Members of the U.S. Senate Finance Committee recently met to discuss ongoing issues with the federal tax treatment of digital assets. Both Republicans and ...
For federal tax purposes, proceeds from legal settlements are generally included in taxable income unless specifically excluded by law, such as those for p...
Many Americans donate to charities they wish to support. If donors itemize deductions, they may also enjoy a tax break. But if a nonprofit violates tax law...
The IRS is providing penalty relief during the first three quarters of 2026 for banks and money transfer companies (so called “remittance transfer provid...
Ever since Billy Long was removed as IRS Commissioner in August 2025, U.S. Treasury Secretary Scott Bessent has served as Acting IRS Commissioner. But rece...
The holidays are a time for gratitude, and when they arrive, many employers are planning to show appreciation by giving gifts to their staff. Different typ...
For many individuals, certain assets bypass their wills or trusts and are transferred directly to loved ones through beneficiary designations. These nonpro...
On September 18, 2025, the Financial Accounting Standards Board (FASB) published updated guidance on how companies must account for the costs of developing...
As the year winds down, you may be hoping to combine smart estate tax planning with tax savings using the annual gift tax exclusion. For 2025 and 2026, thi...
Employers who’re responsible for collecting payroll tax and remitting it to the IRS can face a penalty equal to 100% of the unpaid amount if they willful...