IRS

The optional standard mileage rate for business use of a vehicle will increase 1.5 cents from 2023, the IRS said on Thursday.

Expected to occur in early 2024, this is the first leadership reorganization at the tax agency in more than two decades.

Biden’s lawyers argue that all gun and tax charges should be dropped because their client has immunity under a deal he struck in July.

In September, the IRS pressed pause on the ERC program until at least the end of this year due to a wave of fraudulent claims.

Starting next year, employees can contribute up to $3,200 tax-free to a flexible spending account through payroll deduction.

Biden is accused of failing to pay his taxes on time from 2016 to 2019, filing false and fraudulent tax returns in 2018, and tax evasion.

Let’s talk through how these two functions differ, and how you as a tax professional can better define them for your clients to create additional revenue streams.

Jack Lee Oliver of Rivesville, WV, used a foster child he never met to inflate his tax refund, according to the Justice Department.