IRS

The Tesla founder will have a hefty tax bill however he chooses to make good on his pledge.

Much of the data necessary for compliance is unavailable, according to a new report.

The service lifted the limit from $19,500 as part of its annual inflation adjustments.

The Internal Revenue Service provided detailed reporting directions Wednesday for certain passthrough entities and taxpayers reporting partnership interests held in connection with the performance of services, often referred to as “carried interest.”

The move would help offset the benefits from a proposed expansion of the federal deduction of state and local taxes.

The IRS reaches north; no questions asked on the Mars minis; new on the block; and other highlights from our favorite tax bloggers.

The service is sending notices to taxpayers who deferred their Social Security taxes last year, reminding them that half the taxes will be due by the end of this year.

The Internal Revenue Service is giving victims of Hurricane Ida in some parts of Mississippi until Jan. 3, 2022 to file their individual and business tax returns, although the Nov. 1, 2021 deadline still applies to the rest of the state.

Practices’ problems, by firm size; remote tax obligations for services; hammering the basics; and other highlights from our favorite tax bloggers.

The Internal Revenue Service’s Taxpayer Advocate Service helped thousands of taxpayers last year with economic impact payments under the CARES Act, but it took months to start addressing them, often with the wrong cases.