Taxes March 20, 2025
The Trump administration acknowledged on March 19 in federal court that it is seeking confidential information from the IRS on immigrants, which could result in the deportation of undocumented immigrants.
Taxes March 19, 2025
Cryptocurrency gains, remote work tax implications, and NFT reporting rules are among the many topics taxpayers are asking accountants questions about this tax season, according to new data from expert platform JustAnswer.
Taxes March 18, 2025
The Michigan House on Tuesday voted 65-43 to lower the state's income tax rate from 4.25% to 4.05%, with several Democratic lawmakers joining Republicans in support of the measure.
Taxes March 18, 2025
A new survey from CNET reveals that 44% of tax filers have anxieties and fears about filing their taxes, with Gen Z and millennials freaking out the most at 51% and 48%, respectively.
Tax Planning March 18, 2025
You will die one day. What if it happens before you retire? CPAs should have a formal succession plan that addresses how the sale or termination of the practice (retirement, incapacity, or death) will be handled.
Taxes March 18, 2025
An Illinois doctor has pleaded guilty to tax evasion for hiding assets and lying to the IRS about his ability to pay approximately $1.6 million in taxes, penalties, and interest.
Taxes March 17, 2025
A new poll from marketing research firm Savanta reveals that a strong majority of Americans want tax reform, with 70% saying they prefer a simpler tax code instead of the current overcomplicated and stressful U.S. tax system.
Taxes March 17, 2025
In total, the agency has sent out more than 43.6 million refunds to taxpayers, up 1.5% compared to March 8, 2024. The average refund amount sits at $3,324—5.7% higher than last year.
Taxes March 17, 2025
The IRS has extended the filing deadline to Nov. 3, 2025, for individuals and businesses in six West Virginia counties that were affected by severe storms, flooding, landslides, and mudslides that began on Feb. 15.
Taxes March 15, 2025
President Donald Trump signed a stopgap funding bill that will keep the government open for the remainder of the fiscal year, paving the way for Republican lawmakers to pivot to signature border and tax bills they seek to pass in the coming months.
Taxes March 14, 2025
In a Tuesday night CBS interview with U.S. Commerce Secretary Howard Lutnick, the federal official stated President Trump hopes to eliminate income taxes for people who earn less than $150,000 a year.
Taxes March 14, 2025
President Trump's pick to lead the Centers for Medicare and Medicaid Services, Dr. Mehmet Oz, is set to have his confirmation hearing before senators on Friday, a day after reports surfaced that he may have “significantly” underpaid Social Security and Medicare taxes in recent years.