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…
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Supreme Court Rules That IRS Can Request Bank Account Info Without Notice To Third Parties
The IRS does not need to notify third parties when requesting a summons for banking records in collection matters. That…
IRS Announces Cost-Of-Living Adjustments For HSAs, HDHPs, And HRAs
The IRS has announced more cost-of-living adjustments—these focus on changes affecting health savings accounts (HSAs), high-deductible health plans (HDHPs), and…
Tax Pledge Zombies Roam Capitol Hill
You’ve probably heard about the Limit, Save, Grow Act of 2023 (LSG, H.R. 2811), which narrowly passed the House of…
AI-Generated Tax Scams Can Look A Lot Like They Came From The IRS
Earlier this month, a group of Senators sent a letter to IRS Commissioner Danny Werfel about the use of AI—artificial…
Revolutionizing Charitable Planning With ChatGPT: A Guide For Donors
Charitable giving has long been essential to creating a better world by enabling donors to support causes by giving to…
Clarence Thomas’s Luxury Travel And The Gift Tax
Professors Bridget Crawford and Victoria Haneman discuss the estate and gift tax and how it could apply to the gifts…
Alternative Tax Thinker Trying The Puerto Rico Gambit
The conventional term for someone like Brian Swanson is tax protester, which Wikipedia defines as someone who refuses to pay…
Work From Home And Other Benefits May Be At Risk After Covid Emergency Declaration Ends
The emergency declaration for Covid-19 expired on May 11, 2023—and it comes with some tax consequences. A lot changed during…
IRS Taxes Apply If Your Debt Is Cancelled, Here Are Exceptions
Most people know that if they receive cash, it is probably taxable unless it is an honest to goodness gift.…
How The Tax Code Can Help You Pay For Your MBA And Your Kid’s College Education
When it comes to education, most financial planning is centered around ways to save and invest for college. This makes…
Are “Free” Online Services VAT Free?
The advertising-supported digital business model is a common strategy used by many companies. The core principle of this model is…
Social Security Administration Announces Most Popular Baby Names Of 2022
Once again, the most popular names for babies born in the United States are Liam and Olivia—Liam has topped the…
Finding A Budget Compromise Despite Republican Extremism
Republicans have refused to raise or suspend the debt limit – which multiple independent forecasters have warned could cause the…
Snakes On A Tax Return—Why You Can’t Deduct Damage From A Snake-Infested House On Your Tax Return
Earlier today, my husband asked me if I had heard about the woman who bought a house... "Stop right there,"…
Crypto Investors Scratching Their Heads Over Biden’s $18 Billion Tax Threat Should Look At Wash Sales
Crypto taxes are back in the news. On Tuesday, President Joe Biden tweeted out an infographic that suggested that Congress…
Hiring New Accountants: The Challenge For The CPA Community And The IRS
Our nation is facing a significant shortfall in young people entering the workforce as accountants. Setting aside the joy of…
What You Need To Know Now About An Inherited Roth IRA
There is confusion about what happens when you inherit a Roth IRA. The rules surrounding required minimum distributions (RMD) from…
Cities Can’t Just Be “Playgrounds” For The Affluent
As cities continue wrestling with myriad problems, most noticeably empty office buildings due to increased working from home, urbanists Edward…