Taxes
IRS Disallows 20,000 ERC Tax Refund Claims As Enforcement Tightens
As part of continuing efforts to combat dubious Employee Retention Credit (ERC) claims, the Internal Revenue Service is sending an initial round of more than…
Your best advisor to finance and money management.
Explaining Finance is your one-stop website for the latest news, updates, and tips about finance.
Latest News
Stone Mining Company’s Donation Deduction For Land Sold To Town Disallowed
Patrick Urda of the United States Tax Court dives into the technicalities of charitable contributions of property in Janet R.…
“VAT In The Digital Age” – Assessing Reform Proposals From The SME Perspective
Small and medium-sized enterprises (SMEs) play a vital role in the European Union (EU) economy, driving innovation, employment, and economic…
Employee Retention Credit: Afraid Of IRS Knocking? — What To Do
I have written recently that taxpayers need to beware of “too-good-to-be-true” pitches for the Employee Retention Credit (ERC) and that…
Moore Money, More Tax Problems? Analyzing Moore V. United States
Professor Hank Adler of Chapman University discusses the income realization requirement dispute in the transition tax case Moore v. United…
Tax Refund And Return Processing Times Shorten As IRS Works Through Backlog
The IRS continues to make progress on its inventory of tax returns, payments, refunds, and correspondence. However, some sectors are…
Why QLACs May Be a Very Bad Bet
The risk of inflation is important when swapping real for nominal dollars. Rather than ending the fear of outliving your…
Joe Manchin: Mad About Taxes, Maybe Running For President, Definitely On Brand
Sen. Joe Manchin III, D-W.Va., is thinking about running for president — or at least people think he’s thinking about…
Money, Equity And Taxes Make News Early At The 2023 Women’s World Cup
On July 20, teams representing 32 countries kicked off FIFA Women's World Cup play in Australia and New Zealand. Teams…
No Authority For How To Compute Housing Investment Exit Taxes
On June 30, 2023 Judge Peter B. Krupp if the Suffolk County Superior Court in Massachusetts issued a decision that…
New York Business Stifled Due To Federal Research Capitalization Rules
Whether it is manufacturers, clothing designers, software developers, plant breeders, winemakers, or engineers, businesses across New York State are shocked…
No Labels Talks About Taxpayers
No Labels, the independent political organization making noises about a third-party presidential campaign, has released a policy manifesto. Intended to…
Ticket Wins $1.08B Powerball Jackpot Of $558.1M Cash $351.6M After Tax
Powerball reports that a single lottery ticket purchased in California has won the $1.08 billion Powerball jackpot by matching all…
Taxpayers Are Liable For Taxes On $1.2 Million—Even If Their Daughter Stole It
In the tax world, we often say that rules matter. A Florida couple found this out in a most unfortunate…
Beneficiaries Of Inherited IRAs Get More RMD Relief — For Now
A few years ago, if you inherited an IRA from a parent, the distribution rules were simple: you could stretch…
Insider-Trading Horror Stories: The Covid-19 Files
The tentacles of the Covid-19 pandemic left no corner of American life untouched. Now they have even entered the annals…
Understanding The IRS Whistleblower Program
The Recent Supreme Court Ruling Regarding Whistleblowers On June 16, 2023, the U.S. Supreme Court ruled in United States, ex…
The Evolution Of International Corporate Taxation
Marna Ricker, EY’s global vice chair of tax, discusses how international tax advisers and corporate tax clients have handled recent…
States Get Creative In Efforts To Fund Schools While Not Raising Taxes
School funding is back in the news as states struggle to reverse trends suggesting that students are performing at lower…