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U.S. Consumer Inflation Outlook Fell Slightly, Fed Survey Shows
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EY Acquires HR Tech Consulting Firm Jubilant
Tax Court: No Tax Exemption for This Legal Settlement
The taxpayer failed to report any of the $700,000 payment as taxable income on his return. So the IRS stepped in and the case ended up in the Tax Court.
IRS Extends Free File Program Through 2029
The five-year extension agreement between the IRS and Free File Inc. will continue the program through October 2029.
Tax Professionals Should Use the Most Current Version of OIC Booklet, IRS Says
The most recent version of Form 656-B, Offer in Compromise Booklet, was released by the IRS in April.
Cleared for Takeoff? Tax Credits Provide Runway for Cleaner Jet Fuel
Federal tax breaks aim to boost sustainable jet fuel production to curb emissions from commercial planes and meet climate targets.
IRS Adds Security Protections for CAF Program, Transcript Requests
The risk a compromised CAF number presents to practitioners and taxpayers is prompting these additional security measures.
IRS: No Change in Tax Interest Rates for Q3 2024
Starting on July 1, the rate for overpayments and underpayments for individuals will be 8% per year, compounded daily.
IRS Increases HSA Contribution Limits for 2025
Beginning in January, you'll be able to contribute more to your health savings account, based on the IRS's latest inflation adjustments.
Ledgible Program Assesses a Company’s Readiness for 1099-DA Reporting
The new program follows the release of the draft Form 1099-DA for digital asset transaction reporting by the IRS last month.