TAX NEWS
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- The IRS may owe you a refund from the COVID pandemic, but you've got to act fast if you want to claim your money. Here's what to know.
- The IRS Office of Chief Counsel issued Chief Counsel Advice 202618011, addressing whether a taxpayer can apply a revised cost allocation method …
- Qualified charitable distributions (QCDs) can reduce your tax bill and Medicare costs in retirement. Here's how this underused IRS benefit makes a difference.
- From combat zone extensions to disability pay exclusions, veterans have access to tax provisions that most never claim.
- Most refunds arrive within 21 days after the IRS accepts an electronic return, the agency says. The timing of your refund may change for amended returns, errors, or if you claim the Earned Income Tax …
- The appropriate tax relief strategy depends on a taxpayer’s financial situation. Taxpayers with steady income may be considered for installment agreements, while those experiencing financial hardship …
- Tens of millions of Americans may be eligible for pandemic-era tax refunds – and even though the issue is still playing out in court, the deadline to file for relief is fast-approaching.
- Lawsuits over fertility treatments and over destruction of eggs and embryos have exploded, yet the tax treatment of recoveries in these cases is not yet established.
- Freedom Debt Relief reports tax debt relief phone call scams are prevalent, but legitimate options like the IRS offer in compromise exist for those in need.
- The Internal Revenue Service is expanding its efforts to detect and investigate fraud involving federal funds.