Section 179 of the U.S. tax code offers businesses a powerful opportunity to reduce their tax liability by allowing them ...

Unauthorized distributions to a corporation’s shareholders did not terminate an entity’s S status since the shareholders did not authorize or create a second class of stock in the entity’s governing ...

After a complicated and delayed launch last year, the Department of Education released the 2024-25 Free Application for ...

Charitable giving, Form 1099-K reporting, SCOTUS agrees to hear a tax-related case, filing deadlines, industry updates, and ...

The Internal Revenue Service (IRS) has announced a significant policy change designed to streamline the process for taxpayers ...

As the nation’s tax season approaches, the Internal Revenue Service is reminding people of simple steps they can take now to ...

The Internal Revenue Service (IRS) recently reminded Americans to take caution against scammers, and shared information on how to report fraud.

Earlier this month, the IRS released Form 15620, a new standardized form for taxpayers seeking to make elections under ...

Tennis Australia is the best-paying sports organisation in the country, according to a salary information contained in a ...

In an increasingly interconnected world, cross-border transitions between Canada and the United States have become more ...

Thankfully, tax credits and tax deductions can reduce your tax bill and ease the frustration of owing too much money to the IRS. Here are some common IRS tax deductions and credits. Whether you ...

A capital loss occurs when you sell a capital asset for less than you bought it. Capital losses can reduce your taxable income. Read on to learn how to put them to use.