Taxes December 12, 2022
IRS Lays Out New Rules for Makers, Sellers of Clean Vehicles
The processes in the new guidance are required for vehicles to be eligible for one or more clean vehicle tax credits.
Taxes December 7, 2022
Tax Refunds May Be Smaller in 2023, IRS Warns
The lack of stimulus payments in 2022 will play a key role, according to the IRS.
Taxes December 7, 2022
Psychiatrist Gets 18 Month Prison Sentence for Tax Evasion
The professional failed to pay taxes and filed and caused to be filed with the Internal Revenue Service false and fraudulent tax returns that included false statements ...
Taxes December 6, 2022
Following Tax Court Defeat, IRS is Still After Syndicated Conservation Easements
Proposed regs issued today identify certain syndicated conservation easement transactions as “listed.”
Taxes December 2, 2022
IRS Updates FAQ on Unemployment Compensation Exclusion
The American Rescue Plan Act of 2021 provided relief to those receiving unemployment compensation in 2020.
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.