Taxes November 30, 2022
Treasury Releases Labor Rules for Clean Energy Tax Credits
The Inflation Reduction Act invests $369 billion toward tackling climate change through clean energy initiatives.
Taxes November 29, 2022
IRS Increases Interest Rates for Q1 2023
For individuals, the rate for overpayments and underpayments will be 7% per year, up from 6%.
Taxes November 29, 2022
IRS: Don’t Fall for Scams on Giving Tuesday
Be aware of scammers using fake charities to commit fraud on well-intentioned donors.
Taxes November 28, 2022
The Tax Blotter – Nov. 2022
The Tax Blotter is a round-up of recent tax news and rulings.
Taxes November 28, 2022
Home Sale Gain Exclusion When a Taxpayer Remarries
Under Section 121 of the Internal Revenue Code, you may be able to exclude most, if not all, of your gain from tax when you finally sell the home.
Taxes November 23, 2022
100% Bonus Depreciation for Aircraft Purchases About to End
For the last five years, businesses have been able to use bonus depreciation to expense 100 percent of qualified property, including big-ticket purchases like business aircraft.
Taxes November 23, 2022
Tax Court Decides “He Said, She Said” Case
Generally, the IRS has three years from the later of the time your tax return was filed or its due date to review the return and assess tax.
Taxes November 22, 2022
Trump Accountant Testifies on Taxes: Shocked by Christmas Bonuses
Accountant: "I probably would’ve had a heart attack,” Bender said on cross-examination.
Taxes November 22, 2022
Warren, Shaheen Urge IRS to Probe TurboTax
Senators claim TurboTax has sent refunds to bank accounts opened without the permission of taxpayers.
Taxes November 18, 2022
Zelle Users Are Circumventing an IRS Tax Rule to Their Advantage
Zelle says the new IRS 1099-K reporting rules for third-party payment processors do not apply to them.
Digital Currency November 18, 2022
FTX Users Can’t Count on Help From the IRS
When market investors suffer losses, they’re often eligible for a tax write-off to soften the blow. FTX users won’t be so lucky.
Taxes November 14, 2022
Accountant Who Cheated IRS Will Serve Time in Federal Prison
Michael Goldner of Paoli, PA, was sentenced to 40 months in prison and three years of supervised release.