Income Tax

The latest extension—approved as part of the Consolidated Appropriations Act (CAA)—continues the WOTC for a five-year period.

Generally, the income is taxable in the year that the forgiveness or cancellation occurs. The creditor will

With this tried-and-true tax planning technique, you can defer the tax over several years, usually reducing the overall tax bite.

The Tax Planning and Advisory Proposal templates which integrate into Intuit ProConnect Group’s latest product, Intuit Tax Advisor.

It cost a pretty penny to send your kids to school, but at least the tax law affords some measure of tax relief. Here’s a roundup of five key tax breaks for higher education.

The Internal Revenue Service mistakenly published confidential data for 120,000 taxpayers on its website before realizing the error and taking down the data, the Treasury Department said.

AICPA News is a round-up of recent announcements from the American Institute of CPAs and the Association of International CPAs.

Revenue projections also fell, quarter over quarter, from an expected 3.4% growth rate over the next 12 months to 2.6%.