IRS

The rules address the definition of real property, and how to handle personal property included in an exchange.

The guidance clears up the tax treatment of expenses when a loan from the Paycheck Protection Program hasn’t been forgiven by the end of the year.

Whether the law changes next year or in 2025, wealthy clients can save by using the generous provisions now.

An estimated 9 million people haven't yet received Economic Impact Payments provided under the CARES Act.

The thresholds will all rise, according to the IRS.

The agency announced changes to more than 60 tax provisions.

The agency finalized plans to stop the temporary procedures for Forms 1045 and 1139.

The agency began digging into the massive tax law addressing issues that needed immediate clarification.

Though notorious for being complex, they can be incredibly helpful in the hands of tax professionals who know how to use them.

While the contributions aren’t deductible, distributions such as earnings are tax-free to the designated beneficiary if they’re used to pay for qualified disability expenses.

The agency issued guidelines scaling back a tax break for client entertainment, following through on an element of President Trump’s 2017 tax overhaul.

The final regulation includes guidance on the requirements needed for properties to qualify for the deduction.

The executive order provides "temporary relief for employers" to “pay the employee portion of Social Security payroll taxes,” confirms Republican Rep. Kevin Brady.

Trump’s order defers the payment deadline to the end of the year, though Treasury Secretary Steven Mnuchin has said company participation is optional.

Several significant changes are probably in store for next tax season.

The agency is encouraging taxpayers who have received but not yet responded to a CP-14 notice to promptly do so.

By law, these payments are taxable so clients will need to report them on their 2020 federal income tax returns.

If the court ends up making this choice, intended family members may lose out — all for want of filling out a one-page form.

The Internal Revenue Service is giving taxpayers a break if the checks they mailed in to pay their taxes still haven’t been opened up yet and are sitting in the trailers the IRS set up during the pandemic.

This may be the final chance for eligible clients to submit for the additional economic impact payments under the CARES Act this year.