TAX NEWS
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- Paying taxes on your side hustle rarely feels urgent while the money is coming in. A few app payouts, freelance invoices or after-hours client projects can feel easy enough to track in the moment. But …
- Treasury and IRS proposed rules restricting tax refunds from four major credits for certain legally working immigrants, with a comment deadline of Oct. 5.
- The IRS and Treasury proposed a rule blocking up to 700,000 noncitizen filers from refundable tax credits like the EITC. See who could lose refunds.
- Each tax compliance report includes an IRS digital certificate verifying its authenticity.
- Revised FAQs for the business interest deduction explain changes to adjusted taxable income, floor plan financing, capitalization rules, and CFC inclusions.
- The IRS has clarified that “no tax on overtime” is a deduction, not a blanket exemption from federal taxes on overtime wages.Generally, only the premium po …
- Most retirees scrambling to cover missed quarterly tax payments assume they have run out of options by December, but the IRS treats one common year-end transaction in a way that quietly rewrites the …
- An aggressive IRS enforcement campaign has swept more than 1,100 syndicated conservation-easement disputes into audits and litigation.
- Many investors who hold cryptocurrency like bitcoin and ether have a difficult time figuring out how much tax to pay on transactions.
- A debate is brewing among tax practitioners regarding whether using AI to prepare tax returns should require a disclosure to clients.