes)
Tax law is always changing, and keeping up is what tax professionals are about, or they can end up with costly errors if new credits and deductions apply or changes in filing requirements take place.