Taxes

Calling its actions illegal, Attorney General Kris Mayes is asking a federal magistrate to block the IRS from taxing last year’s rebate.

Starting on April 1, the rate for overpayments and underpayments for individuals will be 8% per year, compounded daily.

Audits this spring will look at where inappropriate deductions were made and where personal travel by jet wasn’t logged as income.

IRS Commissioner Daniel Werfel says parents don’t need to wait to file their 2024 tax return while the bill sits in the Senate.

The average tax refund is down more than 20% over last year, according to the latest statistics from the IRS.

Schneider Electric SE to buy tax credits to help fund four Engie North America projects slated to come online in Texas this year.

As more entrepreneurs embrace remote and hybrid work, they are making sure to write off their home office—but know the rules first.

The Tax Blotter is a round-up of recent tax issues and Tax Court rulings.