It appears Section 174 R&E expenditures will be required to be capitalized for the 2022 taxable year. Unfortunately, the devil is in the details and may catch many taxpayers by surprise. – ​Forbes – Taxes ​Read More  

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