Taxes
Highlights of the SECURE Act 2.0 for Businesses
The new SECURE Act 2.0, enacted late last year as part of a spending measure, features several notable provisions affecting individuals saving for retirement.
Manchin Floats Bill to End EV Tax Credits for Unqualified Cars
Treasury missed a Dec. 31 statutory deadline to release proposed rules for the new credits.
Maine Man Gets 33 Months in Prison for Misusing PPP Funds
He admitting using more than $300,000 from two loan programs authorized by Congress during the COVID-19 pandemic for bail on a theft charge in Florida.
IRS to Use ‘Digital Assets’ Instead of ‘Virtual Currency’ on 2022 Forms 1040
A question regarding digital assets must be answered by all taxpayers on their 2022 income tax returns.
Supreme Court Shoots Down Appeal on Use of COVID Aid for Tax Cuts
Several GOP-led states sued after President Biden signed the American Rescue Plan Act into law in 2021.
Arizonans Renting Homes During Super Bowl May Need a Permit and Face a Rental Tax
Short-term rental hosts that don’t already have an Arizona transaction privilege tax (TPT) license will need to obtain one from the Arizona Department of Revenue. A local business license may also be required.
Some States Are Considering Shelving the Grocery Tax
Five of the 13 states where groceries were taxed as of last Jan. 1 passed laws to eliminate or ease the pinch.
Trump Ends NY Tax Return Fight Because GOP ‘Has No Interest’
Latest filing from Trump’s lawyer cited the TRUST Act and the recent change in political circumstances.