From technical know-how to charisma and innovation, the skills and personal attributes of a company’s leaders are often critical to its success. But thos...
A Crummey trust provides a key tax benefit of an outright gift without some of the downsides. Although the mechanics can seem technical, the concept is str...
Eligible workers can claim new federal income tax deductions on their 2025 returns for qualified tip income (up to $25,000) and qualified overtime premiums...
The House Ways and Means Committee has advanced a bipartisan bill that would require the IRS to modernize its digital processing technology for tax returns...
The Internal Revenue Service Advisory Council (IRSAC) has published its annual public report, which provides recommendations to the IRS on current and emer...
On Jan. 14, the IRS released guidance on changes to the additional first-year depreciation deduction. Also known as bonus depreciation, this break was incr...
At the recent D.C. Bar Tax Conference, former IRS and U.S. Justice Dept. officials warned about challenges during the upcoming tax filing season. One chall...
Congress is back in session. Addressing health care seems to be high on the priority list. Last week, the House passed a three-year extension of the Afford...
The IRS has proposed updates to the regulations for when certain third-party settlement organizations (TPSOs), such as PayPal, eBay and Venmo, must perform...
Mark your calendar: The IRS will start accepting tax returns on Jan. 26. You have until April 15 to file your 2025 return and pay any taxes you owe. The IR...