The Internal Revenue Service (IRS) collects billions of dollars each year in back taxes, penalties and interest, in large part because it has an arsenal of tools to collect what's owed. Wage ...

Four new tax deductions are available on federal returns for eligible taxpayers whether they itemize deductions, such as claiming mortgage interest, or claim the standard deduction. All four big tax ...

Four new tax deductions are available on federal returns for eligible taxpayers whether they itemize deductions, such as claiming mortgage interest, or claim the standard deduction. All four big tax ...

Beginning with crypto transactions in 2025 (to be filed in the 2026 tax season), crypto brokers in the United States, such as Coinbase (Nasdaq: COIN), are required to issue a new document known as ...

With bigger tax refunds expected this season, it can be tempting to file returns earlier than usual. But incomplete filings can raise flags for the IRS, delaying processing or even triggering an audit ...

Got your W-2s ready? Today, the IRS will begin accepting 2025 tax returns for the 2026 tax filing season. “The Internal Revenue Service is ready to help taxpayers meet their tax filing and payment ...

One of the most tax-friendly provisions of an IRA is the ability for IRA owners who are at least age 70½ to donate up to $108,000 (2025 limit) directly to an eligible charity from their IRA. This is ...

As discussed in our prior blog posting, Canadian companies should be aware that, if they engage in certain “organizational actions” (as discussed below) that affect the tax basis of their securities ...

IRS is developing a new Schedule 1-A to use to claim new deductions for tip income, overtime pay, car loan interest and new tax break for those 65 an older. IRS and Treasury give new guidance on what ...

The AICPA recommended in a letter that the IRS improve several tax forms used by estates and trusts, in keeping with an executive order mandating that federal tax payments and refunds be processed ...