When related business entities operate across state or national borders, they must follow transfer pricing rules. These rules require intercompany prices f...
Boat owners may qualify for federal income tax breaks — but only if the boat meets specific requirements. For example, a vessel with sleeping, cooking an...
On April 30, the IRS issued temporary regulations explaining how taxpayers can recover federal excise taxes paid on clear diesel fuel or kerosene they late...
Are you planning to send your kids to day camp this summer while you work? Costs for children under 13 may qualify for the federal Child and Dependent Care...
The 2026 midterm elections are about six months away, so you may be thinking about donating money to political campaigns. It’s important to remember that...
The Taxpayer Advocacy Panel (TAP) is a nonpartisan advisory committee made up of citizen volunteers dedicated to improving the federal tax system. Recently...
The IRS has introduced a new process to help certain taxpayers extend deadlines for resolving disallowed Employee Retention Credit (ERC) claims while prote...
Are rental real estate activities eligible for the qualified business income (QBI) deduction? The answer is a distinct “maybe.” This tax break allows e...
Although it may not be possible for you to enjoy a 0% tax rate, your adult children could be eligible. If they’re in the 10% or 12% income tax bracket, y...
On April 23, 2026, the U.S. Justice Dept. and Drug Enforcement Administration (DEA) ordered state-licensed medical cannabis and FDA-approved marijuana prod...
