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 December 15, 2023
IRS Provides More Guidance on New Corporate AMT
The corporate AMT imposes a 15% minimum tax on the adjusted financial statement income of large corporations.
Taxes December 14, 2023
IRS Tax Demands Would Take Money From FTX Bankruptcy Victims
U.S. officials will take money away from FTX victims unless a judge rejects the government’s demand for $24 billion in unpaid taxes.
IRS December 14, 2023
IRS Sets Mileage Rate at 67 Cents Per Mile for 2024
The optional standard mileage rate for business use of a vehicle will increase 1.5 cents from 2023, the IRS said on Thursday.
Accounting Standards December 14, 2023
FASB Issues Standard That Enhances Income Tax Disclosures
The ASU improves the transparency of income tax disclosures by requiring (1) consistent categories and greater disaggregation of information in the rate reconciliation and...
IRS December 13, 2023
IRS Chief Lays Out Plans for New Leadership Structure
Expected to occur in early 2024, this is the first leadership reorganization at the tax agency in more than two decades.
Taxes December 13, 2023
Home Energy Credits Under the Inflation Reduction Act
This article covers two home energy tax credits for your individual clients to take advantage of by saving money on their tax returns and conserving energy to help out the environment.
Taxes December 13, 2023
5 Tax Season Tactics to Grow Client Advisory Services
Diversifying with tax-adjacent advisory services can add value to your existing clients, build recurring revenue streams and increase the likelihood of your tax clients returning next season.
Taxes December 13, 2023
What to Know about Tax Savings in the Inflation Reduction Act
Many home and small business owners are looking for energy resilience and security in the face of increasing power outages and skyrocketing energy bills.
IRS December 11, 2023
IRS Wipes Out 20,000 Employee Retention Credit Claims
In September, the IRS pressed pause on the ERC program until at least the end of this year due to a wave of fraudulent claims.
IRS December 11, 2023
IRS Updates FSA Amounts for 2024
Starting next year, employees can contribute up to $3,200 tax-free to a flexible spending account through payroll deduction.
Taxes December 10, 2023
Decoding the Difference: Tax Planning vs. Advisory
Let’s talk through how these two functions differ, and how you as a tax professional can better define them for your clients to create additional revenue streams.
Taxes December 7, 2023
CPA Indicted for $800,000 in Tax Fraud, Claiming Fake Foster Child as Dependent
Jack Lee Oliver of Rivesville, WV, used a foster child he never met to inflate his tax refund, according to the Justice Department.