Bonus: The percentages for all 13 products, including a breakdown of their usage among firms ranked by ranges of numbers of preparers, in the 2020 tax software survey.
Munis remain as popular as ever, but states’ fiscal woes from COVID-19 and other trends could alter the investing landscape.
A one-time deduction of up to $300 can be taken directly on individual returns.
A former business partner's wire transfers are held includible in the taxpayer's income.
Government's right withstands Chapter 7 debtors' attempt to exempt tax overpayment.
The Eleventh Circuit reverses the Tax Court's denial of a deduction for a qualified conservation contribution.
Siloing’ NOLs against UBTI explained ... ‘Incidental’ personal property allowed in like-kind exchanges
The IRS identified a dozen forms for which is will accept e-signatures for the rest of the year. The forms covered include Form 8879, IRS e-file Signature Authorization, used for e-filing individual income tax returns.
The IRS issued guidance on the payroll tax deferral ordered by President Donald Trump on Aug. 8. The notice requires employers to withhold deferred taxes during the period from Jan. 1 to April 30, 2021.
The IRS provided information and tools that tax practitioners can use to inform individuals who are eligible to receive economic impact payments but did not receive one automatically.
The IRS finalized regulations and withdrew temporary regulations on the Sec. 245A dividend rules, as well as Sec. 954 and the reporting requirements for those new rules under Sec. 6038, which were all amended by the law known as the Tax Cuts and Jobs Act.
The IRS has stopped sending balance-due notices to taxpayers as it works to process its backlog of unopened mail. It is also working to correct certain erroneous penalties for some employers who reduced their payroll tax deposits to claim COVID-19 relief-related credits.
This episode explores the huge implications for state and local taxes raised by workers more often untethered from the employer’s physical location, sometimes in another state. And now, during the COVID-19 pandemic, remote teleworking has become the rule for many professions.
We explore the range of issues that Treasury and the IRS face as they implement this order and what it all could mean for employers and employees.
The IRS issued proposed regulations explaining the extended rollover period that applies to qualified plan loan offsets after the rules were amended by the law known as the Tax Cuts and Jobs Act.
The IRS said it had launched its eagerly awaited program to accept Forms 1040-X, Amended U.S. Individual Income Tax Return, electronically.
As the IRS works through its backlog of correspondence, it has posted information about checks it hasn’t cashed yet and notices that went out with incorrect dates.
The AICPA has asked Treasury and the IRS for guidance on the recently announced executive order that defers some employee payroll taxes that would be due between Sept. 1 and Dec. 31.
The IRS issued additional final regulations on payments made to charitable organizations in lieu of state and local tax credits.
President Donald Trump issued presidential memorandum to defer the withholding, deposit, and payment of certain payroll taxes paid from Sept. 1 through Dec. 31, 2020.