Taxes

What if the IRS was more digitized? Well, they’re trying to do just that.

Sens. Sherrod Brown and Bill Cassidy want to raise from $600 to $10,000 the sales threshold that would trigger 1099-K forms.

The agency said on Tuesday it is taking steps to test out an IRS-run e-filing system called “Direct File” starting next year.

A debt default would almost certainly mean severe disruption for the economy, with the ripple effects taking their toll on the housing market.

Expect to see a bigger push for digital automation. This is not a new phenomenon — but rather one that will be recognized for the true advantage it brings. 

The new inflation-adjusted amounts mean employees will be able to put more money in their HSAs next year than this year.

When it comes to managing excise tax compliance, many energy and fuel businesses are burning the midnight oil to keep up. 

Deena Vang Lee, a former IRS employee in Fresno, CA, and private tax preparer, received four years and six months in prison.