Income Tax
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IRS Extends RMD Tax Relief for Inherited IRAs
This relief was provided to certain RMDs in 2021, 2022, and 2023, and is being extended in Notice 2024-35 to 2024.
IRS Touts Strong, More Efficient 2024 Tax Season
It’s Tax Day, so there’s no better time for the IRS to pat itself on the back for a job well done as filing season ends for most Americans.
IRS Says Work-Life Referral Services Are a De Minimis Fringe Benefit
The use of such referral and information services would be excluded from employees' taxable gross income, according to the IRS.
Bidens Paid 23.7% Effective Federal Tax Rate in 2023
President Joe Biden and first lady Jill Biden paid $146,629 in federal income taxes on a combined $619,976 in AGI last year.
Retirees Are Facing Sizable Tax Bills Due to Fraud
A new Senate committee report sheds light on how older adult scam victims end up with big tax bills and lost retirement savings.
Tax Refunds Dropped by 3.3 Percent in 2024
Fewer U.S. taxpayers have received a refund this year in the run-up to tax day compared to 2023, signaling some consumer spending may be disrupted.
Florida Lawyer Gets 8 Years in Prison for Fraudulent Charity Tax Claims
A Florida attorney was sentenced today to eight years in prison for conspiring to defraud the United States and tax evasion.
4 Key Crypto Tax Tips for Entrepreneurs and Digital Investors
By taking the right steps, it's possible to avoid overpaying taxes and enjoy tax benefits.