Taxes November 3, 2022
IRS Seeks Feedback on Soon-to-Be Released Energy Credit Guidance
The comments will help the IRS draft rules most reflective of the needs of taxpayers entitled to claim energy credits.
November 1, 2022
Count LTCI Premiums for Medical Deduction
You can add the cost of premiums to the amount you need to surpass the deduction threshold for medical expenses. But the IRS strictly limits the amount you can write off for LTCI insurance each year.
Taxes November 1, 2022
Supreme Court Grants Trump Delay on Release of Tax Records to Congress
Chief Justice John Roberts paused a long legal battle over House Ways and Means’ access to Trump’s tax records.
Taxes October 31, 2022
Trump Asks U.S. Supreme Court to Block Disclosure of His Tax Returns
Ex-president is trying to stop the IRS from giving the House Ways and Means panel six years' worth of his tax returns.
Taxes October 31, 2022
Tax Gap Continues to Get Worse, IRS Says
An analysis of tax years 2014 through 2016 showed the estimated gross tax gap increased to $496 billion.
Accounting October 31, 2022
AICPA News – Nov. 1, 2022
AICPA News is a round-up of recent announcements from the American Institute of CPAs (AICPA).
Taxes October 28, 2022
Douglas O’Donnell Named Acting IRS Chief
An IRS lifer, Douglas O’Donnell most recently was deputy commissioner for services and enforcement.
Taxes October 27, 2022
IRS Gets Jumpstart on Hiring for Next Tax-Filing Season
The IRS has hired 4,000 new customer service reps to answer phones and provide other services, with more on the way.
Taxes October 19, 2022
IRS Announces Inflation Adjustments, Tax Brackets for 2023
The tax year 2023 adjustments released by the IRS generally apply to tax returns filed in 2024.
October 14, 2022
How IRS Changes Impact the Tax and Accounting Profession
The IRS is about to expand by hiring 87,000 more agents via the newly signed into law Inflation Reduction Act.
October 14, 2022
IRS Sending Letters to 9 Million Americans Still Eligible for Stimulus Payments, EITC, and Child Tax Credits
The IRS is sending letters to more than 9 million individuals and families who appear to qualify for a variety of key tax benefits but did not claim them by filing a ...