IRS
Count LTCI Premiums for Medical Deduction
You can add the cost of premiums to the amount you need to surpass the deduction threshold for medical expenses. But the IRS strictly limits the amount you can write off for LTCI insurance each year.
Supreme Court Grants Trump Delay on Release of Tax Records to Congress
Chief Justice John Roberts paused a long legal battle over House Ways and Means’ access to Trump’s tax records.
Trump Asks U.S. Supreme Court to Block Disclosure of His Tax Returns
Ex-president is trying to stop the IRS from giving the House Ways and Means panel six years' worth of his tax returns.
Tax Gap Continues to Get Worse, IRS Says
An analysis of tax years 2014 through 2016 showed the estimated gross tax gap increased to $496 billion.
AICPA News – Nov. 1, 2022
AICPA News is a round-up of recent announcements from the American Institute of CPAs (AICPA).
April 18 is IRS Tax Deadline for 2023
The deadline for filing federal income tax returns (generally Form 1040), will be Tuesday, April 18, 2023, and most states usually follow the same calendar for state income tax returns.
Douglas O’Donnell Named Acting IRS Chief
An IRS lifer, Douglas O’Donnell most recently was deputy commissioner for services and enforcement.
IRS Gets Jumpstart on Hiring for Next Tax-Filing Season
The IRS has hired 4,000 new customer service reps to answer phones and provide other services, with more on the way.