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 12, 2024
Some States Are Looking to Abolish Property Taxes Entirely
As property values surge, some state lawmakers are hoping to end the property tax. Doing so would not be cheap or easy.
Taxes March 12, 2024
Capital Gains Hikes at the Center of Biden’s Second-Term Tax Agenda
The president's budget proposal is the opening round of a looming tax fight set to consume Washington next year.
Accounting March 8, 2024
AICPA Provides Recommendations for Clarification on Proposed Digital Asset Transactions Regulations
The AICPA recommends that Treasury and the IRS clarify the meaning of important terms and certain examples within the section 6045 proposed regulations.
Taxes March 8, 2024
The Tax Blotter – March 6, 2024
The Tax Blotter is a summary of recent tax news, rulings and legislation.
Taxes March 7, 2024
Tax Expert at Wolters Kluwer Gives Opinion on Biden 2024 State of the Union Address
President Biden announced a proposal to deny corporations a tax deduction when they pay more than $1 million to any employee. He also described his plans to bump the corporate tax rate up to 28 percent, but said taxes won’t be raised for any Americans making less than $400,000 a year.
IRS March 7, 2024
Recommendations Sought For Upcoming IRS Priority Guidance Plan
The projects included in the plan would be priorities for the Treasury and IRS to work on from July 1, 2024, through June 30, 2025.
Taxes March 7, 2024
IRS Tries to Clear Up Confusion on Medical Expenses
Expenditures for general health and wellness aren't considered medical expenses, regardless of some claims to the contrary.
Taxes March 6, 2024
Former Illinois State Senator Gets 3 Years Probation for Tax Evasion
He also underreported income on returns for tax years 2012 through 2015, causing the IRS and Illinois Department of Revenue a total of about $83,000 in lost tax revenue, according to his plea agreement with prosecutors.
Taxes March 6, 2024
Free File Program Filings Up Nearly 10% This Tax Season, IRS Says
As of Feb. 24, 943,000 taxpayers had filed returns using Free File, up from last year's comparable period of 860,000 returns filed.
Taxes March 5, 2024
IRS: Time is Running Out to Claim COVID Stimulus Credit
The refundable Recovery Rebate Credit is aimed at taxpayers who did not get one or more of their pandemic-era stimulus checks.
Taxes March 1, 2024
IRS to Focus on High Income Non-Tax Filers: Some Have Million Dollar Incomes
The mailings include more than 25,000 to those with more than $1 million in income, and over 100,000 to people with incomes between $400,000 and $1 million between tax years 2017 and 2021.
Taxes March 1, 2024
IRS Offers Myth Busters About Form 1099-K
With a lot of unreliable information on social media, the IRS has issued list of myths and facts about 1099-K forms to help taxpayers with filing: what to do with Form 1099-K.