Taxes
Tax Court Imposes Limit on Capital Losses
Notably, you may use a loss to offset a short-term gain realized earlier in the year that would otherwise be taxed at a high ordinary income tax rate.
100% Bonus Depreciation for Aircraft Purchases About to End
For the last five years, businesses have been able to use bonus depreciation to expense 100 percent of qualified property, including big-ticket purchases like business aircraft.
Tax Court Decides “He Said, She Said” Case
Generally, the IRS has three years from the later of the time your tax return was filed or its due date to review the return and assess tax.
Trump Accountant Testifies on Taxes: Shocked by Christmas Bonuses
Accountant: "I probably would’ve had a heart attack,” Bender said on cross-examination.
Warren, Shaheen Urge IRS to Probe TurboTax
Senators claim TurboTax has sent refunds to bank accounts opened without the permission of taxpayers.
Reality TV Star Todd Chrisley Sentenced to 12 Years in Prison for Fraud and Tax Evasion, Wife Gets 7 Years
The Chrisleys were convicted in June of a $30 million loan scheme in which they defrauded community banks by providing false documents
Trump Org CFO Allen Weisselberg Got a Raise After Fraud Discovered
He testified that Trump’s sons gave him a $200,000 bump after they learned the family business was dodging the tax man.
Zelle Users Are Circumventing an IRS Tax Rule to Their Advantage
Zelle says the new IRS 1099-K reporting rules for third-party payment processors do not apply to them.