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Current Tax News
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The announcement by Treasury and the IRS is a reversal from January regulations. Thursday’s notice provides immediate relief from penalties under Secs. 6707A(a), 6707(a), and 6708 for any failure by participants or material advisers to file disclosure statements required by the regulations. [...]
The National Federation of Independent Business said in a letter to Treasury Secretary Scott Bessent that millions of beneficial ownership information (BOI) reports filed by domestic companies before the government dropped the BOI requirement should be destroyed. [...]
A Senate bill would bar states from imposing tax and withholding on out-of-state workers who work for no more than 30 days within its borders. An AICPA letter described the bill as “critically important.” [...]
In a letter to the IRS, the AICPA recommended changes to the final regulations for generation-skipping transfer (GST) exemption and certain GST elections that it said would make it easier and less expensive for taxpayers to file. [...]
The programs include one open to the workers with the most seniority and a renewal of the previous deferred resignation program. [...]
Policymakers may consider a broader, more comprehensive property tax reform that creates a uniform system with effective levy limits to prevent unauthorized increases in property tax revenues and, in most cases, property tax bills. [...]
New leadership at the FDA will have the opportunity to revisit decisions that have shifted consumption to illicit products and discouraged harm reduction—policies that, however well intended, have come at a significant cost in lives. [...]
On average, businesses in the OECD are liable for collecting, paying, and remitting more than 85 percent of the total tax collection. [...]
One area of the tax code in which extreme complexity and low compliance go hand-in-hand—and where reform is desperately needed—is in states’ nonresident individual income tax filing and withholding laws. [...]
The flat tax trend is gaining momentum nationwide, and Missouri lawmakers are right to identify income tax rate reductions as particularly pro-growth. [...]
So, you’ve found a side hustle to bring in extra income — maybe it involves dog walking, livestreaming your video […] The post Weird Gigs, Real Taxes: 5 Odd Jobs with Taxable Income appeared first on . [...]
Updated for tax year 2024. Got a big tax refund this tax season? You’re not alone. Many American taxpayers see […] The post 6 Smart Ways to Invest Your Tax Refund This Year appeared first on . [...]
Last updated April 14, 2025. The Internal Revenue Service (IRS) has announced tax relief for taxpayers in areas impacted by […] The post IRS Extends Tax Deadlines in Some States Due to Natural Disasters appeared first on . [...]
If you’ve ever looked into ways to build retirement income, chances are you’ve stumbled across annuities. But then you probably […] The post Annuities and Taxes: What You Need to Know appeared first on . [...]
If you receive a letter this year from the IRS, don’t be alarmed. After every tax season, the agency sends out […] The post 8 Things to Know About an IRS Notice appeared first on . [...]