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 January 18, 2024
Why Expanding the Child Tax Credit Makes Economic Sense
The two halves of this deal provide the biggest bang for the buck—in terms of reducing poverty and growing the U.S. economy.
Taxes January 16, 2024
Bipartisan Tax Deal Would Expand Credits for Businesses, Children, and Low-Income Housing
Other changes to the credit would include making more of the credit available as a refund and indexing the total credit to inflation starting in 2024.
Taxes January 16, 2024
Hyundai Offers $7,500 Cash Bonus for EVs to Match U.S. Tax Credits
The discounts apply to the Ioniq 5, Ioniq 6, and Kona Electric, and the month-long incentive will last through Jan. 31.
IRS January 16, 2024
IRS Pauses Reporting Requirement on Some Digital Assets Pending New Regulations
Treasury and the IRS intend to issue proposed regulations to provide additional information and procedures for reporting the receipt of digital assets.
Taxes January 16, 2024
Supreme Court Won’t Take Up Washington Capital Gains Tax Challenge
Opponents had argued it was a tax on income, and thus barred by Washington's state constitution.
Income Tax January 15, 2024
The Tax Blotter – Jan. 2024
The Tax Blotter is a round-up of brief news items relating to tax preparation, policy and legislation.
Taxes January 12, 2024
Chief Tax Writers Working to Broaden Appeal of Tentative $70 Billion Package
Concerns from lawmakers run the gamut about what's in the emerging tax pact—and what's been left out.
Taxes January 12, 2024
Estate Planning: The Basics of a Special Needs Trust
A special needs trust is an irrevocable trust that supplements public assistance benefits available to a disabled child. Assets and income can be used to pay for items like travel, education, recreation, rehabilitation and medical expenses that aren’t covered by public assistance.
Taxes January 11, 2024
Colorado’s TABOR Refunds Won’t Be Taxed By the IRS
According to two elected officials, Coloradans won't have to pay federal income taxes on their state refunds this filing season.
Taxes January 10, 2024
Taxpayer Advocate Delivers Annual Report to Congress, Identifies Top 10 Problems with Agency
The report credits the Internal Revenue Service with substantially improving taxpayer services and developing plans to transform the taxpayer experience in the coming years, but it identifies paper processing as an area of continuing weakness.
IRS January 10, 2024
Long IRS Delays in Assisting Identity Theft Victims Are ‘Unconscionable,’ National Taxpayer Advocate Says
Nearly 500,000 taxpayers with cases pending at the IRS waited almost 19 months for their identity theft issues to be resolved.
Taxes January 10, 2024
Tax Tips for Accountants With Gambling Clients
With millions trying their luck, complex tax rules for reporting and deducting gambling winnings and losses present new challenges for taxpayers.