Taxes February 15, 2023
The CAP program began in 2005 as a way to resolve tax issues through open, cooperative and transparent interactions between the IRS and taxpayers before the filing of a return.
Taxes February 15, 2023
Under the Internal Revenue Code, the rate of interest is determined on a quarterly basis. For taxpayers other than corporations, the overpayment and underpayment rate is the federal short-term rate plus 3 percentage points.
Taxes February 14, 2023
The annotations show the locations he supposedly visited in connection with either business. For several reasons, the Tax Court didn’t find this evidence credible.
Taxes February 13, 2023
For 2023, a participating employee can contribute up to $22,500 in elective deferrals or up to $30,000 if they are age 50 or over.
Taxes February 13, 2023
To leverage a 1031 exchange, an investor has to ensure the income from a real estate investment property sale is reinvested (or “exchanged”) in like-kind property.
Taxes February 13, 2023
The IRS has determined that in the interest of sound tax administration and other factors, taxpayers in many states will not need to report these payments on their 2022 tax returns.
Accounting February 9, 2023
“Anything that was well documented and under $4,000 our representative approved on the spot,” Southwest Airlines Chief Operating Officer Andrew Watterson told reporters.
Taxes February 8, 2023
The 61 recommendations in the compendium include proposals related to employee benefits, individual income tax, international tax and tax administration, among others.
Taxes February 6, 2023
The agency previously said it was working on guidance for 19 states that provided refunds of some form in 2022.
Taxes February 6, 2023
The change made Friday is likely to be the difference between thousands of dollars in consumer discounts.
Taxes February 3, 2023
Certain tax credits for children and dependents have been reduced, and the charitable deduction some taxpayers took advantage of during the pandemic years is no longer so easy to claim.
Accounting February 3, 2023
According to the indictment, Rendon submitted fabricated loan applications to lenders in New Jersey and Idaho by falsifying her company’s revenue, payroll, employees ...