The SSA announced that the maximum amount of earnings subject to the Social Security tax will increase by more than 7% in 2017, after remaining flat in 2016.
The new rules are part of the Treasury Department’s larger effort to curb corporate inversions.
A class action lawsuit currently pending in a federal district court includes in its class of plaintiffs all tax return preparers who obtained or renewed a PTIN after Sept. 30, 2010.
Legislation excluding prize money earned by Olympians and Paralympians from gross income was signed into law.
Here’s how preparers can help thwart identity thieves.
The Third Circuit reverses the Tax Court on accrual-basis retailer's customer reward program.
The websites had no financial purpose beyond gambling and were not financial agencies within the scope of the reporting requirement, the Ninth Circuit holds.
Form 8976 notifying of intent to operate must be filed within 60 days of an organization's formation.
Professional status allows deduction of ordinary and necessary business expenses.
Despite shorter average wait times this year, using the Practitioner Priority Service can still be an ordeal, surveys suggest.
This article takes a look at the Tax Reform Act of 1986, 30 years later, as a jumping off point for tax reform today.
The collapse was caused by progressive deterioration, not an identifiable event of a sudden, unexpected, or unusual nature, the Tax Court holds.
The taxpayer's involvement in her husband's company gave her knowledge or reason to know of tax underpayments, the Tax Court holds.
The regulations conform with recent law changes on qualified tuition and related expenses for schools and taxpayers.
Sec. 83(b) election statement is no longer required with return ... IRS acquiesces to full mortgage interest deduction per individual co-owner
The IRS removed a prohibition on making a qualified terminable interest property (QTIP) election when the election would have been null and void because the estate had a zero estate tax liability.
The IRS issued its annual updates of per-diem rates for use in substantiating certain business expenses taxpayers incur when traveling away from home on or after Oct. 1.
Under legislation enacted last year, the IRS is required to use private debt collection agencies to collect outstanding inactive tax liabilities.
The IRS announced that beginning in late October all e-services users will be subject to a strengthened identity protection process, which, for existing users, requires re-registering.
The IRS issued an alert to taxpayers not to respond to the latest tax fraud scheme, an emailed CP2000 notice claiming to be related to an Affordable Care Act tax underpayment.