Taxes

However, Treasury warned that if $20 billion is cut from the IRS’s funding allotment, it would reduce revenues by over $100 billion.

The SALT professionals at Grant Thornton have compiled it's top predictions for what it expects to see in the coming year in this volatile space.

Collecting, validating, storing, and renewing exemption certificates is a challenge for many tax and finance departments.

The top GOP member of the Senate Finance Committee has signaled he won’t support the family and business tax break bill as-is.

Notably, the AICPA is asking Treasury and the IRS to postpone the effective date of the final regulations to give taxpayers more time to adapt and comply with the new rules.

Democrats back lifting deductions cap but argue Republican-backed legislation is an election-year gift.

In most cases, early tax filers who are a due a refund can often see the refund as early as mid- or late February if they have it direct deposited. That’s without an expensive “tax refund loan” or other similar product.

If the rental period lasts 14 days or less—in other words no more than two weeks—you don’t have to report any of the taxable income to the IRS On the other side of the coin, the rental expenses aren’t tax-deductible, either.