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More home sales trigger capital gains tax. Here's how it works and how to avoid it.
The Week via Yahoo Finance· 4 days agoThat's because of the home sale exclusion, which offers a tax break for homeowners who meet certain...
Make the Direct File Tax Program Permanent, Groups Tell IRS
Bloomberg Law· 6 days agoAbout 255 organizations from across the country are asking the IRS to make its Direct File free tax e-filing program ...
Tax Court Denies Roughly $40 Million IRS Innocent Spouse Relief Claim
Forbes· 1 day agoWhen spouses file a joint return, they become jointly and severally liable for the taxes owed for that tax year. Joint and several liability can be harsh ...
Today's the Deadline to File 990 Series Returns: Tax990 Facilitates Streamlined E-filing With...
Morningstar· 6 days agoROCK HILL, SC / ACCESSWIRE / May 15, 2024 / Today is significant for nonprofits and tax-exempt organizations - it's the deadline to e-file</ ...
$1 Billion in Tax Refunds Disappears Today If You Don't Claim It
CNET· 4 days agoAlmost 1 million people are about to lose their tax refunds from 2021 -- including a stimulus check in the form of the 2020 recovery rebate credit -- simply because they didn't ...
Foreign Spouse? Vexing U.S. Tax Issues For The American Half
Forbes· 1 day agoEarlier, I wrote an article examining some of the U.S. gift and estate tax issues that arise when one spouse is not a U.S. citizen. This article discusses other U.S.
You Made a Mistake in Your Taxes. Now What?
The Wall Street Journal· 4 days agoMost taxpayers already have filed their returns for 2023 and probably don’t want to spend another moment thinking about this annual chore. Perhaps...
Weekly IRS Roundup May 6 – May 10, 2024
The National Law Review· 5 days agoRevenue Ruling 2024-09, which provides the May 2024 applicable federal rates. Notice 2024-35, which provides guidance related to certain specified...
Form 5330 E-Filing Requirement Headache | JD Supra
JD Supra· 7 days agoThe Form 5330[1], an excise tax return used by certain employers and individuals to pay penalty taxes, must be filed electronically for taxable years ending on or after December ...
IRS Authority to Assess Certain Foreign Information Return Penalties Restored by D.C. Circuit | JD...
JD Supra· 4 days agoThe U.S. Court of Appeals for the District of Columbia Circuit (D.C. Circuit) on May 3, 2024, reversed the U.S. Tax Court (USTC) in Alon Farhy v. Commissioner, No. 23-1179 ...