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2023 Post-Filing Season Update2022 Tax Year-In-ReviewConsolidated Appropriations Act, 2023Inflation Reduction Act of 2022, Signed Aug. 16
IRS Reminds Taxpayers to Protect Important Financial Documents During Natural Disasters, IR-2023-100
In recognition of National Hurricane Preparedness Week and National Wildfire Awareness month, the IRS reminded taxpayers to have a year round complete emergency preparedness plan to protect personal ...
In recognition of National Hurricane Preparedness Week and National Wildfire Awareness month, the IRS reminded taxpayers to have a year round complete emergency preparedness plan to protect personal ...
IRS Updates Allowable Living Expense Standards for 2023
The IRS has updated the Allowable Living Expense (ALE) Standards, effective April 24, 2023.The ALE standards reduce subjectivity when determining what a taxpayer may claim as basic living ...
The IRS has updated the Allowable Living Expense (ALE) Standards, effective April 24, 2023.The ALE standards reduce subjectivity when determining what a taxpayer may claim as basic living ...
2024 Inflation Adjustments for Health Savings Accounts Released, Rev. Proc. 2023-23
The IRS has released the 2024 inflation-adjusted amounts for health savings accounts under Code Sec. 223. For calendar year 2024, the annual limitation on deductions under Code Sec. 223(b)(2...
The IRS has released the 2024 inflation-adjusted amounts for health savings accounts under Code Sec. 223. For calendar year 2024, the annual limitation on deductions under Code Sec. 223(b)(2...
Taxpayers Urged to Begin Tax Planning Now to Take Advantage of Tax Saving Opportunities, IR-2023-95
The IRS, as part of the National Small Business week initiative, has urged business taxpayers to begin planning now to take advantage of tax-saving opportunities and get ready for repor...
The IRS, as part of the National Small Business week initiative, has urged business taxpayers to begin planning now to take advantage of tax-saving opportunities and get ready for repor...
Energy Efficient Home Improvements Eligible for Tax Credits, IR-2023-97
The IRS has informed taxpayers who make energy improvements to their existing residence including solar, wind, geothermal, fuel cells or battery storage may be eligible for expanded home energy tax...
The IRS has informed taxpayers who make energy improvements to their existing residence including solar, wind, geothermal, fuel cells or battery storage may be eligible for expanded home energy tax...
Bitcoin Characterized as Legal Tender by Certain Foreign Jurisdictions, Notice 2023-34
The IRS has modified Notice 2014-21 to remove Background section information stating that virtual currency does not have legal tender status in any jurisdiction, as the Department of the Treasury a...
The IRS has modified Notice 2014-21 to remove Background section information stating that virtual currency does not have legal tender status in any jurisdiction, as the Department of the Treasury a...
Public Hearings for Proposed Regulations to Be Conducted In-Person, Announcement 2023-16
The IRS and Department of the Treasury announced that public hearings conducted by the Service will no longer conduct public hearings on notices of proposed rulemaking solely by telephone for...
The IRS and Department of the Treasury announced that public hearings conducted by the Service will no longer conduct public hearings on notices of proposed rulemaking solely by telephone for...
DC - Sales tax on additional mandatory charges as a result of initiative 82 discussed
As businesses begin to comply with Initiative 82, which phases out the District of Columbia tipped minimum wage for servers, bartenders, and other tipped workers beginning May 1, 2023, the Office of T...
As businesses begin to comply with Initiative 82, which phases out the District of Columbia tipped minimum wage for servers, bartenders, and other tipped workers beginning May 1, 2023, the Office of T...
MD - Student loan debt relief tax credit changes
Maryland has enacted legislation making changes to the student loan debt relief credit against its personal income tax. For tax years beginning after December 31, 2022, Maryland has increased the amou...
Maryland has enacted legislation making changes to the student loan debt relief credit against its personal income tax. For tax years beginning after December 31, 2022, Maryland has increased the amou...
VA - Fuel tax rates announced for period beginning July 1, 2023
Virginia announced that the fuel tax rates for the period July 1, 2023, through June 30, 2024, are as follows:gasoline—29.8 cents per gallon;diesel fuel—30.8 cents per gallon;blended fuels (gasoli...
Virginia announced that the fuel tax rates for the period July 1, 2023, through June 30, 2024, are as follows:gasoline—29.8 cents per gallon;diesel fuel—30.8 cents per gallon;blended fuels (gasoli...
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