If you look only at Biden’s proposed changes in direct taxes on households, including individual income taxes, payroll taxes, and estate taxes, the average tax increase falls by more than half, to about $1,100. – ​Forbes – Taxes ​Read More  

A recent survey of 600+ tax pros conducted by ezCater revealed that 96% of tax professionals are skipping meals to focus on work. – ​Forbes – Taxes ​Read More  

How long do you need to keep old tax returns, tax document and tax records? Like most things financial, it depends. – ​Forbes – Taxes ​Read More  

Today’s Social Security column addresses questions about how spousal benefit rates are calculated, how continuing to work can affect benefit rates and when survivor’s benefits can become available. – ​Forbes – Taxes ​Read More  

IRS Criminal Investigation reports that it has investigated 975 tax and money laundering cases related to Covid fraud, with alleged fraud in these cases totaling $3.2 billion. – ​Forbes – Taxes ​Read More  

The tax information you need all in one place. We’ve put together a master list of helpful articles for your tax situation, whether you’re preparing to file, in the process of filing, or waiting for your refund. If you’re self-employed, we have a section for that too. Let’s dive right…

Storm victims have until October 16, 2023 to file 2022 individual income tax returns, as well as various 2022 business returns normally due on March 15 and April 18. They also have until Oct. 16 to make 2022 contributions to their IRAs and health savings accounts. – ​Forbes – Taxes…

The IRS is again warning taxpayers about phishing and smishing schemes as part of this year’s Dirty Dozen. – ​Forbes – Taxes ​Read More  

Kyle Pomerleau of the American Enterprise Institute discusses the Biden administration’s fiscal 2024 budget and examines how the tax proposals play into the administration’s wider political agenda. – ​Forbes – Taxes ​Read More  

The IRS rolled out a first look at this year’s Dirty Dozen, and there’s a new—but not surprising—entry: improper claims involving Employee Retention Credits, or ERC. – ​Forbes – Taxes ​Read More  

Biden’s policy wishlist would only make 40% of Medicare solvent for one third of its standard projection period — that’s a clear sign more options need to be on the table. – ​Forbes – Taxes ​Read More  

Unless a federal tax bill passes, fire victims must consider their settlements when they do their federal income taxes. It can take considerable ingenuity to turn the gross settlement figure into a viable tax reporting strategy that is defensible to the IRS. – ​Forbes – Taxes ​Read More  

Martin A. Sullivan examines the claims regarding the extremely affluent paying their fair share of taxes made in a recent Wall Street Journal editorial. – ​Forbes – Taxes ​Read More  

Congress might bring back the charitable deduction for non-itemizers. – ​Forbes – Taxes ​Read More  

Today’s Social Security column addresses questions about filing early to enable spousal benefits, whether to take divorced spousal benefits and when the Windfall Elimination Provision (WEP) applies to Social Security retirement benefits. – ​Forbes – Taxes ​Read More  

There’s about a month left in the current tax filing season. If you’re one of the taxpayers who hasn’t yet filed, here’s some last minute tax advice, including on why asking for an extension might be a smart move. – ​Forbes – Taxes ​Read More  

The magical application of Section 1202 for C Corporation shareholders seems too good to be true, with millions of tax dollars being saved. Many S corporation shareholders are wondering why they are still being excluded from this worthwhile benefit. – ​Forbes – Channel Feed ​Read More  

Today’s Social Security column addresses questions about when and how continuing to work can affect benefit rates, when widow’s benefits can be available and how timing can affect spousal benefit rates. – ​Forbes – Taxes ​Read More  

Over the past few years, there has been an uptick in the number of taxpayers asking about married filing separately as a tax status. Here’s what you need to know. – ​Forbes – Taxes ​Read More  

The IRS has posted answers to frequently asked questions focused on whether certain costs related to nutrition, wellness, and general health are medical expenses that may be paid or reimbursed under an HSA, FSA, Archer MSA, or HRA. – ​Forbes – Taxes ​Read More