AICPA recommends 12 digital asset FAQs for IRS to post online
The AICPA recently suggested 12 FAQs that the IRS could post on its website to assist taxpayers and practitioners in responding to the new question about digital assets that appears…
IRS extends tax deadline until Oct. 16 in disaster areas through much of California
The Internal Revenue Service has extended the tax deadline for disaster area taxpayers in most of California, and parts of Alabama and Georgia as well, until Oct. 16.The IRS announced…
Sources of Government Revenue, 2023
February 23, 2023 Daniel Bunn Daniel Bunn, Cecilia Perez Weigel Developed countries raise tax revenue through individual income taxes, corporate income taxes, social insurance taxes, taxes on goods and services,…
How to File a 1099-K on TaxAct
Did you receive a 1099-K tax form this year? If you’ve never seen this form before and are unsure what to do with it, don’t freak out — we can…
Inflation Adjustments, IRS Uploads, And Massachusetts Tax Cuts
IRS inflation adjustments for individual taxes: How does it work? TPC’s Robert McClelland has a new brief explaining why the IRS inflation adjustment was enacted, how it works, and how…
What You’ll Need to File Your Business Taxes Before March 15
Is this your first year filing taxes for your business? Are you ready now? The filing deadline for Partnerships (1065), S-corp (1120-S), and multi-member LLCs is March 15, 2023. If…
Former BoE governor Mark Carney says time is now for mandatory sustainability report
Mark Carney, former governor of the Bank of Canada and Bank of England, and the current U.N. special envoy for climate action and finance, said the time for largely voluntary…
Federal Budget Deficit: Federal Debt & Taxes
The federal government is on track to run a $1.4 trillion deficit in fiscal year 2023, according to new projections from the Congressional Budget Office (CBO). Across the next decade…
How Crypto Losses Can Lower Your Tax Bill
The value of Bitcoin and other cryptocurrencies has undoubtedly seen better days. But there’s a small silver lining — if you sold crypto at a loss in 2022, you might…
A Promise And A Flat Tax (Or Two)
Werfel: Under his watch, the IRS would not increase audits on most tax filers. In a nomination hearing before the Senate Finance Committee yesterday, Daniel Werfel, President Biden’s pick for…
