Taxes
AICPA Submits Comments on Virtual Currency Question on Form 1040 and Instructions
The AICPA is requesting that the question can be clarified before the 2022 forms are finalized in order to provide greater certainty to taxpayers and their preparers and to ...
Which Vehicles Qualify for New $7,500 Electric Vehicle Tax Credit?
The Inflation Reduction Act only offers tax credits on electric vehicles assembled in North America.
IRS is Assessing Security for Offices, Staff After Political Attacks
The IRS, which has about 600 facilities nationwide, has become a target of GOP lawmakers in recent weeks.
California to Ban Gas-Powered Cars by 2035
If approved, the regulations are expected to significantly reduce vehicle carbon dioxide emissions, as well as smog-forming nitrogen oxides over the next two decades. It could also lead the way in transforming America’s aging fleet of gasoline-powered automobiles.
IRS Sending Extra Refunds to 1.6 Million Americans in 2022
Many Americans may receive an extra refund this fall from the Internal Revenue Service. Those who were assessed a late penalty on their ...
IRS to Send $1.2 Billion in Penalty Relief Refunds in September 2022
The Internal Revenue Service will be sending out $1.2 billion in refunds in September to millions of American individuals and businesses, the agency has announced.
The Tax Blotter – Aug. 2022
The Tax Blotter is a bite-sized round-up of recent tax issues.
Biden Cancels $10,000 in Student Loan Debt for Borrowers Who Make Less Than $125,000 a Year
The pause on federal student loan payments has also been extended to Dec. 31, the Biden administration said.