Income Tax
Why a Wealth Tax Would Be Horrible for American Taxpayers
An upcoming Supreme Court case about unrealized gains could decide the fate of a potential federal wealth tax.
Lawmakers Urge the IRS to Crack Down on ‘Wealthy Tax Cheats’
IRS data from 2017 to 2020 reveal that 1.4 million wealthy individuals failed to file federal tax returns—about $65.7 billion in unpaid taxes.
What You Need to Know About Taylor Swift Tickets and a New IRS Rule
Here’s what you need to know about how reselling concert tickets (not just those for Swift’s Eras Tour) might impact your tax bill.
Three Complex Tax Issues Businesses are Facing Now
There are a myriad of challenges and changes in the tax codes affecting their business clients each tax season.
Louisiana Tax Relief Granted by IRS After Seawater Intrusion
The agency has granted Louisiana tax relief to affected taxpayers following seawater intrusion of the Mississippi River.
IRS Adds Features to Tax Pro Account for Managing Client Authorizations
New additions to Tax Pro Account, available through IRS.gov, will help practitioners manage their active client authorizations on file with the Centralized Authorization File (CAF) database.
House and Senate Pass Last-Minute Bill to Avoid Government Shutdown
The Senate overwhelmingly passed bipartisan legislation Saturday to avoid a disruptive U.S. government shutdown, sending the bill to President Joe Biden for his expected signature just hours before a midnight deadline.
Government Shutdown Likely Averted with Last-Minute Temporary Spending Deal in House
The latest House stopgap bill passed with the support of 126 Republicans, while 90 GOP lawmakers voted “no.” Only one Democrat, Rep. Mike Quigley, D-Ill., opposed it, over the omission of Ukraine aid.