Non-US financial accounts are reported on FBAR. Penalties can be severe but it is often more difficult for IRS to enforce ...

On November 7, 2024, the IRS introduced Form 15620, a new standardized form for taxpayers opting to make a Section 83(b) ...

Each year, employees receive a Form W-2 that provides details of the prior year’s earnings, taxes withheld, and other miscellaneous data (such as the taxable cost of group term life insurance, the ...

As a U.S. taxpayer, one of the last things that you want to hear is that the Internal Revenue Service (IRS) has disagreed ...

Qualified fixed assets are eligible for a one-off deduction policy before corporate income tax in China. Here is everything ...

This change in reporting requirements will require third-party payment apps to send the IRS a 1099-K for earnings over $5,000 ...

When a disaster strikes, it’s best to act fast so you can get reimbursements sooner rather than later. Here’s how to get your tax documents back, according to the IRS.

Learn about EV tax credits — who qualifies, income limits and how to claim up to $7,500 for electric vehicles. Find out if ...

The R&D credit is a tax credit that provides a dollar-for-dollar reduction in taxes owed for companies performing research, ...

The Tuition and Fees Deduction was phased out, but two main credits are currently available: the American Opportunity Credit ...

Around 48 million people are beneficiaries of the Child Tax Credit to help with the support of their children, as they are ...

Makros was also ordered to pay $137,672 in restitution to the IRS. Makros owned and operated Budget Tree and Stump Removal ...