TAX NEWS
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- The IRS slashed its auditing staff last year — but the move may have backfired as tax collections from enforcement efforts plummeted, an Inspector General report shows.
- Quick ReadThe IRS treats federal withholding from an RMD as paid evenly across all four quarters, letting retirees skip quarterly estimated tax payments entirely.Taking the RMD in November or December …
- The 10-year rule creates a major tax burden for adult children; a strategic Roth conversion plan can help protect your legacy.
- WASHINGTON – The Internal Revenue Service is providing tax relief to individuals and businesses in 21 Indiana counties affected by severe storms, straight-line winds, tornadoes and flooding that began …
- Understanding Required Minimum Distributions (RMDs) and the rules surrounding them is a vital part of a retirement withdrawal strategy. Here's what to know.
- IRS audits collected $3.5 billion less in fiscal 2025 as the agency shed thousands of auditors and other agency staffers.
- These ten tax rules are simple, but they can save you money on your taxes, and can keep you out of harms way with the IRS.
- The IRS is rolling out automatic penalty relief for taxpayers with a clean compliance history. Learn who qualifies, which penalties are covered, and what to do.
- The IRS is clear: the deduction is capped at what the employer reported, full stop. If you received a 1099 showing something labeled as overtime, that’s rare. The rules that cover employees under the …
- A debate is brewing among tax practitioners regarding whether using AI to prepare tax returns should require a disclosure to clients.