Taxes

This new requirement follows final regulations amending e-filing rules for information returns, including Forms 8300, released in February.

New IRS guidance marked the second time this year the agency raised the specter of subjecting state refunds to federal income tax.

Is the sale of an NFT subject to tax? Should it be? While lawmakers and tax officials worldwide have at least 91.8 million reasons to ensure tax laws account for sales of NFTs and other new tech, crafting tax policies for NFTs is difficult.

The Innovation Awards are presented to honor new or recently enhanced technologies that benefit tax and accounting professionals and their clients through improved workflow and efficiencies, increased accessibility, enhanced collaboration, greater accuracy, or other means.

More than 4 million student loan borrowers are enrolled in the Biden Administration’s new income-driven repayment plan, including nearly 332,000 borrowers in California.

Compliance Tracker ensures accurate and timely tax filings, reducing risk of non-compliance and penalties by incorporating trusted data compiled and maintained by Bloomberg Tax’s in-house tax analysts.

The accumulated earnings tax must be paid in addition to the regular corporate income tax.  Despite recent threats by Congress to raise the ante, this penalty tax remains at the 20% rate.

Download this 2023 Tax Season Readiness Guide to help you stay informed, save time on planning, and align your team for efficiency.