Taxes
Latest News
Professionals on the Move – Nov. 2024
Top Hyundai Exec Says EVs Are ‘the Future’ Even if Trump Kills Tax Credit
3 Reasons to Involve Your Children in Small Business Saturday
Review of Blue J – The Accounting Technology Lab Podcast – Nov. 2024
4 Key Takeaways From the National Taxpayer Advocate’s Mid-Year Report to Congress
While the 2024 filing season generally ran smoothly, there are still several challenges impacting taxpayers, Erin Collins says.
IRS Says Sorry to Ken Griffin for Tax Data Leak
The IRS apologized to the billionaire founder of Citadel for failing to protect his tax information from being leaked to the press.
Number of the Day: $5.7 Billion
As of March 31, the IRS has spent $5.7 billion, or 10%, of the $57.8 billion it will receive from the Inflation Reduction Act, TIGTA says.
Trump’s Plan to Stop Taxing Tips Could Cost Up to $250 Billion
A bill introduced by Republican lawmakers would ax federal and employment taxes on tips, but doing so could come at a price.
Majority of Outstanding High-Risk ERC Claims Expected to Be Rejected
The review involved months of digitizing information and analyzing data since last September to assess a group of more than 1 million Employee Retention Credit (ERC) claims representing more than $86 billion filed amid aggressive marketing last year.
Florida Fisherman Pleads Guilty to Evading $400K in Taxes
He is scheduled to be sentenced on Sept. 17 and faces a maximum sentence of five years in prison, a period of supervised release, restitution and monetary penalties.
IRS Offers Guidance on Exceptions to Tax on Early Emergency Retirement Distributions
A taxpayer is permitted to receive a distribution from an applicable eligible retirement plan to meet unforeseeable or immediate financial needs relating to necessary personal or family emergency expenses.
House GOP Shifts Message on 2017 Tax Cuts
Cost concerns and blue-district GOP issues prompt strategy rethink among Republicans charged with reviewing the expiring provisions.