Taxes February 13, 2026
Tax Court Slams Brakes on Charitable Deduction
The Tax Court immediately nixed the deduction because of the inadequate substantiation and the lack of any appraisal for high-income items.
Taxes March 20, 2024
Warren Reintroduces ‘Ultra-Millionaire’ Tax Legislation
The tax, which would impact the top 0.05% of the nation’s households, would bring in $3 trillion in revenue over 10 years.
Taxes March 19, 2024
Former California Tax Preparer Gets 10 Years For Tax Fraud That Targeted 13 States
Stephen Jake McGonigle, 66, was ordered to pay the $1.2 million in restitution that he took from victims in the scheme.
Taxes March 18, 2024
Tax Law: These TCJA Provisions Will Expire Soon
The nation’s lawmakers may allow these provisions to expire as written into the TCJA, extend them indefinitely, for a period of time or even permanently, or otherwise modify them.
Taxes March 15, 2024
IRS Offers Special Resources Pages in 21 Languages
The agency's multilingual efforts are a part of its Strategic Operating Plan, which has received additional funding since the enactment of the Inflation Reduction Act.
Taxes March 15, 2024
IRS Says March 22 is Deadline to Resolve Questionable ERC Claims
The Internal Revenue Service has renewed its message for businesses to review the Employee Retention Credit guidelines to avoid future compliance action for improper claims.
Taxes March 14, 2024
Money Mule Networks Are on IRS Criminal Investigation’s Radar
Money mules are people who, at someone else’s direction, receive and move money obtained from victims of fraud.
Taxes March 13, 2024
Louisiana Doctor Gets 4 Years in Prison for Tax Evasion
Dr. Melissa Rose Barrett, of Baton Rouge, owed the IRS approximately $1.6 million in income taxes.
Taxes March 13, 2024
AICPA Asks IRS for Guidance on Excess Business Losses
IRC Section 461(l) disallows EBLs for taxpayers other than C corporations for tax years beginning after 2020 and before 2029.
Taxes March 13, 2024
IRS Names New Chief of Criminal Investigations
Guy Ficco will oversee a worldwide staff of more than 3,200 Criminal Investigation (CI) employees, including 2,200 special agents who investigate crimes involving tax, money laundering, public corruption, human trafficking, drug trafficking, cybercrime and terrorism-financing.
Taxes March 12, 2024
Why Businesses Shouldn’t Rely on AI-Powered Tax Prep Advice
A Washington Post investigation found TurboTax's and H&R Block's AI tools are not up to snuff.
Taxes March 12, 2024
IRS Direct File is Now Officially Open for Use in 12 States
The IRS moved the Direct File pilot out of the testing phase, allowing 19 million eligible taxpayers to use the free filing software.
Taxes March 12, 2024
Fewer People Are Getting Tax Refunds This Year, IRS Stats Show
Compared with a similar point in the tax season the previous year, there have been nearly 6 million fewer refunds, according to the IRS.