IRS Says Tax Gap For 2021 Expected To Be $688 Billion
A report released by the IRS indicates that the nation’s tax compliance rate is holding at 85%, more or less the same as in prior years. – Forbes – Taxes Read More
A report released by the IRS indicates that the nation’s tax compliance rate is holding at 85%, more or less the same as in prior years. – Forbes – Taxes Read More
Ryan Finley explains how the Eighth Circuit’s second ruling in the Medtronic case will have major reverberations for a high-stakes and litigation-prone area of tax law. – Forbes – Taxes Read More
The Department of Justice continues to focus on pandemic-related fraud. This week, ten defendants were charged with filing false PPP and EIDL applications. – Forbes – Taxes Read More
Professor Jeremy Bearer-Friend of the George Washington University Law School discusses poll taxes in the 20th century and how they were used to target taxpayers based on race and ethnicity. – Forbes – Taxes Read More
Updated for tax year 2023. If you’re a freelancer or career independent contractor, you’re probably familiar with Form W-9. As far as tax paperwork goes, it’s one of the better ones because it generally means you’ve won a new client! The form gives you an easy way to submit all…
U.S. Supreme Court may invalidate decades of tax rules over a $15 thousand dispute by two individuals, the Moores. – Forbes – Taxes Read More
Thinking of making a gift to help those suffering abroad? You are not typically not allowed a tax deduction for contributions to a non-U.S.-based charitable organization. – Forbes – Taxes Read More
Juror 26 claimed that prior to deliberations she had heard three Black jurors were going to find the defendants guilty because they were “rich. white, and entitled”. – Forbes – Taxes Read More
Marie Sapirie considers the implications of a bill proposed by Senate Finance Committee member James Lankford, R-Okla., which would require the Office of Information and Regulatory Affairs to review tax regulations. – Forbes – Taxes Read More
At a glance: You will receive Form 1095-A if you were enrolled in a Marketplace plan from healthcare.gov during the tax year. Save this form with your other important tax records. Form 1095-A will help you claim the premium tax credit if you qualify. What is 1095-A Tax Form? You…
Updated for 2023. Filing taxes can be overwhelming, and sometimes, we overlook important things in the chaos. Let’s review common pitfalls taxpayers encounter and suggest some proactive measures you can take to avoid making the same mistakes. Not only should this give you a smoother tax filing experience, but it…
Updated for tax year 2023. At a glance: Stock options and ESPP plans generate income in two categories: ordinary income and capital gains or losses. Calculate your gain or loss by subtracting your adjusted cost basis from the sales proceeds. Check your 1099-B for accuracy, compare it to your investment…