Taxpayers who reasonably rely on FAQs posted by the Internal Revenue Service will have a reasonable-cause penalty defense under a new policy announced by the agency on Friday. The IRS will also keep original versions of FAQs on its site after it updates them.
The Social Security Administration announced the maximum amount of wages subject to Social Security tax in 2022 and a cost-of-living adjustment for Social Security benefits.
Online submissions of POAs and client account authorizations are processed automatically.
The taxpayers did not properly claim an exemption, the court holds.
A taxpayer’s loss is disallowed based on the timing of a basis adjustment.
Form 1040 virtual currency query revised for 2021 ... Certain pre-TCJA cryptoasset trades are not like-kind ... IRS addresses ARPA pension aid rules
Tax planning is a year-round activity. Here is some advice to consider before the year end. Also, get a preview of a grammar quiz on commonly confused word pairs.
The letters, which the IRS provides as a courtesy to executors and other authorized estate representatives, will now cost $67.
Final regulations clarify the treatment of qualified improvement property in FDII and GILTI, and foreign tax credit transition rules address post-2017 NOL carrybacks to pre-2018 tax years.
The IRS reports that its Transcript Delivery System is down for business taxpayers who reported information related to COVID-19 employment tax relief on Form 941, Employer’s Quarterly Federal Tax Return.
The proposal would raise tax rates for corporations and individuals and make many other changes to the Internal Revenue Code.
Tax season was difficult for several reasons. What did tax practitioners think of the software they used to prepare returns? Learn more in this podcast with transcript.
Information reporting on Form W-2 or a separate statement allows self-employed taxpayers to claim qualified sick leave and qualified family leave equivalent credits.
The allowances for determining deductions for lodging, meals, and incidental costs are slightly higher than before.
Bonus: The percentages for all 13 products, including a breakdown of their usage among firms ranked by ranges of numbers of preparers, in the 2021 tax software survey.
See how the brands compare in CPAs’ annual assessment of their tax preparation programs.
Tax Court holds against a former Pennsylvania legislator despite his never having been the organization's officer or employee.
A decedent's marriage is held valid based on the place-of-celebration rule.
Tax deadlines are pushed back 60 days after federally declared disasters.
IRS does not acquiesce to Sixth Circuit’s holding on split-dollar regs. ... COBRA premium assistance credit clarified ... Bank deposit could escape tax levy by hours