Taxes
Budget Would Revive Monthly Child Tax Credit Payments in 2024
President would restore monthly $300 payments to families with children, but the proposal will likely meet opposition.
IRS Bolsters Digital Scanning Abilities
The IRS has scanned more than 120,000 paper forms 940 since the start of this year as part of its new Digital Intake initiative.
Notable Tax Proposals in Biden’s 2024 Budget
President Biden’s FY 2024 budget—released today—proposes several tax changes aimed at wealthier taxpayers.
FBAR Update: Recent Changes to Reporting Assets Held Outside U.S.
Americans with a financial interest in or signature authority over a foreign financial account are required to file an FBAR if the aggregate value of all foreign accounts is more than $10,000.
Feds Charge 7 with $110 Million Tax Refund ID Theft Scheme
Charged with a conspiracy to claim $111 million in tax refunds using the stolen identities of accountants and taxpayers by filing at least 371 false tax returns.
New Incentives for Qualified Charitable Distributions
The new law enhances the benefits of making “qualified charitable distributions” (QCDs) from a taxpayer's IRAs.
A Last-Minute Way to Increase a Tax Refund or Lower Your Tax Bill
Tax season may be in full swing, but there’s still time to make a smart money move that often goes overlooked by taxpayers.
Here is What Daniel Werfel Said to IRS Employees During His First Day as Commissioner
Werfel was sworn in Monday as the 50th commissioner in the history of the IRS.