Tax deductions

The Golden State is poised to restore corporate tax breaks and extend its workaround for the federal cap on deductions for state and local taxes.

The service is working on text bots and chat bots to improve access, and managing issues around the ACTC and EIPs.

Things are going to get difficult, and practitioners shouldn’t expect help from the IRS, experts warn.

A Tax Court case illustrates the complexity of deciding when, exactly, a business becomes a good concern in the eyes of the IRS.

Several House Democrats promise to sink President Biden’s economic agenda if doesn't include an expansion of the federal deduction for state and local taxes.

Democrats risk losing their edge in key suburban districts amid a stalemate that threatens plans to expand a tax break for well-off homeowners.

Handicapping which tax credits and other provisions will stay in the Build Back Better package.

Advocates say they'll continue pushing for the write-off, but it is not widely popular.

For business use and medical purposes, they’re up by at least 2 cents.

A host of provisions will expire at the end of the year, and there's no telling whether they'll be renewed, says Wolters Kluwer's Mark Luscombe.