Taxes

According to the new survey, three-quarters of tax departments report experiencing difficulties in recruiting and retaining talented tax professionals.

The annotations show the locations he supposedly visited in connection with either business. For several reasons, the Tax Court didn’t find this evidence credible.

For 2023, a participating employee can contribute up to $22,500 in elective deferrals or up to $30,000 if they are age 50 or over.

To leverage a 1031 exchange, an investor has to ensure the income from a real estate investment property sale is reinvested (or “exchanged”) in like-kind property.

The IRS has determined that in the interest of sound tax administration and other factors, taxpayers in many states will not need to report these payments on their 2022 tax returns.

The IRS is trying to decide whether aid payments to taxpayers in more than a dozen states should be taxable.

Anyone e-filing Form 1040-X can for the first time select direct deposit and enter their banking info for a faster refund.

“Anything that was well documented and under $4,000 our representative approved on the spot,” Southwest Airlines Chief Operating Officer Andrew Watterson told reporters.