Tax News

Current Tax News

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States continue to move ahead with implementing new passthrough entity taxes as a workaround to the $10,000 cap on the federal deduction of state and local taxes. [...]

The IRS issues at least its seventh warning about the employee retention credit since October 2022. [...]

The bill filed by Reps. Judy Chu and Mike Carey would streamline the extension-filing process for millions of Americans. [...]

In a unanimous decision, the Court held that the IRS does not have to notify third parties named in a summons when it seeks access to records held at institutions such as banks in aid of collection of a tax assessment. [...]

The 2024 amounts from the IRS mark at least the ninth annual increase in a row for maximum contributions. [...]

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