Taxes
Latest News
Report Says Undocumented Immigrants in U.S. Pay Nearly $100 Billion in Taxes
Emburse and Finexio Partner for B2B Payments
How Generative AI Will Disrupt Accounting
Mid-Market Optimism Hits Pre-Covid Record Highs
8 Tips to Reduce the Risk of Identity Theft
The Internal Revenue Service has issued a filing season alert warning taxpayers to watch out for identity theft at tax time, one of the year’s “Dirty Dozen” tax scams. The IRS continues to aggressively pursue the criminals that file fraudulent returns usi
National Average Sales Tax at 5.45%, While 201 Localities Changed Indirect Tax Policies
While the average U.S. sales tax rate remained unchanged in the fourth quarter, the number of indirect tax changes increased from the previous quarter, according to the latest ONESOURCE Indirect Tax report from Thomson Reuters.
There’s Still Some Juice Left in the Residential Energy Tax Credit for 2014 Returns
It’s not quite “lights out” yet for the residential energy credit. This tax break for homeowners, which has expired and been renewed numerous times in the past –sometimes with modifications -- was extended once again by the Tax Increase Prevention Act of
3 Ways Obamacare Affects Income Tax Returns
Unless you’ve been way out of touch, you probably know that a key part of the Affordable Care Act (ACA), aka Obamacare, requires that taxpayers have qualifying health care coverage. Those without will need to qualify for an exemption, or pay a penalty.
Intuit Partners with Stripe to Simplify Taxes for Self-Employed Workers
Intuit has released a new integration with for marketplaces running on the Stripe online payment network. The features will allow “drivers”, "Rabbits" and "campaign creators" of sharing economy companies to automate tax reporting via the ...
R&D Tax Credit Survives Latest Round of Tax Legislation
The research credit is like the cat with nine lives…except it’s more. This credit, which technically expired after 2013, was just reinstated by the Tax Increase Prevention Act (TIPA) retroactive to January 1, 2014. By last count, it’s the 16th time ...
AICPA Urges Congress to Give IRS More Flexibility on Granting Tax Code Section 9100 Relief
The American Institute of CPAs is urging top tax lawmakers in the U.S. Congress and Senate to give the IRS the authority to grant relief in appropriate situations when taxpayers miss a statutory deadline or make an error in making an election.
6 Tips on Gambling and Income Taxes: Don’t Play the IRS for a Sucker
Gambling losses aren’t completely tax-deductible on their own, but you can write off losses up to the amount of your winnings. Those winnings are taxed at ordinary income rates reaching as high as 39.6% on the federal level.