Durable Power of Attorney vs. Form 2848 Issued by IRS | May 2025 | Issue Number: 2025-5 🔍 Why This Matters Most people know about Form 2848, the IRS form used to appoint someone to represent them in tax matters.
Disasters don’t wait for tax season. Is your business prepared? 📅 May 2025 Natural disasters are becoming more frequent and unpredictable — from floods to wildfires to severe storms. As of April, FEMA has issued 12 major disaster declarations across
🕊️ A federal proposal could dramatically reshape the way states tax out-of-state businesses. Here’s what you need to know. 🏛️ What’s Happening? Last week, the House Judiciary Committee advanced a provision in the federal reconciliation bill that would dramatically broaden
A new global survey of corporate tax leaders reveals what’s keeping them up at night—and what’s on the horizon for international tax policy. Deloitte’s 2025 Global Tax Survey, featuring insights from over 1,100 senior finance and tax professionals across 28
👩⚖️Case at a Glance 📅 Issued: April 9, 2025👩 Petitioner: Melissa Correll🏛️ Court: U.S. Tax Court, Judge Siegel📂 Code Sections: 152, 151, 24📘 Tax Year in Dispute: 2021⚖️ Decision: For the IRS (Commissioner) 🧵 The Story Melissa Correll, a Florida
Donating high-value property to charity without proper appraisal documentation could cost you the deduction Your generosity in donating property to charity can yield tax benefits, but it’s crucial to understand that the IRS has specific requirements. A key element for
Proactive Withholding Adjustments Can Prevent Penalties and Ensure Smoother Tax Filing Next Year Don’t wait for tax season surprises! The IRS is actively encouraging taxpayers to review and, if necessary, adjust their paycheck withholdings now. This simple step can help
Rising tariffs and falling shipments from China signal a potential supply shock that could reshape inventory planning, pricing, and job stability across industries. The United States supply chain is currently experiencing significant pressure due to recently imposed tariffs on goods
Accountants: Maximize Inflation Reduction Act Incentives Through Smart Planning Clean energy tax credits are fundamentally changing financial strategies across various industries. The Inflation Reduction Act (IRA) has introduced expanded incentives, presenting businesses with a significant opportunity to reduce their tax
Baseless Claims Against IRS Prove Costly for Georgia Teacher Taxpayers who present frivolous arguments in tax disputes face significant financial penalties, a lesson reinforced by a recent U.S. Tax Court decision. In Swanson v. Commissioner (TC Memo 2024-105, Nov. 12,