Income Tax
Selling Your Business? Personal Goodwill Can Reduce Your Tax Burden
Careful planning around a bundle of rights known as goodwill can result in substantial tax savings when selling a corporation or company.
$78 Billion Tax Deal Gets More Bipartisan Support in Congress
Ways and Means voted to approve a tax package that would revive a trio of business tax incentives and expand the child tax credit.
Trump Tax Leaker Acted Out of ‘Deep, Moral Belief,’ Judge Told
Charles Littlejohn, 38, pleaded guilty Oct. 12 to stealing Donald Trump’s tax data from the IRS and leaking it to The New York Times.
IRS System Upgrades Delay E-Filing for Some Tax-Exempt Organizations
The IRS said on Thursday that tax-exempt groups won't be able to e-file Form 990-T or Form 1120-POL until March 17.
Intuit Sues H&R Block for Using ‘Misleading’ Marketing to ‘Tarnish’ the TurboTax Brand
The lawsuit comes as both tax-prep companies are betting big on AI while also facing new competition from the IRS.
What Does a Supreme Court Case About Fishing Have to Do with the IRS?
The U.S. Supreme Court to hear oral arguments in a case about Chevron deference that has implications far beyond the fishing industry.
Bipartisan Tax Deal Would Expand Credits for Businesses, Children, and Low-Income Housing
Other changes to the credit would include making more of the credit available as a refund and indexing the total credit to inflation starting in 2024.
The Tax Blotter – Jan. 2024
The Tax Blotter is a round-up of brief news items relating to tax preparation, policy and legislation.