IRS

Taxes April 21, 2023 

Thanks to last year’s Inflation Reduction Act, the IRS got a funding boost that enabled it to improve taxpayer service.

Taxes April 21, 2023 

The bill would expand eligible uses of 529 savings plans to include fees and expenses required to obtain or maintain recognized post-secondary credentials.

Taxes April 21, 2023 

TD 9032 describes the procedures and requirements for making an election to have certain revocable trusts treated and taxed as part of an estate.

Isaac M. O'Bannon

Taxes April 19, 2023 

Interacting with the agency should be less painful over the next decade as the IRS’s $80 billion spending plan is implemented.

Small Business April 18, 2023 

Before launching a campaign, make sure you understand all of the tax implications of crowdfunding.

Taxes April 18, 2023 

While IRS customer service is getting better, the agency is prone to stumble, particularly when technology is involved.

Taxes April 17, 2023 

GM, Tesla, and Ford all have at least one EV that qualifies, while Ford and Stellantis have one eligible plug-in hybrid model.

Taxes April 17, 2023 

The Tax Court denied net operating loss carryforwards for a CPA who operated several Fuddruckers restaurants.

Ken Berry, JD

Taxes April 13, 2023 

The favorable tax treatment isn’t automatic. To avoid current tax, you and the qualified intermediary must sign a "Qualified Exchange Accommodation Agreement."

Ken Berry, JD

Taxes April 12, 2023 

Taxpayers usually have three years to file and claim their tax refunds. If they don't file within three years, the money becomes the property of the U.S. Treasury.

Isaac M. O'Bannon

Taxes April 12, 2023 

if you can’t present clear and convincing evidence that the loan is tied to a business transaction, the transaction may be deemed to be a gift.

Ken Berry, JD

Taxes April 12, 2023 

Depending on the circumstances, it may be better to bypass the exclusion on a current sale and save it for the time when it will do you more tax good.

Ken Berry, JD