by usoftax_admin | May 22, 2024 | Tax News
The Internal Revenue Service has agreed to a five-year extension of the Free File program, in which tax software businesses offer their return preparation and filing products free to the lowest 70% of taxpayers by adjusted gross income, the agency announced... by usoftax_admin | May 22, 2024 | Tax News
The U.S. Tax Court invalidated a tax liability determination by the IRS for an Ohio partnership for 2016, saying in a ruling Wednesday that the partnership had made a valid election to undergo a special audit process and the agency had failed to honor it. by usoftax_admin | May 22, 2024 | Tax News
The release of a form for reporting digital asset transactions is a pivotal moment in the Internal Revenue Service’s efforts to track cryptocurrency activities that increases oversight by requiring brokers to report investor sales and exchanges, say Shaina Kamen... by usoftax_admin | May 22, 2024 | Tax News
Presidents and vice presidents would be required to disclose their tax returns for the two years preceding their time in office under legislation introduced Wednesday by House Oversight and Accountability Committee Chairman James Comer. by usoftax_admin | May 22, 2024 | Tax News
A part-time administrative law judge for the state of California can’t deduct $25,000 in unreimbursed employee business expenses because his wages are not considered the sort of fees that would allow it, the U.S. Tax Court ruled Wednesday. by usoftax_admin | May 22, 2024 | Tax News
The application portal is open through June 21 for manufacturers seeking a share of a second-round $6 billion tax-credit allocation for their development projects that support the clean energy industry, the Internal Revenue Service announced Wednesday.