Taxes January 5, 2023
Here Are IRS-CI’s Top 10 Cases of 2022
These cases include IRS Criminal Investigation’s most prominent and high-profile investigations in the past year.
Taxes January 3, 2023
IRS, Treasury Update Guidance on Accounting Methods for Specified R&E Expenditures
Revenue Procedure 2023-11 outlines how companies should comply with changes made by the Tax Cuts and Jobs Act.
Taxes January 3, 2023
New Retirement Rule Delaying Withdrawals Could Bite
There are some potential advantages for wealthy retirees, but they don’t come without potential trade-offs.
Taxes December 30, 2022
Do You Need A Charitable Appraisal? 2023 Tax Tips
The appraisal rules don’t apply to donations of publicly traded securities. Use the quoted market price to determine the FMV of the securities. This takes a lot of the guesswork out of the deduction.
Taxes December 30, 2022
Adoption Tax Credit Provides Valuable Benefit
The adoption credit is indexed annually by the IRS. Due to the rising inflation of late, the figures have jumped dramatically.
Taxes December 30, 2022
IRS 2023 Mileage Rate Rises to 65.5 Cents Per Mile
65.5 cents per mile driven for business use, up 3 cents from the midyear increase setting the rate for the second half of 2022.
Taxes December 30, 2022
Trump Tax Returns’ Release Might Start Tit-for-Tat Battle in Congress, GOP Aide Says
Republicans will face pressure to retaliate by publishing the tax records of Democrats and their allies, the aide said.
Taxes December 30, 2022
Six Years of Donald Trump’s Tax Returns Released
The Trumps paid $750 or less in federal income tax in 2016 and 2017, and zero in 2020, according to the returns released by the House Ways and Means Committee...
Taxes December 29, 2022
New EV Tax Credits OK for Leased Vehicles, Treasury Guidance Says
It goes against the wishes of Sen. Joe Manchin, who asked Treasury not to allow leased vehicles to qualify.
Taxes December 28, 2022
IRS Updates FAQs on Form 1099-K
The IRS is treating calendar-year 2022 as a transition year for the reduced reporting threshold of more than $600.
Taxes December 27, 2022
IRS and Treasury Release Guidance on Corporate Stock Repurchase Excise Tax
Notice 2023-2 provides interim guidance regarding this tax provision in the Inflation Reduction Act.
Taxes December 27, 2022
IRS, Treasury Issue Interim Guidance for New Corporate Alternative Minimum Tax
The corporate alternative minimum tax was created by the Inflation Reduction Act enacted last summer.