Taxes
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More Rich Americans Will Soon Be Hit With an IRS Audit, Werfel Pledges
EV Makers Win Two-Year Extension to Qualify for Tax Credits
2024 Guide to State Sales Tax Holidays
Hawaii to Offer Tax Amnesty to Switch Short Term Rentals to Long Term
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.
2024 Guide to State Sales Tax Holidays
There were about 45 sales tax holidays in 24 states in 2023 and could be even more than that in 2024.
Hawaii to Offer Tax Amnesty to Switch Short Term Rentals to Long Term
Could tax incentives geared toward turning Hawaii short-term rentals (STRs) into long-term housing increase housing stock and decrease rents for Hawaiians? Governor Josh Green thinks so.
Disaster Preparation: IRS Reminds to Safeguard Your Info
Original documents such as tax returns, Social Security cards, marriage certificates, birth certificates and land ownership documents need to be secured in a waterproof container in a safe space.
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.