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 Gives Taxpayers Impacted By The Terrorist Attacks In Israel More Time To File
The IRS has announced tax relief for individuals and businesses affected by the terrorist attacks in the State of Israel.…
IRS Contractor Pleads Guilty To Stealing And Disclosing Tax Return Information
An IRS contractor, Charles Littlejohn, 38, of Washington, D.C., has pleaded guilty to disclosing tax return information without authorization. Littlejohn…
IRS Announces 2023-2024 Per Diem Rates For Taxpayers Who Travel For Business
The IRS has released its annual update of special per diem rates for taxpayers to use in substantiating business expenses…
IRS Says Tax Gap For 2021 Expected To Be $688 Billion
The good news: Most taxpayers pay what they owe in full and on time. A report released by the IRS…
Why The Appeal In The Medtronic Tax Case Matters
The IRS has appealed the Tax Court's second decision in Medtronic Inc. v. Commissioner, and the Eighth Circuit’s ruling will…
Syndicated Conservation Easements Case Overshadowed By Jury Controversies
Corrected, Oct. 11: An earlier version of this post reported that Juror 26 remained on the jury. This was an…
Ten Defendants Charged In Covid-19 Relief Schemes Totaling Nearly $1 Million
The Department of Justice continues to focus on pandemic-related fraud. This week, a federal grand jury in the Western District…
Race-Based Poll Taxes And 20th-Century Discrimination
Professor Jeremy Bearer-Friend of the George Washington University Law School discusses poll taxes in the 20th century and how they…
U.S. Supreme Court May Blow Up Our Tax Code
Former House Speaker Paul Ryan (R-Ohio) recently warned that a “lot of the tax code would be unconstitutional” if the…
Tax And Other Considerations For Charitable Giving Abroad In Times Of Crisis
As Americans absorb agonizing reports about Hamas' brutal terrorist attacks on Israeli civilians and Israel's bombing of Gaza in retaliation,…
Juror In Criminal Tax Case Sympathizing With The Rich, White And Entitled
The most important recent development in the government's long battle against abusive syndicated conservation easements. what I call the industry…
The Epilogue For OIRA Tax Review
It’s not a bill for a long-dreamed-of boys’ camp on the Plains, but Frank Capra would probably have appreciated the…
Revving Up Your Savings About Transferring Your Clean Energy Credit To Your Dealer
Are you considering purchasing an electric vehicle but concerned about the price tag? Don't let sticker shock get you down…
After Sen. Feinstein’s Death, Family’s Fight Over Assets Likely To Intensify
In her last days, Feinstein’s daughter and step-daughters battled in court over the Senator’s access to assets left by her…
Electric Vehicle Buyers Can Soon Get Rebates At The Dealer
Starting in January, eligible electric vehicle buyers can receive a federal tax credit as an upfront discount at the dealership,…
Donate Art, Take Big Tax Deduction? IRS Issues Stern Warning
The IRS has warned taxpayers to watch for promotions involving exaggerated art donation tax deduction deals that target high-income filers.…
IRS Lowers PTIN Fees As Another Court Battle Brews Over Regulating Tax Preparers
If you’re a paid preparer looking to renew your Preparer Tax Identification Number in 2024, it’s going to cost you...…
8 Fabulous Year-End Tax Planning Moves For The Self-Employed
It may feel like you just filed your 2022 taxes, but now is the time for you to lower your…