Taxes May 22, 2023
As the IRS plans to prioritize providing additional guidance as stated in the IRS Strategic Operating Plan, the AICPA encourages the IRS to issue guidance on recommended areas.
Taxes May 18, 2023
Expect to see a bigger push for digital automation. This is not a new phenomenon — but rather one that will be recognized for the true advantage it brings.
Taxes May 17, 2023
Deena Vang Lee, a former IRS employee in Fresno, CA, and private tax preparer, received four years and six months in prison.
Taxes May 16, 2023
Adhere strictly to the substantiation rules for charitable donations. A deduction worth thousands of tax dollars could be at stake.
Taxes May 14, 2023
Domestic content is generally defined as steel, iron or manufactured products that are manufactured or produced in the United States.
Taxes May 12, 2023
This practice – known as the “mailbox rule” – already applies to payments and documents sent to the IRS through traditional mail.
Taxes May 11, 2023
The Inflation Reduction Act includes credits for taxpayers who make qualifying energy improvements to their home.
Taxes May 11, 2023
The five men and one woman were charged on May 10 with conspiracy to commit bank fraud and face up to 30 years in prison.
May 11, 2023
Benkoil admitted his conduct resulted in a tax loss to the IRS of nearly $2.5 million and has agreed to pay full restitution.
Taxes May 10, 2023
A 529 plan account owner can roll over up to $35,000 in unused funds to a Roth IRA without paying any tax, beginning in 2024.
Taxes May 10, 2023
Under the new state law, the business subject to the corporation business tax will be allowed to deduct from income all ordinary expenses associated with managing a licensed cannabis business.
Digital Currency May 9, 2023
A filing from the FTX founder’s legal team argues 10 charges in Bankman-Fried’s 13-count indictment should be dismissed.