by | Jun 3, 2020 | Tax Tips and News
A new audit says the Internal Revenue Service hasn’t been doing enough to collect taxes owed by the wealthiest group of taxpayers. As a consequence, the billions of dollars they owe have gone uncollected. The audit was done by the Treasury Inspector General for...
by | Jun 2, 2020 | Tax Tips and News
The Internal Revenue Service and the Treasury Department have issued proposed regulations to help businesses navigate new carbon capture credits. The proposed regulations provide guidance on two new credits for carbon oxide that is captured using equipment originally...
by | May 30, 2020 | Tax Tips and News
When can I e-file a Form 1040-X? If you would prefer to electronically file the stack of Forms 1040-X sitting on your desk, the Internal Revenue Service has some good news. The IRS will be working with the tax software industry and developers, like Drake Software, to...
by | May 29, 2020 | Tax Tips and News
The Internal Revenue Service has issued rules and guidance covering two disparate tax areas: renewable energy and retirement payments. New rules give relief for taxpayers developing renewable energy projects and producing energy through renewable means. The IRS also...
by | May 28, 2020 | Tax Tips and News
When the Internal Revenue Service moved the 2020 deadline for filing individual income tax returns from April 15 to July 15, it apparently also gave millions of taxpayers a green light to wait until the last minute to file their taxes. CNBC reports that the IRS is...
by | May 23, 2020 | Tax Tips and News
The Treasury Department has issued an additional $41 billion in Economic Impact Payments since May 8, 2020. The Internal Revenue Service announced the latest Economic Impact Payment statistics in a Friday press release. To provide a clear picture of how the $257...
