Income Tax
Latest News
‘Unpredictable’ Election Clouds Tax and Economic Policy View
Sanders May Bring His Populist Brand to Powerful Senate Finance Committee
Accountant Gets Jail Time For Charging $3 Million on New Jersey Employer’s Credit Card
New Jersey Joins IRS Direct File For 2025 Filing Season
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Trump’s Plan to Stop Taxing Tips Could Cost Up to $250 Billion
A bill introduced by Republican lawmakers would ax federal and employment taxes on tips, but doing so could come at a price.
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Majority of Outstanding High-Risk ERC Claims Expected to Be Rejected
The review involved months of digitizing information and analyzing data since last September to assess a group of more than 1 million Employee Retention Credit (ERC) claims representing more than $86 billion filed amid aggressive marketing last year.
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Florida Fisherman Pleads Guilty to Evading $400K in Taxes
He is scheduled to be sentenced on Sept. 17 and faces a maximum sentence of five years in prison, a period of supervised release, restitution and monetary penalties.
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IRS Offers Guidance on Exceptions to Tax on Early Emergency Retirement Distributions
A taxpayer is permitted to receive a distribution from an applicable eligible retirement plan to meet unforeseeable or immediate financial needs relating to necessary personal or family emergency expenses.
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House GOP Shifts Message on 2017 Tax Cuts
Cost concerns and blue-district GOP issues prompt strategy rethink among Republicans charged with reviewing the expiring provisions.
![](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/Ron-Wyden-1-768x512.jpg)
Senate Finance Dems Look to Raise Revenue for 2025 Tax Cliff
Top party lawmakers are making it clear that taxes need to rise on wealthy individuals and multinational corporations.
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Unrealized Gains Tax Upheld by Supreme Court
The U.S. Supreme Court’s 7-2 ruling in Moore v. U.S. on June 20 reaffirms how income is taxed in the United States.
![](https://www.cpapracticeadvisor.com/wp-content/uploads/sites/2/2022/11/IRS-website-768x511.jpg)
IRS Releases FAQs on Sec. 127 Educational Assistance Programs
If provided under an educational assistance program, certain educational assistance benefits can be excluded from gross income.