TAX NEWS
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- Looking for tax relief? Learn how tax credits, deductions, payment plans and other IRS programs can help reduce or manage your tax burden.
- Wealthy parents write six-figure checks to the IRS for income their children never touched, and a 2004 ruling says those payments are not gifts. The legal mechanism behind this move has survived every …
- What taxpayers need to know about late-filing penalties, payment options and avoiding further IRS action.
- Tax Court upholds 20% and 40% penalties against taxpayers in Jones v. Commissioner for a failed 831(b) microcaptive tax shelter lacking economic substance.
- INDIANAPOLIS—The IRS just launched a new mobile app. The federal agency says the goal is to help you quickly get answers to your tax-related questions. As Indiana’s I-Team has reported, many people …
- BOXX delivers T-bill-like returns via box spreads, offering significant tax advantages for taxable investors holding over a year. Read more on the BOXX ETF here.
- The Internal Revenue Service is warning taxpayers, tribal communities, businesses and tax professionals about promoters selling fraudulent “Tribal Tax Credits” that do not exist under federal law.
- Nearly 200 organizations are urging the IRS to scrap a plan to deny federal tax credits to lawful immigrants and their children who are U.S. citizens.
- The Oct. 15 deadline for tax-extension filers is approaching. Learn how IRS penalties work, what happens if you miss it and your payment-plan options.
- 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 …