Income Tax
IRS to Mail Taxpayers in Disaster Areas CP14CL Notices
The new IRS mailing will go to taxpayers in states who received extended deadlines for the 2022 tax year due to natural disasters.
U.S. Employers Expect 4% Payroll Increases in 2024
Though down from the actual increase of 4.4% in 2023, the numbers remain higher than the 3.1% salary increase budget in 2021 and years prior.
AICPA Voices Support for Tax Deadline Simplification Act
The AICPA supports altering the due dates for estimated tax payments, stressing that it would be better to more closely tie payment due dates to the normal quarter date, which is traditionally 15 days after the quarter end.
Latest GOP Tax Package Includes a Bonus ‘Guaranteed’ Standard Deduction
A proposed Republican tax cut package contains a temporary "bonus" of up to $4,000 for the current standard deduction.
Supreme Court to Rule on Legality of Wealth Tax
The Supreme Court announced Monday it will weigh in on the constitutionality of wealth taxes, with a ruling expected in fall 2023.
Transcripts From Hunter Biden Probe Released by House Ways and Means
The panel voted along party lines to make public 400 pages of transcripts from interviews with two IRS employees.
H&R Block Partners with Microsoft for Tax Prep AI
The system uses thousands of machine learning models trained with millions of tax returns, AI algorithms, and generative AI technology.
‘What a Difference a Year Makes!’: IRS Has Made a Huge Dent in Tax Return Backlog
In her midyear report to Congress, National Taxpayer Advocate Erin Collins shared several IRS improvements this filing season.