Discover how to correct errors and make amendments to your recent tax return using Form 1040-X. If you’ve identified errors or omissions in your 2022 tax return, there’s no need to worry. You can rectify these mistakes by filing Form
2023 Tax-Filing Season Sees Increased Use of Filters and Successful Fraud Detection In its ongoing efforts to tackle identity theft and prevent the issuance of fraudulent refunds, the IRS has implemented nearly 70 additional filters for the 2023 tax-filing season.
Biden and McCarthy have agreed to raise the debt ceiling and avoid default and economic uncertainty. President Joe Biden and Speaker of the House Kevin McCarthy have reached an agreement. This will raise the debt ceiling and avoid economic uncertainty.
Potential tax proposals focusing on R&D credits and 1099-K relief for online sellers are underway. House Republicans are getting ready to announce a tax package as the debt ceiling deadline approaches. The package could bring major changes to the tax
State Lawmakers Propose Property Tax Cuts for Seniors, Possible Funding through Corporate Business Tax Surcharge Extension Tax cuts, particularly for seniors and large corporations, are poised to become a major point of contention in the final weeks of budget negotiations
The Red Tape Reduction Act Aims to Reduce Paperwork and IRS Interference for Small Business Owners Senators Sherrod Brown and Bill Cassidy have introduced the Red Tape Reduction Act, seeking to modify a future tax rule that would require third-party
How to Navigate Tax Implications and Preserve Your Investment Returns Capital gains taxes are commonly associated with selling gainful investments, but what many investors ignore is the potential tax liability on investments that have reduced in value, even if they
Key Details and Implications for Taxpayers The IRS recently confirmed that it will keep the interest rates stable for the third quarter of 2023. This decision has effects on individuals and companies who owe taxes or are due refunds. In
Employees to Benefit from Higher HSA Limits for Next Year The IRS has recently released the inflation-adjusted amounts for health savings accounts (HSAs) for the year 2024. The notable outcome from the announcement is that employees will be able to
Understanding the Implications of the Polselli v. IRS Case and Practical Tips for Managing Tax Debt In a recent landmark ruling, the U.S. Supreme Court weighed in on the IRS’s power to access bank records without notice for tax collection