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The Next Tax Deadline is May 15 for Tax-Exempt Orgs
While the April 15 tax deadline for most Americans to file their individual annual tax returns has passed, there are several deadlines each year, some for individuals, businesses, nonprofits and even organizations that are tax-exempt.
IRS Issues FAQs on Disaster Relief For Retirement Plans and IRAs
The FAQs are intended to assist individuals, employers, and retirement plan and IRA service providers, the IRS said.
More Rich Americans Will Soon Be Hit With an IRS Audit, Werfel Pledges
But the IRS chief emphasized once again that audit rates won't increase for small businesses and taxpayers making under $400,000.
EV Makers Win Two-Year Extension to Qualify for Tax Credits
The Biden administration on May 3 gave carmakers a partial reprieve in finalizing electric vehicle tax credit rules.
AICPA Provides Comments on the Tax Classification of Purpose Trusts
The recommendations would simplify filing for taxpayers and practitioners and will reduce the administrative burden on the IRS.
IRS Provides Safe Harbors For the Clean Aviation Fuel Credit
New guidance touches on the role farmers will play in the production of clean jet fuels and reducing emissions in the aviation industry.
IRS: Applications For TCE and VITA Grants Can Be Submitted Through End of May
The funding helps organizations provide free tax assistance to elderly and low-income taxpayers for up to three years.
‘Bitcoin Jesus’ Charged With Evading Nearly $50 Million in Taxes
Roger Ver was charged with mail fraud, tax evasion, and filing false returns in order to avoid paying at least $48 million in U.S. taxes.