A recent American Bar Association (ABA) conference discussed a potential tenant-based renters’ tax credit (RTC), which could be claimed on federal income tax returns if it was enacted into law. It was suggested that...

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With the tax filing season winding down in roughly three weeks, the IRS has a reminder for some taxpayers. Those who are unable to file by the due date, April 15, can avoid...

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The IRS is reminding businesses that if they intend to file 10 or more information returns reporting cash payments over $10,000 in a single transaction, they must file Form 8300 electronically, instead of filing...

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Taxpayers who can’t pay their full federal tax bill may seek an Offer in Compromise (OIC) with the IRS. An OIC allows a taxpayer to settle a debt for less than owed or to...

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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...

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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...

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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...

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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...

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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...

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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...

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