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Current Tax News
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An email sent to managers on Wednesday said that more than 3,500 probationary workers in the Small Business/Self-Employed division are expected to be notified Thursday that they are no longer employed with the IRS. [...]
A FinCEN alert said it would provide an update before “any further modification” of the reporting deadline, “recognizing that reporting companies may need additional time to comply with their BOI reporting obligations once this update is provided." [...]
“Americans deserve a fully functioning agency that can be respected by taxpayers and their preparers,” a statement by AICPA CEO Mark Koziel said Sunday as IRS officials plan for cuts in federal workforce. [...]
The bill, which provides a deadline of Jan. 1, 2026, for an estimated 32 million small businesses to file beneficial ownership information reports, comes as the BOI requirements are mired in court cases. [...]
The IRS issued the 2025 depreciation limitations for passenger vehicles, including those for which bonus depreciation is applied. [...]
The next government needs to prioritize measures to improve Germany’s competitiveness as an investment location. [...]
The variety of approaches to taxation among European countries creates a need to evaluate these systems relative to each other. For that purpose, we have developed the European Tax Policy Scorecard—a relative comparison of European countries’ tax systems. [...]
Compromising on the timing and availability of expensing—or offsetting the revenue losses by worsening other parts of the tax code—would squander an opportunity to craft a fiscally responsible, pro-growth tax reform. [...]
Ahead of Germany’s federal election, the country’s economy remains stuck in a prolonged recession, with GDP stagnating for the past two years and failing to surpass its pre-pandemic level. [...]
If Republicans want a successful year for tax reform, they must put aside the extensive demands for niche provisions and, instead, approach this debate with a principles-first mindset. [...]
Updated for tax year 2024. You know you can claim your kids on your income tax return. But what if […] The post Can You Claim Your Parents as Dependents? appeared first on . [...]
When it comes to charitable donations and taxes, it pays to be generous. Helping shelter pets by donating to your […] The post The Tax Benefits of Donating to Animal Shelters and Caring for Rescue Pets appeared first on . [...]
The IRS rejecting your tax return can be a scary thing. Thankfully, it’s usually nothing to be overly concerned about. […] The post Why Did the IRS Reject My Tax Return? appeared first on . [...]
When it comes to taxes, picking the right tax filing status can make a big difference in what you owe […] The post Head of Household vs. Married Filing Jointly: Which Tax Status is Right for You? appeared first on . [...]
Updated for tax year 2024. Owning a home comes with numerous benefits, and one of them is the opportunity to […] The post 5 Tax Tips for Homeowners appeared first on . [...]