This article was published by the IRS. A lot of families move during the summer. Taxpayers who are selling their home may qualify to exclude all or part of any gain from the sale from their income when filing their tax return. Here are some things that homeowners should think about when selling a home: Ownership [...]
This article was published by the IRS. The Internal Revenue Service is reminding teachers and other educators planning ahead that they'll be able to deduct up to $300 of out-of-pocket classroom expenses when they file their federal income tax return next year. This is the first time the annual limit has increased since the special educator [...]
The IRS Independent Office of Appeals is a separate organization within the IRS. Did you know that you have the right to dispute most IRS decisions like penalties, liens, or increases in how much you owe? In most cases, you can request an appeal if you disagree with an IRS decision. The Appeals office will hear [...]
This article was published by the IRS. Reminder that businesses can temporarily deduct 100% beginning January 1, 2021 This is a reminder that the Treasury Department and the Internal Revenue Service have issued Notice 2021-25 providing guidance under the Taxpayer Certainty and Disaster Relief Act of 2020. The Act added a temporary exception to the 50% [...]
This article was published by the IRS. The Department of the Treasury and the Internal Revenue Service have received requests from taxpayers and their advisors for relief from penalties arising when additional income tax is owed because the deduction for qualified wages is reduced by the amount of a retroactively claimed employee retention tax credit (ERTC), [...]
