Tax

The Internal Revenue Service mistakenly sent letters to many taxpayers saying it would be reducing their Economic Impact Payments to pay off the taxes they owed.

The combined average sales tax rate across the country grew to levels not seen in a decade last year, enabling states to collect more tax revenue from online sales.

The Form 7202 helps SE individuals who couldn’t work because of the coronavirus.

Your clients may have heard conflicting advice — they must change their IRA beneficiaries, spend down their IRA as soon as possible, dismantle their trust, or immediately convert their traditional IRA to a Roth IRA, Sophia Duffy writes.

The Internal Revenue Service issued guidance on how educators can deduct out-of-pocket expenses for personal protective equipment to safeguard teachers in the classroom during the pandemic.

Knowing what is required and completing documentation in a timely fashion maximize the company’s opportunity to receive its incentive reward.

The Senate voted 51-50, after Vice President Kamala Harris broke her first tie, to adopt a budget blueprint for President Joe Biden’s $1.9 trillion virus relief package — following nearly 15 hours of wading through amendments from both parties.

Cloud tax tech is imperative this year, with many preparers continuing to work in a remote setting due to the ongoing coronavirus pandemic.

Practitioners share how they're changing the ways they reach out to clients and prospects.

You do the meth; what’s in a name?; snow job; and other highlights of recent tax cases.