Taxes
Latest News
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
Accountant Gets Jail Time For Charging $3 Million on New Jersey Employer’s Credit Card
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Count LTCI Premiums for Medical Deduction
You can add the cost of premiums to the amount you need to surpass the deduction threshold for medical expenses. But the IRS strictly limits the amount you can write off for LTCI insurance each year.
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Supreme Court Grants Trump Delay on Release of Tax Records to Congress
Chief Justice John Roberts paused a long legal battle over House Ways and Means’ access to Trump’s tax records.
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Biden to Call on Congress to Mull Windfall Tax on Excessive Oil Profits
Exxon Mobil, Chevron and Shell reported record profits last quarter, even as gas prices remained high.
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Trump Asks U.S. Supreme Court to Block Disclosure of His Tax Returns
Ex-president is trying to stop the IRS from giving the House Ways and Means panel six years' worth of his tax returns.
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Tax Gap Continues to Get Worse, IRS Says
An analysis of tax years 2014 through 2016 showed the estimated gross tax gap increased to $496 billion.
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AICPA News – Nov. 1, 2022
AICPA News is a round-up of recent announcements from the American Institute of CPAs (AICPA).
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How to Secure a Deduction for a Medical Dependent
The tax law also allows you to write off amounts paid for a dependent such as an elderly relative.
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April 18 is IRS Tax Deadline for 2023
The deadline for filing federal income tax returns (generally Form 1040), will be Tuesday, April 18, 2023, and most states usually follow the same calendar for state income tax returns.