Income Tax
Latest News
GASB Proposes Guidance on Subsequent Events
FASB Issues Post-Implementation Review Report for Its Revenue Recognition Standard
Newsom: California Will Offer EV Rebates if Trump Cuts Federal Tax Credit
Bloomberg Tax & Accounting’s Compliance Tracker Expands Global and Indirect Tax Capabilities
‘What a Difference a Year Makes!’: IRS Has Made a Huge Dent in Tax Return Backlog
In her midyear report to Congress, National Taxpayer Advocate Erin Collins shared several IRS improvements this filing season.
Paychex Charitable Foundation Donates $1 Million to National Urban League
The grant, which allocates $250,000 annually over four years, will support job training and workforce development programs in key markets where Paychex has a high concentration of employees.
Hunter Biden to Plead Guilty to Tax and Gun Charges
Hunter Biden has been charged with illegally possessing a handgun in 2018 as well as two tax misdemeanors, for failing to file and pay taxes on time in 2017 and 2018.
Conservatives’ Budget Plan Renews Battle Over Social Security Benefits, Tax Cuts
The proposal would gradually raise the age at which future retirees can claim full Social Security benefits from 67 to 69.
TIGTA: IRS Gave Out More Than $10 Billion in Excess Child Tax Credits in 2021
The IRS miscalculated 2021 child tax credit payments for thousands of eligible taxpayers as of May 5, 2022, TIGTA said.
Ins and Outs of the Home Sale Exclusion
Here are several key points about the home sale exclusion that you should know about before you hand over the keys.
Key In on Improved Home Energy Credits
The IRS is reminding taxpayers that they may qualify for expanded home energy credits in 2023 (IR-2023-97, 5/4/23) There are two types of credits.
The IRS and Gambling – The Tax Blotter – June 16, 2023
Taxpayers can claim a limited deduction for gambling losses, but the IRS keeps close tabs on these write-offs.