Taxes June 20, 2023
Hunter Biden to Plead Guilty to Tax and Gun Charges
Hunter Biden has been charged with illegally possessing a handgun in 2018 as well as two tax misdemeanors, for failing to file and pay taxes on time in 2017 and 2018.
Accounting June 15, 2023
Avalara Launches Sales Tax Calculator Plugin for ChatGPT
Avalara is the first tax compliance software provider to work with OpenAI to use its protocol to build an integrated plugin for ChatGPT.
Taxes June 15, 2023
TIGTA: IRS Gave Out More Than $10 Billion in Excess Child Tax Credits in 2021
The IRS miscalculated 2021 child tax credit payments for thousands of eligible taxpayers as of May 5, 2022, TIGTA said.
Taxes June 15, 2023
Ins and Outs of the Home Sale Exclusion
Here are several key points about the home sale exclusion that you should know about before you hand over the keys.
Taxes June 15, 2023
Key In on Improved Home Energy Credits
The IRS is reminding taxpayers that they may qualify for expanded home energy credits in 2023 (IR-2023-97, 5/4/23) There are two types of credits.
Taxes June 14, 2023
IRS, Treasury Issue Proposed Guidance on Monetization Options for Energy Tax Credits
The proposed rules released on June 14 focus on elective pay and transferability of credits under the Inflation Reduction Act.
Taxes June 14, 2023
IRS Clarifies Elective Payment Rules for Semiconductor Chips Tax Credit
The CHIPS Act allows eligible taxpayers to make an election to treat the credit as a payment against federal income tax.
Taxes June 14, 2023
AICPA Supports Changing Requirements to Form 1099-K Reporting Threshold
For many months, the American Institute of CPAs (AICPA) has expressed its concerns regarding the lowered Form 1099-K reporting threshold
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Taxes June 13, 2023
Foreign Intrigue on Taxable Income
A self-employed individual may claim the foreign earned income exclusion on foreign earned self-employment income.
Sales Tax June 13, 2023
Survey Finds 2018 Wayfair Decision Adds Costs for Consumers
Nearly half of U.S. and U.K. businesses surveyed have increased prices for customers due to online sales tax complexity resulting from the Wayfair decision five years ago.
Taxes June 12, 2023
Trump’s Suit Against Niece Over NY Times Story About His Taxes Advances
A judge on Friday rejected Mary Trump’s argument that the former president’s lawsuit violated a state law against frivolous litigation.
Taxes June 12, 2023
Corporations Get a Reprieve From the IRS on New CAMT
The IRS waived penalties for corporations that didn't pay their estimated tax liability under the corporate alternative minimum tax.