Taxes

A sales tax holiday is a time when consumers don’t pay sales tax on eligible purchases of certain normally taxable goods. A vacation from sales tax, if you will.

The new rules exclude from the tax credit vehicles that use battery components made by Chinese manufacturers.

Hundreds of IRS-CI employees still had access to TikTok months after the app was banned from all government devices, TIGTA said.

Not everyone who was entitled to an EIP was able to collect the full amount they were owed. Either they didn’t receive the correct amount or they didn’t get a payment at all.

Depending on your situation, you might elect to forgo preferential tax treatment on certain long-term capital gains and qualified dividends in favor of deducting investment interest expenses.

The guidance provides rules for the production of eligible components and sale to unrelated persons, as well as special rules that apply to sales between related persons.

Under the “ordering rules” established under IRS regulations, most of the payout of a nonqualified Roth distribution may be tax-free anyway—maybe even all of it.

The annual gift tax exclusion allows you to gift up to a specified amount to each recipient each year without any gift tax liability.