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Taxes March 28, 2024
Dividing a 401(k) in Divorce
Note that a QDRO may be used for qualified plans, like 401(k) or pension plans, but this option isn’t available for IRAs. IRAs are subject to other rules.
Taxes November 29, 2023
5 Ways to Gift Yourself Tax Savings This Holiday Season
The Illinois CPA Society offers five money moves to make before the end of the year to create some tax-time savings now and in the year ahead.
Taxes November 28, 2023
Survey Shows Proposed 1099-K Rules Would Hurt Sellers
As a result of these proposed changes, 83% of marketplaces anticipate sellers to leave their platforms, and a majority (55%) of marketplace sellers and gig workers are reconsidering online selling and on-demand work.
Accounting November 7, 2023
Mark Cuban Wants Casino Gambling Resorts in Texas
The Dallas billionaire and ABC’s Shark Tank star has his eyes on a new arena for the Dallas Mavericks if Texas lawmakers would consider allowing resort-style gambling.
Taxes October 16, 2023
Oct. 16, 2023, is Deadline for Taxpayers with an Extension
For 2023, however, many taxpayers who had received an extension to file, also later faced various forms of natural disasters for which the IRS has granted additional time to file.
Income Tax October 11, 2023
Former CFO of Russian Natural Gas Firm Gets 7 Years in U.S. Prison for Tax Crimes
Gyetvay was convicted of concealing his ownership and control over substantial offshore assets and did not file tax returns or pay taxes on millions of dollars of income.
Taxes October 6, 2023
Treasury Releases Guidance for New EV Tax Credits
The consumer discount is one of the significant changes to electric vehicle tax credits implemented under the Inflation Reduction Act.
Taxes October 5, 2023
Report Claims Giuliani Owes Nearly $550,000 in Back Taxes to IRS
According to a report, former New York City mayor Rudolph Giuliani owes $549,435.26 in unpaid taxes and, as a result, the agency has placed a tax lien on a condo he owns in south Florida.
Taxes October 5, 2023
Be on the Lookout for Art Donation Tax Scams, IRS Says
Taxpayers, particularly wealthy filers, were warned Thursday about scams involving exaggerated art donation deductions.
Taxes October 5, 2023
IRS Cuts PTIN Fees for 2024
The IRS is slashing the costs for paid tax return preparers to renew their preparer tax identification numbers in 2024 by nearly 36%.
Taxes October 3, 2023
Three Complex Tax Issues Businesses are Facing Now
There are a myriad of challenges and changes in the tax codes affecting their business clients each tax season.
Taxes October 2, 2023
IRS Adds Features to Tax Pro Account for Managing Client Authorizations
New additions to Tax Pro Account, available through IRS.gov, will help practitioners manage their active client authorizations on file with the Centralized Authorization File (CAF) database.