Tax season may be far from over in 2022, but it’s not too early to make plans to attend this year’s IRS Nationwide Tax Forums, starting in July. The event is seen throughout the income tax industry as the marquee outreach event for tax professionals, state and federal...
IRS Highlights Gig Economy, Virtual Currency, and Foreign Source Income Some new sources of income sometimes go where tax law hasn’t gone before. This leads to income slipping through the cracks for a while until the law catches up. The IRS wants taxpayers to know...
“Just when I thought I was out, they pull me back in.”- Michael Corleone, The Godfather: Part III It turns out the Internal Revenue Service isn’t entirely done with facial recognition software after all. While the agency once again confirmed they will not require...
The Internal Revenue Service has published a new set of frequently asked questions on the Premium Tax Credit, giving taxpayers the latest and best information on how—and why—to claim the credit. Start with the basics The Premium Tax Credit is aimed at low- or...
Judging from the likes of food, gasoline and other staples, it should come as no surprise that the Internal Revenue Service is revising its interest rates, starting in the second quarter of this year. The Internal Revenue Code dictates that interest rates are to be...
