Tax

A retired tax practitioner takes issue with proposals to lower rates for pass-through business income.

President Donald Trump and Senate Majority Leader Mitch McConnell appeared to give themselves some breathing room on their goal of completing a tax overhaul before year’s end in remarks that emphasized the difficulty of passing major legislation.

Many accountants have just completed their “second” tax season finalizing the extended returns, and life must go on.

The Internal Revenue Service has needed to significantly cut back a program that automatically followed up with people who failed to file a tax return, due to budget constraints, according to a new report.

The Internal Revenue Service has suspended its $7.25 million contract with Equifax after the company admitted to finding a malware link on its website on the heels of a data breach that exposed the personal information of approximately 146 million people in the U.S.

The Social Security Administration said it would provide a 2.0 percent cost of living adjustment in 2018, the biggest increase since 2012.

Senator Susan Collins says she’s leaning toward supporting a fiscal 2018 Senate budget resolution that’s key to the Republican effort to pass a major tax overhaul without the need for Democratic votes.

Opinions vary wildly as to who does and who doesn’t belong to this heavily courted demographic.

Certain transactions will be subject to new guidelines, and more questions.

The IRs has pushed back a number of deadlines for those affected by the fires.