by Taxing Subjects | Oct 11, 2023 | Tax Tips and News
As electric cars become more common on American roads, fully electric autos (termed “clean vehicles” by the Internal Revenue Service) are now showing up in the used car markets. Owners of new electric vehicles are already able to claim the Clean Vehicle Credit for...
by Taxing Subjects | Sep 27, 2023 | Tax Tips and News
Filing deadlines often change for taxpayers in regions that experience natural disasters. When these extreme weather events hit, the IRS frequently provides tax due date extensions. The relaxed due dates are intended to give more time to the individuals and business...
by Taxing Subjects | Sep 23, 2023 | Tax Tips and News
As of last week, the Internal Revenue Service (IRS) has taken decisive action to address concerns regarding the improper filing of Employee Retention Credit (ERC) claims, announcing a moratorium on new claims through at least the end of the year. This decision is...
by Taxing Subjects | Sep 17, 2023 | Tax Tips and News
The Internal Revenue Service says it’s about to move its main audit spotlight from the everyday working-class individual taxpayer to those engaged in high-income activities. Now on the audit radar: high-income earners, partnerships and large corporations, and...
by Taxing Subjects | Jul 19, 2023 | Tax Tips and News
A key Internal Revenue Service advisory committee has issued its recommendations for 2023, in an effort to keep the IRS – and Congress – on point with improvements to the nation’s income tax filing system. The Electronic Tax Administration Advisory...
by Taxing Subjects | Jun 13, 2023 | Tax Tips and News
Weeks of record flooding and mountain snows brought on by an “atmospheric river” in California resulted in a federal disaster declaration from the Federal Emergency Management Agency (FEMA). While disaster victims received tax relief from filing and payment...
