Income Tax
Latest News
IRS Updates Clean Vehicle Tax Credit FAQs
Ex-EY Executive to Take Over as Global CEO for Law Firm Dentons
Wolters Kluwer Acquires European Tech Portfolio, Including CodaBox, ClearFacts, Clearnox, Zoomit, and Flowin
IRS Chief Receives NATP’s Inaugural Vanguard Award
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IRS Audits Dropped Slightly in 2022
Low-income wage-earners taking the earned income tax credit had a higher-than-expected audit rate, report says.
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Bankman-Fried Pleads Not Guilty, Trial Likely to Begin in October
The not guilty plea puts the case on track for a lengthy trial, which could last at least four weeks.
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Do You Need A Charitable Appraisal? 2023 Tax Tips
The appraisal rules don’t apply to donations of publicly traded securities. Use the quoted market price to determine the FMV of the securities. This takes a lot of the guesswork out of the deduction.
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Adoption Tax Credit Provides Valuable Benefit
The adoption credit is indexed annually by the IRS. Due to the rising inflation of late, the figures have jumped dramatically.
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Six Years of Donald Trump’s Tax Returns Released
The Trumps paid $750 or less in federal income tax in 2016 and 2017, and zero in 2020, according to the returns released by the House Ways and Means Committee...
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New EV Tax Credits OK for Leased Vehicles, Treasury Guidance Says
It goes against the wishes of Sen. Joe Manchin, who asked Treasury not to allow leased vehicles to qualify.
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Marijuana and Workplace Law in 2023
In stark opposition to federal law, the rapid proliferation of state marijuana laws has made maintaining legally compliant drug policies a major task for most employers.
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How to Max Out the Gift Tax Exclusion
When possible, limit your lifetime gift-giving to amounts covered by the annual gift tax exclusion.