If you’re owed a tax refund this year, you might want to consider receiving it in U.S. Series I savings bonds. Under an IRS program, you’re allowed to use any amount of your refund...
Is disability income taxable? Generally, income you receive for disability through an employer-paid accident or health insurance plan must be included on your tax return. An exclusion exists if the payments are for personal...
Do your assets include foreign bank and financial accounts? You may need to file an annual Report of Foreign Bank and Financial Accounts (FBAR) by April 15, depending on the details. Those who must...
The SEC has voted 3 to 2 to finalize its climate disclosure rules for public companies. When the SEC released proposed rules two years ago, legal challenges followed and went as far as the...
President Biden has released his proposed budget for the 2025 fiscal year, including numerous tax provisions affecting both businesses and individual taxpayers. Here’s an overview of the major tax proposals included in the budget.
Business...
In a hearing on manufacturing and tax law, U.S. Senate Finance Committee Chair Ron Wyden (D-OR) urged his colleagues in the Senate to pass the Tax Relief for American Families and Workers Act. The...
If an individual can’t pay a tax bill in full by the April 15, 2024, due date, there are ways to ease the burden. The taxpayer may be able to enter into a written...
Do you have a health flexible spending account, health savings account or similar plan through your employer? The IRS is warning about misinformation that could lead to serious mistakes. Non-medical nutrition, wellness and exercise...
When it comes to tax filing, the correct status to claim isn’t always obvious. Suppose the parents of a young child live together but were never married. Both contribute to the cost of...
Third-party settlement services are popular because of how convenient they are to use. These services include payment apps, such as Venmo, and online marketplaces, such as eBay. However, if you cross certain transaction thresholds,...