Taxes
Latest Taxes News
What to Know About Form 8889 for HSAs
If you’ve made contributions to or taken distributions from a health savings account (HSA), the IRS requires you to report…
IRS Urges Taxpayers To Seek Out Trusted Tax Pros, Not Social Media, For Tax Advice
The IRS has issued a consumer alert after seeing bad advice circulating on social media about several credits, including a…
An Overview Of Common IRS Penalty Defenses For A Late-Filed Form 3520
Corrected, July 18, 2024: This article has been updated to fix a typo in the fifth paragraph and clarify a…
Grounded By IRS: U.S. Passport Denied Or Revoked For Delinquent Taxes
Did you know that your U.S. passport could be denied, revoked, or not renewed if you owe significant back taxes?…
Despite Ruling, Fights Over Maryland’s Digital Advertising Tax Continue In Court
Maryland’s digital advertising tax—codified as the Digital Advertising Gross Revenue Tax Act—is in the news again following a recent ruling…
Discussing The “Optimized” Charitable Lead Annuity Trust (OCLAT)
There are many tax and estate planning transactions for clients to consider nowadays. While most U.S. citizen clients will only…
What Is the 2024 Federal Solar Tax Credit?
The Federal Solar Tax Credit, also known as the Investment Tax Credit (ITC), provides an up to 30% tax credit…
Navigating New IRS Form 1099 Rules And Understanding Reasonable Cause
Corrected, July 19, 2024: This article has been updated to fix a typo in the third paragraph and clarify a…
IRS Finalizes Guidance On Treatment Of Inherited IRAs
The IRS has issued more guidance on the required minimum distribution (RMD) rules—this time in the form of final regulations.…
California Raises Taxes Again By Restricting Net Operating Loss Use
Taxes are annual, but if you are in business, you can generally rely on using a loss in one year…
