Social Security benefits and Supplemental Security Income (SSI) benefits will increase by 2.5% in 2025 for more than 72.5 million Americans Read More

Victims of recent natural disasters are granted an FBAR filing extension for the 2023 calendar year Read More

Our latest edition of Tax Breaks. Plus: Hurricane Helene relief, more states say yes to IRS Direct File, no tax on tips, tax filing deadlines, industry updates and more Read More

The U.S. Department of the Treasury and the IRS have announced that the number of states offering Direct File will double in Filing Season 2025—to 24 Read More

The IRS has now announced tax relief for those affected by the storm, including the entire states of Alabama, Georgia, NC & SC and parts of Florida, Tennessee & Virginia Read More

You'll find Pete Rose's name plastered all over the record books but not where it mattered most to him: the Baseball Hall of Fame Read More

Many Americans donate even if they can't claim a tax deduction. But some of the tax rules that apply are good to follow even if you're not claiming a tax deduction Read More

Our latest edition of Tax Breaks. Plus: Accounting firms and private equity, amnesty programs and voluntary disclosures, RMDs, marital status, filing deadlines, and more Read More

The Public Company Accounting Oversight Board (PCAOB) has announced settled disciplinary orders sanctioning five accounting firms Read More

The IRS has announced it is opening a supplemental claim process to help third-party payers and their clients resolve incorrect ERC claims Read More

The IRS has released its annual update of special per diem rates for taxpayers to use in substantiating business expenses while traveling away from home Read More

The Commonwealth of Massachusetts has announced an amnesty program for taxpayers Read More

Traditional CPA firms need new capital to lure talent, invest in technology and be buyers in the merger game Read More

Our latest edition of Tax Breaks. Plus: CTA deadline, Ireland may not want Apple’s money, government shutdown in the headlines, Maryland signs on to IRS Direct File, sport… Read More

Legal sports betting is now legal in some form in most states. That means big dollars—and additions to state tax coffers Read More

The Corporate Transparency Act—or CTA—requires reporting companies to file reports with the Financial Crimes Enforcement Network (FinCEN) Read More

Code for America and Maryland have announced a partnership that will enable Maryland residents to file their federal and state tax returns online—and for free Read More

Our latest edition of Tax Breaks. Plus: E.U. tax bill takes a bite out of Apple, election year tax proposals, best places to enjoy retirement, industry updates & more Read More

Inflation-adjusted amounts in the tax code are expected to increase by 2.8% from the 2024 numbers—about half the increase that taxpayers saw in 2024 Read More

The European Union's top court has issued a final ruling in an ongoing legal battle over tax benefits, finding that Apple must pay billions in back taxes Read More

Our latest edition of Tax Breaks. Plus: Tax deadlines are headed our way, IRS Voluntary Disclosure Program, Tax Court case is a reminder to keep good records and more Read More

“Keep great records.” That advice would have made a difference in a recent Tax Court Case, Kalk v. Commissioner, which focused on a lack of substantiation Read More

The super-charged saver’s match builds on the existing saver’s credit as an opportunity to improve the long-term financial security of low- to moderate-income Americans Read More

Hunter Biden, the son of President Joe Biden, pleaded guilty to tax evasion, filing fraudulent tax returns, failing to pay taxes, and failing to file tax returns Read More

The earliest national recognition of Labor Day happened on June 28, 1894, when President Grover Cleveland signed a law making it a national holiday Read More

Our latest edition of Tax Breaks. Plus: Taxes and remote work, nonrefundable student credits, businesses aren’t confident about CTA compliance, industry news, and more Read More

A recent survey found an overwhelming majority (83%) of businesses are concerned about their organization’s compliance with the Corporate Transparency Act Read More

The FTC has issued an alert about scammers calling students and parents and pretending to be from the school’s financial aid or bursar’s office Read More

Our latest edition of Tax Breaks. Plus: Federal judge says no to the noncompete ban, taxpayers scramble after massive data breach, election tax proposals, and more Read More

Taxpayers across the country were recently alarmed to learn that their Social Security numbers, addresses, and other personal information may have been exposed Read More

A federal judge in Texas barred the FTC rule, saying the agency exceeded its statutory authority in implementing the rule and finding it to be “arbitrary and capricious.” Read More

The match amount is calculated as if the employee contributed their loan amount to the plan even if they did not make any elective contributions Read More

Our latest edition of Tax Breaks. Plus: IRS announces second ERC disclosure program, S.C. exemption ruled unconstitutional, like-kind exchanges, industry updates and more Read More

Online financial fraud is growing fast, while crypto and speedy money transfers are making it tougher to recover stolen funds. Here are tips for staying safe Read More

The IRS has announced a second ERC voluntary disclosure program for businesses who want to pay back the money they received after filing claims in error Read More

The South Carolina Supreme Court has ruled an existing sales tax statute unconstitutional because it favored in-state sellers over those out-of-state Read More

With hurricane season still going strong, the FEMA says its disaster fund has run out of money. As of August 7, 2024, FEMA will only provide money for immediate needs Read More

The IRS has announced tax relief for individuals and businesses affected by Hurricane Debby in Vermont, the fifth state to receive tax relief related to Hurricane Debby Read More

A Florida man has pleaded guilty to evading nearly $2.4 million in taxes on income he earned from his business Read More

Our latest edition of Tax Breaks. Plus: IRS defends actions on ERC cases, Coca-Cola will pay billions, Michigan homeowners get a break, AI, industry updates and more Read More

Hurricane Debby made landfall in Florida and moved up the east coast. The IRS has announced tax relief for individuals and businesses affected by the storm Read More

Following a previous win at the Michigan Supreme Court, a big question remained: what about those homeowners who lost their property—and their equity—before the rulings? Read More

Despite criticisms that the process is taking too long, the IRS will continue to review ERC claims closely, according to IRS Commissioner Danny Werfel Read More

The case involves transfer pricing, a high stakes issue also at play in IRS fights with Facebook, Medtronic, and Abbott Labs Read More

Our latest edition of Tax Breaks. Plus: Senate votes down the child tax credit bill, politics play a part in tax policy, joint returns, IRS settles, industry updates, and more Read More

The Taxpayer Advocate Service (TAS) is an independent organization within the IRS, tasked with ensuring that every taxpayer is treated fairly Read More

More than six months after the House passed a bill that would expand the Child Tax Credit (CTC), the Senate finally held a vote Read More

Pennsylvania has joined the list of states that will participate in the IRS Direct File program in 2025. Pennsylvania will join Oregon and New Jersey, as well as the 12 states from 2023 Read More

Our latest edition of Tax Breaks. Plus: Best places to retire abroad, Supreme Court tax cases, crypto regulations, audit guidance, interest rates, industry updates and more Read More

For many U.S. athletes, medals or prizes awarded during the Olympic and Paralympic games are tax-exempt. That hasn’t always been the case Read More

Janet Mello, who stole over $108 million from a program designed to provide services to military dependents and their families, was sentenced to 180 months in prison Read More