Taxes
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
Reminder: Deadline for Retirement RMDs is Dec. 31
For 2023, the age at which account owners must start taking required minimum distributions goes up from age 72 to age 73.
U.S. Boosts Wind Power, Sets Oil Production Record
The U.S. is still on track to set a new annual oil production record in 2023. One forecast: 12.4 million barrels per day, just above 2019’s 12.3 million bpd.
IRS Issues Guidance on Tax Credit for Clean Hydrogen Production
The Inflation Reduction Act (IRA) of 2022 provides a production credit for each kilogram of qualified clean hydrogen produced by a taxpayer at a qualified clean hydrogen production facility.
Georgia Tax Preparer Gets 2 Years in Prison for Tax Evasion
The professional tax preparer was accused of omitting $1.28 million in income from his own tax returns.
Judge Rules on Michigan Income Tax Cut
A temporary cut to Michigan’s income tax will not be made permanent under a judge’s ruling this week.
IRS Waiving $1 Billion in Back Tax Penalties for More Than 4.7 Million Taxpayers
Just in time for the holidays, the IRS announced a move to help individuals, businesses, and tax-exempt groups that owe back taxes.
A PIG in a Poke – How to Use a Passive Income Generator Strategy
Instead of deals designed to generate losses in the formative years of a limited partnership, a PIG is set up to start churning out income right away.
Increasing Scrutiny on States’ Sales Tax Compliance
While South Dakota v. Wayfair changed the foundation of sales tax more than five years ago, the ripple effects are still as strong.