Filing for an extension during tax season is often seen as an act of desperation. It’s not. It can be—and often is—the result of careful tax planning Read More

On Thursday, Mar. 9, 2023, the Senate voted to confirm Daniel Werfel to lead the IRS Read More

More than 168 million individual tax returns are expected to be filed, with the vast majority coming before the April 18 tax deadline Read More

IRS numbers continue to indicate that taxpayers are getting their returns in and processed more quickly than they did last year Read More

The IRS has issued a warning to taxpayers of new scams that urge people to use wage information on a tax return to claim false credits in hopes of getting a big refund Read More

Thanks to gratuity-goosing point of sale terminals, the tip take is on the rise. Now the feds are eyeing that same digital path to collect more of the taxes owed on tip income Read More

A bipartisan group of Senators, including Senators James Lankford (R-OK) and Raphael Warnock (D-GA), are calling for a temporary change in tax breaks for charitable giving Read More

On June 7, 2021, Alex Murdaugh called police to report that he had discovered the bodies of his wife and son. Last week, Murdaugh took the witness stand to deny he was the one to pull the tr… Read More

What should happen to hundreds of millions of dollars in unclaimed money? That's what was at stake in Delaware v. Pennsylvania and Wisconsin Read More

Alexandru Bittner, a Romanian–American dual citizen, made a mistake when he failed to report his foreign accounts. But how much he should pay for that mistake? The answer to that quest… Read More

We’re almost halfway through the tax season. So what do we know about tax season so far? The data from the IRS continues to indicate that taxpayers are getting their returns in and pr… Read More

Martinez, the wife of one of the most significant cocaine traffickers in Delaware history, has now been sentenced to prison Read More

Residents of Floyd County, Georgia, were shocked recently when they saw a man visiting homes claiming to be from the IRS. It turns out that he really did work for the IRS Read More

South Carolina saw a net gain of 1.7% in population over the past year. State Senator Stephen Goldfinch (R-34) has introduced a measure that could require new residents to pay additional fee… Read More

Many taxpayers now have the flexibility to move to what they believe are more tax-friendly locations where they can pay less in state income taxes. So what do tax rates look like across the… Read More

It has been a wild ride for buyers and sellers in the US housing market over the past year. Homeowners may be grappling with gains and losses on sales, and that can translate to confusion at… Read More

The IRS has now made data available comparing Feb. 11, 2022, and Feb. 10, 2023, and continues to show an uptick in filing numbers, but a dip in refunds Read More

The agency is taking another step towards offering taxpayers an alternative to adding to the pile: taxpayers who receive specific notices requiring them to send information to the IRS now ha… Read More

According to the IRS, Presidents Day weekend, when many people prepare their taxes, historically marks a peak period for IRS phone lines Read More

Two California men have been sentenced to prison for their roles in a conspiracy to defraud the Paycheck Protection Program (PPP) and preparing false tax returns for professional athletes Read More

A New Hampshire man has fired back at the IRS over the agency's issuance of a "John Doe" summons and subsequent seizure of his financial records from Coinbase Read More

Many taxpayers got their first glimpse of President Biden's nominee to lead the Internal Revenue Service on Wednesday as Daniel Werfel appeared before the Senate Finance Committee for his co… Read More

Paying for college is a big topic of conversation in my house. As parents like me struggle to figure it out, lawmakers have taken some steps to make it easier, including a recent rule change… Read More

American workers are becoming fond of flexible work schedules—but are we willing to foot the bill for them? Last year, Oregon taxpayers learned they were footing the bill for travel co… Read More

Romance scams are thriving online. Companies and agencies who monitor these kinds of scams expect numbers to tick up around Valentine's Day, since those looking to make a connection can also… Read More

As spectators, teams, and the news media fill up hotel rooms and restaurants, Super Bowl LVII should be a big win for the host city—but that's not always the case Read More

Patricia Miller, who represents the 27th district in the Connecticut state senate, recently introduced a bill that would hold tax preparers financially responsible for errors Read More

The initial data from the IRS indicates that taxpayers are getting their returns in more quickly than they did last year Read More

The IRS has announced that taxpayers who electronically file their amended returns will now be able to select direct deposit for their refund Read More

The amount of information on your Form W-2 can be overwhelming. Here's what you need to know for the current tax season Read More

President Joe Biden will deliver the 2023 State of the Union Address later tonight, on Tuesday, Feb. 7, 2023, at 9:00 p.m. EST. Here's what to expect the President to say about taxes Read More

As you pull out your receipts and fire up your computer, here's a look at some of what was in effect for the last year, including what was different from 2021 Read More

It already looks like a smoother tax season. Here's what you need to know about tax refunds in 2023 Read More

The Pandemic Response Accountability Committee—PRAC—has identified billions of dollars in potential fraud and identity theft Read More

By the time Lisa Marie turned 25 years old, her father's estate was reportedly worth $100 million. The trust she created to hold those assets is now at issue Read More

The IRS has announced that businesses can now file Forms 1099 using a new online portal called the Information Returns Intake System, or IRIS Read More

In a video that went viral this week, an alleged Obama supporter screams about her "Obama phone" at a rally in Ohio. She tells a reporter, "Keep Obama in president, you know! He gave us a ph… Read More

It's Fix The Tax Code Friday! Congress faces a number of obstacles in the path to a spending bill. Earlier this week, I outlined seven: Sequestration, Carried Interest, Highway Trust Fund, C… Read More

You have to give scammers credit: they sure don't give up. There's another set of IRS phishing emails making the rounds this week. I've seen two versions, one purporting to be from "info man… Read More

If you've seen those bogus IRS emails in your inbox, you know that scammers have been targeting taxpayers. Now, they're gunning for tax professionals, too Read More

Not sure what to do with all of that Halloween candy? Here are a few suggestions, complete with potential tax consequences Read More

As health care benefits change, what does it mean for how those benefits are taxed? Read More

VideoGrowing up in North Carolina, I've seen my share of the inside of a Waffle House or two. In fact, my college roommate and I even had a favorite song on the Waffle House jukebox: I'm not… Read More

Two months ago today, Steven Miller was forced to resign his position as Acting Commissioner of the IRS in the wake of the tax exempt organization scandal. Those two months have felt like ye… Read More

For years, multinational companies like Google, Apple and Microsoft have been thwarting attempts by government authorities abroad to plow through complicated tax structures and pin down prof… Read More

Greece has been in the news as it struggles to repay its debts. Its failure to embrace austerity measures and ramp up tax collections has made things worse. How bad is it and how did Greece… Read More

US Border Patrol agent Timothy Hamill stands beside a manhole along the US-Mexico border on a hilltop at Border Field State Park (R), across from Playas de Tijuana (L) near San Diego, Califo… Read More

Reacting to the DOJ announcement that it would not file charges in the IRS tax exempt scandal, Rep. Jason Chaffetz has introduced a impeachment is needed to "restore public confidence in th… Read More

Planning on catching your favorite entertainer in Nevada this year? Beginning in October 2015, tickets to live entertainment may be subject to a new 9% tax on admissions - that includes Burn… Read More

Gov. Andrew Cuomo has announced that New York will issue estate tax refunds to those taxpayers who file amended returns as a result of the recent Supreme Court ruling that deemed DOMA uncons… Read More

It's the 12 Days of Charitable Giving! Next up: CaringBridge Read More

Looking for more ways to save on medical expenses? If you have a high deductible insurance plan, consider funding an HSA Read More

Tonight, GOP candidates Jeb Bush, Ben Carson, Chris Christie, Ted Cruz, Carly Fiorina, Mike Huckabee, John Kasich, Rand Paul, Marco Rubio and Donald Trump took the stage to talk tax, immigra… Read More

Congress introduces two more bills to repeal the estate tax Read More

It’s the eighth day of our 12 Days of Charitable Giving. Our featured charity, Electronic Frontier Foundation, is leading the way in the defense of free speech, privacy, innovation, an… Read More

Despite the fact that the mandatory hold on certain tax refunds is now over, tax season remains sluggish according to data released by the Internal Revenue Service (IRS) Read More

On Friday, the IRS wrapped up what might have been its worst.week.ever with a hearing in front of the House Ways and Means Committee. The hearing focused on allegations that the IRS improper… Read More

So do they or don't they?   After maintaining for quite some time that Lois Lerner's emails are completely, definitely gone (maybe), it turns out that there's now a different story. &nb&hell…Read More

Would you trust IRS to prepare your tax return? Some countries across the world already have a system that allows taxpayers to simply approve government prepared returns. Would that work in… Read More

It was a flurry of activity on the Hill this week as one committee voted to pursue charges against disgraced former IRS official Lois Lerner as another committee asked Attorney General Eric… Read More

What lures shoppers out on Thanksgiving and Black Friday? Is it the thrill of finding a bargain? What if those bargains weren't quite so great? Is a national sales tax the solution to the pe… Read More

An immigrant couple wanted to say thanks to America - and did so with a big check Read More

CHICAGO, IL - DECEMBER 28: A sign marks the location of an H&R Block office on December 28, 2010 in Chicago, Illinois. The banking partner of H&R Block Inc. has been ordered to stop… Read More

Minnesota State Capitol building in Saint Paul, designed by Cass Gilbert (Photo credit: Wikipedia) Every year, we expect to see a few glitches in tax filings, including software bugs and pro… Read More

As those bogus IRS caller schemes continue to rake in millions from taxpayers, scammers are already dreaming up new ways to cheat you out of your money. Here are a few scams that Treasury wa… Read More

The tax gap in the United States is estimated to be about $385 billion. The tax gap is the difference between what the Internal Revenue Service (IRS) expects to collect in taxes and what the… Read More

Taxes From A To Z (2015): F is for FIFO (first in, first out) Read More

Amid concerns about the consequences of identity theft, businesses and other organizations are offering identity theft protection services to employees and customers. Should it be taxed? IRS… Read More

Looking for a career advantage? An internship may be just the ticket. But what are the tax consequences of an internship? Read More

It's that time of year! Submit your favorite charitable organization for consideration in the 12 Days Of Charitable Giving Read More

There was a lot of talk about tax in 2015 - but was there any movement? With just a few weeks to go in the calendar year and Congress scheduled to break for the holidays shortly, here's a qu… Read More

The Internal Revenue Service (IRS) has rolled out a new online option that will help tax professionals submit certain authorization forms electronically Read More

If you want to get your refund as fast as possible, the IRS recommends that you e-file your tax return and use direct deposit (be sure to double-check those account numbers before you send y… Read More

The Earned Income Tax Credit (EITC) or Earned Income Credit (EIC) is a refundable tax credit targeted to working people with low to moderate income Read More

The Internal Revenue Service (IRS) has announced that tax season will open on Friday, February 12, 2021 Read More

The Internal Revenue Service (IRS) hasn’t officially announced the start date to the new season, but the website indicates that Free File is officially open Read More

With all of the last minute changes to the Tax Code - and those stimulus check reconciliations - it was clear that the Internal Revenue Service (IRS) was going to have to make revisions to t… Read More

For years, Treasury has advised taxpayers that virtual currency is not required to be reported on the Financial Crimes Enforcement Network (FinCEN) Form 114, Report of Foreign Bank and Finan… Read More

Chances are that you’ve already received notification about your second round of stimulus checks: this batch of checks is being issued much more quickly than the first round (from 2020… Read More

The Internal Revenue Service (IRS) has announced that the “Get My Payment” tool is now open Read More

Twitter streams weren’t just filled with news, links, and best practices focused on tax, but practice hacks, spaces to vent, and much needed words of encouragement Read More

The IRS reminds taxpayers that the payments are automatic, and they should not contact their financial institutions or the IRS with payment timing questions Read More

This second round of checks are part of the Coronavirus Response and Relief Supplemental Appropriations Act of 2021, passed by Congress last week and signed into law by President Trump on Su… Read More

Beginning on January 1, 2021, the standard mileage rates for the use of a car, van, pickup or panel truck will be:56 cents per mile for business miles driven (down from 57.5 cents in 2020)16… Read More

When Congress passed the Coronavirus Aid, Relief, and Economic Security Act (CARES Act) in March of 2020, the law included provisions intended to help businesses. One of the most popular is… Read More

The bill would extend the pandemic unemployment insurance programs - those created under the CARES Act - by a reported 11 weeks through March of 2021 Read More

Checks will be $600 per person - or $1,200 for married couples filing jointly - and an additional $600 per child Read More

The bill would extend the pandemic unemployment insurance programs - those created under the CARES Act - by 11 weeks Read More

For 37 years, PNC has calculated the prices of the 12 gifts from the classic holiday song, "The Twelve Days of Christmas." Read More

There are several notable changes to the form proposed for the tax year 2020 - the tax return that you'll file in 2021 Read More

The bill would extend the pandemic unemployment insurance programs - those created under the CARES Act - by 16 weeks Read More

While still prohibited by federal law (possession can lead to fines and jail time), today, forty-four states and the District of Columbia currently have laws legalizing marijuana for either… Read More

An Indian national was sentenced today to 20 years in prison followed by three years of supervised release in the Southern District of Texas for his role in operating and funding India-based… Read More

The Internal Revenue Service (IRS) continues to take steps forward in efforts to protect taxpayer data Read More

In total, the PPP resulted in over five million loans totaling $525 billion. Here's a look at the program, and what comes next Read More

If you are a self-supporting student and don’t need to file a tax return, you have until November 21 to register to get your stimulus check (also called an Economic Impact Payment, or… Read More

It’s not just federal race that made news on Election day: state and local initiatives were on also on the ballot Read More

The Internal Revenue Service (IRS), state tax agencies and the tax industry are warning taxpayers about a new scam - by text - to trick people into disclosing bank account information under… Read More

The Internal Revenue Service (IRS) has announced a number of changes designed to those taxpayers who have been impacted by COVID-19 Read More

A woman who faked her resume for years in exchange for high-paying executive gigs is finally going to prison Read More