Looking to donate or gift noncash assets? Don't do it without understanding the IRS appraisal rules first! Delve into our article to make sure your generosity won't bring unexpected tax...
The IRS is introducing updates for the 2025 filing season to enhance taxpayer security and prevent refund delays. One key change is that e-filed tax returns claiming dependents listed on...
Significant changes to the IRS's 1099-K reporting thresholds are on the horizon, affecting anyone who uses payment apps or online marketplaces. Starting in 2024, more of your transactions could be...
The IRS reminds IRA owners aged 70½ and older that they can make up to $105,000 in tax-free charitable donations through Qualified Charitable Distributions (QCDs) in 2024, an increase from...
(authored by RSM US LLP) The IRS has announced an effort to combat related party basis shifting transactions that lack economic substance....
(authored by RSM US LLP) The IRS is entering a new stage of Employee Retention Credit claim processing. The September 2023 moratorium continues, and claims filed before then are being...
The proposed IRS regulations on Donor-Advised Funds introduce potential shifts in how these funds are managed. With possible retroactive effects and new compliance hurdles on the horizon, the time to...
(authored by RSM US LLP) IRS Grants disaster relief to Texas taxpayers located in certain counties. Affected taxpayers have until Nov. 1, 2024, to file returns and make payments....