TAX NEWS
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- Legal expert Joseph Malouf said the proposed question could be tied to determining which taxpayers qualify for certain tax credits.
- Inheriting a parent's brokerage account feels like a windfall until the IRS starts charging penalties on tax you never knew you owed. Three quarterly deadlines can quietly pass before you realize your …
- The Internal Revenue Service is warning taxpayers, businesses, tribal communities and tax professionals about promoters selling supposed federal tax credits that the agency says don’t exist. The …
- A new scam offering a fake tax credit is making the rounds, the Internal Revenue Service warned. Promoters are offering "Tribal Tax Credits" that do not exist under federal law, the IRS said in a …
- A foreign‑gift penalty case reveals how IRS and DOJ can collide, exposing taxpayers even after a refund. The Fuentes dispute highlights a deep flaw in tax administration.
- Taxpayers may have to state whether they’re legally in the US if a draft of a common annual tax form floated by the IRS gets adopted for the next filing season.
- Any adjustment is meant to combat "bracket creep." …
- Overpaying taxes through the year can bring an unwanted refund, but underpaying them could bring penalties.
- The federal tax deadline is April 15 for most taxpayers, but you can file an IRS tax extension, which pushes the filing due date to October 15. However, you still must pay your tax balance by the …
- The IRS does not offer one “tax forgiveness” program — relief comes through options like Offer in Compromise, penalty abatement and hardship status. Qualifying depends on your financial situation, …