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
IRS Offers Updates On The Status Of Tax Returns, Refunds And Notices
With Tax Day in the rearview mirror for some (not including those of us on extension), fingers are crossed that…
IRS Will Again Offer Saturday Hours To Help Taxpayers Out
Tax Day might have passed, but some taxpayers may still have tax questions—it's tax law, after all. To help taxpayers…
Putting The Charity Back In Charitable Hospitals — A Bipartisan Agreement?
The new Chairman of the House Ways and Means Committee Jason Smith (R-MO) recently held a hearing on charitable hospitals.…
If The U.S. Avoids A Debt Ceiling Disaster, You May Want To Thank Main Street, Not Wall Street
If the country avoids breaching the debt limit in the next few months, you may not have Wall Street volatility…
Tax Benefits In The Goldman Settlement
Goldman Sachs has agreed to pay $215 million to settle claims for gender discrimination against nearly 3,000 former employees. While…
Don’t Miss This Valuable California Business Tax Strategy Deadline In 2023
You may think it's crazy that I'm suggesting you pay an optional tax, but once you understand the tax benefits,…
Biden And McCarthy To Discuss Debt Ceiling As Time Runs Short To Reach A Deal
President Joe Biden and House Speaker Kevin McCarthy will meet at the White House on Tuesday, along with Senate Majority…
Taxpayer Scores: Farhy Blocks International Reporting Penalties
Tax Notes reporter Andrew Velarde discusses the penalty dispute in Farhy v. Commissioner and the case’s implications for other penalties…
‘Real Housewives’ Couple Kim Zolciak And Kroy Biermann Divorcing, Owe $1 Million In Unpaid Taxes
Former Real Housewives of Atlanta star Kim Zolciak-Biermann has denied reports of financial difficulties for some time—but it appears that…
Feds Seek To Shut Down Florida Tax Preparers Allegedly Costing Taxpayers Millions
The U.S. Department of Justice has filed a complaint seeking to bar nine Florida tax return preparers and their associated…
Keep An Eye On These Tax Proposals, Despite Congressional Gridlock
Tax legislation might be hard to pass this year in a closely divided Congress, but that doesn’t mean that tax…
Hobby Or Business, Why It Matters To IRS & Your Taxes
Does it matter for your taxes if you spend $500 on your hobby, or if you spend the same amount…
Checks Are On The Way In $141 Million TurboTax Settlement
If you bought TurboTax online filing products between 2016 and 2018, check your email—you might be entitled to a settlement…
Ask Larry: Why Hasn’t My Social Security Retirement Benefit Rate Increased Yet?
Today's Social Security column addresses questions about how continued work might be able to increase retirement benefit rates, how survivor's…
Bank Failures, Devalued Commercial Real Estate, And Working From Home
US banks continue facing severe financial pressures, with First Republic’s failure now being followed by intensified pressure on PacWest, Western…
Tax Court Dismisses Case Filed Late After Time Zone Snafu
Some people thrive on butting right up against deadlines. I am not one of those people. I don't like taking…
White House Proposes 30% Energy Tax To Address Environmental Crypto Mining Costs
If you mine digital assets—like cryptocurrency—your job might soon become a little more expensive. The White House has announced plans…
Debt Limit Crisis Might Go Badly For The IRS
With Armageddon slated to arrive on or about the first of next month, it seems like a good time to…