IRS
Latest News
An Increase in Customer Theft is Increasing Restaurant Prices
IRS Shares Five New Warning Signs of Incorrect ERC Claims
‘Unpredictable’ Election Clouds Tax and Economic Policy View
Sanders May Bring His Populist Brand to Powerful Senate Finance Committee
South Carolinians Get Tax Relief Following Tropical Storm Idalia
The IRS has granted tax deadline relief to South Carolina taxpayers impacted by Tropical Storm Idalia.
IRS Releases Initial Guidance on Section 174 Amortization
Notice 2023-63 includes interim rules on the capitalization and amortization of specified research or experimental expenditures.
4 Ways to Deduct Commuting Costs from Taxes
To qualify for transportation deductions, you must be traveling away from your tax home to a business location.
Intuit Barred from Saying TurboTax is “Free,” Says Federal Judge
A judge has ruled that Intuit Inc., the maker of the popular TurboTax tax filing software, “engaged in deceptive advertising in violation of Section 5 of the FTC Act” and deceived consumers when it ran ads for “free” tax products and services for which many consumers were ineligible.
Year-End Moves for Flexible Spending Accounts
If your company doesn’t offer either option, try to empty out your account before January 1.
IRS is Using AI to Identify Wealthy Tax Cheats for Audit
The agency is opening examinations of 75 of the largest partnerships in the U.S. that on average have over $10 billion in assets.
How to Avoid the “BIG” Tax on S Corp Conversions
The BIG tax often catches business owners by surprise. Fortunately, however, you may be able to avoid adverse tax consequences with some astute planning.
Are There Conflicts of Interest Between the IRS and Accounting Firms?
In a report, TIGTA identified employees moving between large accounting firms and the IRS, often referred to as the “revolving door.”