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
Welcome To The Year Of The E-Bike
With a boost from a growing number of cities and states, the souped up two-wheelers are increasingly displacing cars for…
Supreme Court Turns Down Tax Delinquency Takings Case
The Supreme Court will not hear a Michigan foreclosure case related to a tax delinquency. On Oct. 2, 2023, the…
IRS Key Updates: ERC, EITC, And Government Shutdown Plans
Robert Kerr, formerly with the IRS and now with Kerr Consulting, discusses latest developments from the IRS, including the tax…
Don’t Cry For Argentina
Some encouraging news for economic freedom and sanity is coming from, of all places, Argentina. That country has long been…
Guilty Pleas In Multimillion-Dollar Paycheck Protection Program Fraud Conspiracy
Five Texas men have pleaded guilty in a scheme to fraudulently obtain and launder millions of dollars in forgivable Paycheck…
Additional IRS Guidance Surrounding 174 R&E Capitalization Requirements
The Internal Revenue Service (“IRS”) released Notice 2023-63 on Friday, September 8th, providing guidance surrounding the requirement to capitalize Section…
What’s Going On With Digital Link Taxes?
Who killed local and print journalism? The industry will tell you that Google and Meta are at fault because of…
IRS Announces Game-Changer Group To Catch The 1%
The Internal Revenue Service recently announced a major policy shift that could have a huge impact on the wealthiest individuals…
IRS Continues To Expand Online Services Available To Tax Professionals
The IRS is continuing to expand online services available to tax professionals who use ta Tax Pro Account. A Tax…
Congress Votes To Avoid A Government Shutdown—For Now
There is no government shutdown—for now. On Sept. 30, 2023, with a few hours to go before midnight, the House…
IRS Leaker Of IRS Tax Data To The Press Is Charged With Tax Crimes
An Internal Revenue Service consultant has been charged with disclosing a cache of tax return information without authorization. You can…
Taxpayer Advocate Warns Office Won’t Be Able To Help Taxpayers During A Shutdown
With a government shutdown on the way, federal agencies are taking steps to get ready—including the IRS. The IRS released…
Countdown To Chaos: What A Government Shutdown Means For The IRS
With only days to go until a potential government shutdown, the Internal Revenue Service (IRS) has announced that it would…
Tax Governance- Becoming A Large Business in the UK – UK Tax Strategy Requirements
This article focuses on another tax governance obligation for large businesses in the UK; the requirement to publish their tax…
As Government Shutdown Appears More Likely, Treasury Releases IRS Contingency Plan
It looks as if a government shutdown is imminent—and federal agencies are taking steps to get ready, including the IRS.…
New IRS Chatbots Use AI In Aim To Assist Taxpayers—And They Actually Work
The IRS has announced the availability of expanded chatbot technology on the official IRS website to help answer basic questions…
Earlier Government Shutdowns Offer A Glimpse Of What Taxpayers Might Expect From IRS, Other Agencies
Remember that huge IRS backlog? It's easy to think back and assume that the problems began with the pandemic, but…
Tax Planning For Traders
Recent tax acts don’t change trader tax status (TTS), Section 475 MTM accounting, wash-sale losses on securities, or the tax…