IRS Says State Issued Stimulus Payments are Not Taxable
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.
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.
The IRS is trying to decide whether aid payments to taxpayers in more than a dozen states should be taxable.
Anyone e-filing Form 1040-X can for the first time select direct deposit and enter their banking info for a faster refund.
The 61 recommendations in the compendium include proposals related to employee benefits, individual income tax, international tax and tax administration, among others.
A Certified Financial Planner provides a summary of the most significant changes in the SECURE Act 2.0.
IRS seeks public comment on proposed Service Industry Tip Compliance Agreement (SITCA) program.
The change made Friday is likely to be the difference between thousands of dollars in consumer discounts.
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.