The IRS reports a rise in fraudulent refund claims tied to social media advice. Posts are pushing credits that many taxpayers do not qualify for, such as the Fuel Tax Credit or the Sick and Family Leave Credit. Since 2022, the agency has imposed more...
The IRS has released its inflation adjustments for tax year 2026, covering more than 60 provisions. These changes reflect updates from the One, Big, Beautiful Bill (OBBB) and will apply to returns filed in 2027. Here's what stands out:...
If you work from home, you might be eligible to claim a home office deduction. This can help reduce your taxable income by allowing you to write off certain home expenses related to your business use. Here’s what you need to know to determine if...
Saving for retirement doesn’t have to be overwhelming. One good place to start—or revisit—is with an individual retirement account (IRA). These accounts offer tax benefits that can make saving more manageable over time....
State tax laws are evolving rapidly, with broadening nexus standards, shifting apportionment rules, aggressive enforcement tactics, and growing divergence from federal standards. As a result, companies operating across multiple U.S. states face an increasingly complex state tax compliance landscape. What was once a manageable state filing...
Under IRS rules, educational assistance programs can be used by employers to help with employees’ student loans and other qualified education expenses, without adding to their taxable income....
Ordinary and necessary travel expenses are deductible when you travel away from home on business. You are considered to be traveling away from home if:...
While National Preparedness Month officially wrapped in September, the reminders from the IRS still stand strong this October. With hurricane season still active, winter storms on the way, and wildfire risks lingering, it's a good time to double-check that your emergency plan is ready to...
In March 2023, the IRS issued Revenue Ruling 2023-2, which introduced a significant alteration in the way assets in irrevocable trusts are handled for tax purposes. According to the new rule, assets placed in an irrevocable trust that are excluded from the grantor's taxable estate...
All taxpayers are protected by the Taxpayer Bill of Rights, which includes the right to finality. This means you are entitled to know how long the IRS has to act on certain matters, and when a process is officially closed....
