There are new capital gains tax rates for 2023. What you need to know about short term capital gains and long term capital gains for 2023. – ​Forbes – Taxes ​Read More  

Joseph J. Thorndike explains the circumstances that led to President Lyndon Johnson’s 1968 Vietnam War tax surcharge, aimed at stemming inflation. – ​Forbes – Taxes ​Read More  

In 1994, the U.S. Tax Court decided a key case that gave plaintiff lawyers the ability to accept their contingent legal fees over time rather than in a lump sum. But recently, the IRS has suggested revisiting that. – ​Forbes – Channel Feed ​Read More  

Tax laws were written decades ago in a world of linear supply chains. As companies are switching to circular business models, they need a new approach to managing their tax affairs. – ​Forbes – Taxes ​Read More  

Treasury Secretary Janet Yellen has written to House Speaker Kevin McCarthy, saying that failure to raise the ceiling could cause “irreparable damage to the US economy.” – ​Forbes – Taxes ​Read More  

Today’s Social Security column addresses questions about how accurate SSA’s benefit rate estimates actually can be, the timing of benefit payments each month and taking spousal benefits after retirement benefits. – ​Forbes – Taxes ​Read More  

For the first time in two decades, the IRS just took a critical look at plaintiff lawyer fee deferrals. By analyzing a problematic deferral the writeup tells us how to avoid a failed deferral. – ​Forbes – Taxes ​Read More  

Visceral hatred of the IRS seems to be a major selling point for the FAIR tax, which has been kicking around as a proposal in some form or other for decades. – ​Forbes – Taxes ​Read More  

In her 2023 Annual Report to Congress, National Taxpayer Advocate Erin Collins, writes that “We have begun to see the light at the end of the tunnel.” Progress is being made on the backlog of paper filed returns and correspondence in the IRS inventory. – ​Forbes – Taxes ​Read More…

Yesterday the IRS announced that e-filing for individual tax returns (Form 1040) will open on Monday, January 23, 2023. At that time the Service will begin accepting and processing returns for tax year 2022. – ​Forbes – Taxes ​Read More  

The start of the 2023 tax season was officially announced by the IRS and here is what to expect this year. – ​Forbes – Taxes ​Read More  

You can receive Form 1099-K for a variety of reasons. How you report the income listed on your 1099-K depends on how you made that income, which can be confusing if you’ve never seen this form before. In late December 2022, the IRS delayed an anticipated change in 1099-K reporting…