On Jan. 16, the U.S. Dept. of Education announced a temporary delay of involuntary collections on defaulted federal student loans. For now, borrowers who a...
After divorce or legal separation, IRS rules determine which parent can claim many child-related federal income tax breaks. Generally, the parent with whom...
In general, companies can deduct rent as a business expense on their federal tax return. However, several rules limit this tax break. For example, payments...
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...
