Broader employee scope: Section 4960 now applies to all employees of applicable tax‑exempt organizations, not just the top five earners. Relief measures sought: AICPA requests transition relief, de ...

Rules and reporting requirements depend on whether the cash is income or a gift, how much money changes hands and if you're ...

AI audits expand: The IRS is deploying AI to target potential tax evasion, aiming to boost compliance despite reduced audit staff. Penalty refunds possible: A court ruling may entitle millions to ...

Section 4960 imposes a 21% excise charge on the portion of remuneration above $1m paid by ATEOs to their “covered employees”.

The Internal Revenue Service has locked in sweeping new rules that require certain workers to make catch-up contributions in their retirement savings, but make the contributions into a Roth ...

Tax season is underway, and this year brings a perfect storm that could leave millions of Americans waiting longer for their refunds. The IRS is facing steep staffing cuts, complex new tax rules and ...

Claiming dependents correctly could help reduce your tax bill. A family with two qualifying children may potentially receive ...

Year's end is fast approaching for preparers and taxpayers alike, making the regulatory clarity from the Internal Revenue Service's November wave of guidance a welcome addition across the profession.

Brand new rules for tax breaks on overtime and tip income are bound to drive taxpayers bonkers when trying to file their 2025 federal income tax returns next year. Expect to face far more work and ...

Hi. Yeah, if you have *** freelance job or *** side hustle where you get paid through Venmo or paypal, we've told you before. The IRS is shaking up the rules for third party payment platforms and they ...

The U.S. Treasury Department and the IRS have released proposed regulations to update the rules for certain tax professionals, including attorneys, certified public accountants (CPAs), and enrolled ...