Income Tax

The Tax Blotter is a round-up of recent taxation news.

Inflation adjusted amounts in the tax code will increase by roughly 7.1% from 2022, more than double last year’s increase of 3%, according to the 2023 Projected U.S. Tax Rates forecast.

Everyone knows the saying “hope for the best, prepare for the worst.” As tax professionals, we actually have to take this mindset a step further.

The new law retains the maximum credit of $7,500 for 2023 through 2032. However, the IRA changes other rules of the road, as follows:

The NTA outlines the most time-sensitive priorities for the IRS in part one of her NTA Blog which focuses on eliminating the backlog of processing paper ...

Earn from 1 to 14 hours of free CPE during this online 2-day event. Pick only the sessions you want to attend, and finish up your CPE requirements before the end of the year.

The word paladin means a champion of a cause. Grant Thornton and its professionals have donated more than $650,000 to Purple Paladin nonprofits.

A start-up business can claim a current deduction for qualified start-up costs if it meets two requirements, as stated by the IRS.