5 ways to fight back against elder fraud
5 ways to fight back against elder fraud
Read More 5 ways to fight back against elder fraudIRS to go fully paperless by 2024
The IRS is making progress on one of its major modernization objectives. The tax agency has announced that taxpayers will have the choice to go fully paperless by 2024’s filing season. It estimates that more than 94% of taxpayers will no longer need to send any form of paper mail to the IRS. And by […]
Read More IRS to go fully paperless by 2024Do you need a home energy audit?
Homeowners and renters may be eligible to claim an Energy Efficient Home Improvement Credit (EEHIC) for 2023 if they get a home energy audit. New IRS interim guidance provides general requirements for an energy audit. It must be conducted by a certified home energy auditor in a taxpayer’s principal residence located in the United States. […]
Read More Do you need a home energy audit?Missouri’s Cameron Mutual Placed Into Rehabilitation
Missouri’s Cameron Mutual Placed Into Rehabilitation – Insurance Journal https://bit.ly/3qtHbM9
Read More Missouri’s Cameron Mutual Placed Into RehabilitationSenators request rules to close loopholes around cryptocurrency
In a letter to the U.S. Dept. of Treasury and the IRS, a group of U.S. senators (three Democrats and one Independent) is requesting rules to close tax loopholes currently being exploited by cryptocurrency tax evaders. Indeed, the Infrastructure Investment and Jobs Act, enacted in late 2021, directed the Treasury and the IRS to implement […]
Read More Senators request rules to close loopholes around cryptocurrencyHow High are Gas Taxes in Your State?
How High are Gas Taxes in Your State? https://bit.ly/45gaJvG
Read More How High are Gas Taxes in Your State?IRS prevails in Tax Court on Child Tax Credit and Earned Income Credit Claims
In a recent U.S. Tax Court decision, the IRS prevailed over a taxpayer who argued that the IRS erroneously disallowed claims of certain tax credits on his original and amended tax returns. The credits included the Child Tax Credit (CTC), Additional Child Tax Credit (ACTC) and Earned Income Tax Credit (EITC). Regarding the CTC and […]
Read More IRS prevails in Tax Court on Child Tax Credit and Earned Income Credit ClaimsCan you deduct student loan interest on your tax return?
The federal student loan “pause” is coming to an end on August 31 after more than three years. If you have student loan debt, you may wonder whether you can deduct the interest you pay on your tax return. The answer may be yes, subject to certain limits. The deduction is phased out if your […]
Read More Can you deduct student loan interest on your tax return?New Technical Guides are a resource for tax exempt and government boards
Four new Technical Guides (TGs) about tax-exempt organizations and government entities are now available from the IRS. The guides are designed to help IRS employees. However, governing boards, tax-exempt group employees and others may also find them useful in understanding the tax regulations they must adhere to. Here are the latest TGs by topic: TG […]
Read More New Technical Guides are a resource for tax exempt and government boardsReceive more than $10,000 in cash at your business? Here’s what you must do
Does your business receive large amounts of cash or cash equivalents? If so, you’re generally required to report these transactions to the IRS — and not just on your tax return. The requirements Each person who, in the course of operating a trade or business, receives more than $10,000 in cash in one transaction (or […]
Read More Receive more than $10,000 in cash at your business? Here’s what you must do
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