After issuing a series of taxpayer-friendly rulings, the IRS recently issued guidance limiting the scope of section 1202. Section 1202 is...

The beauty of Combined Federal State Filing is that you don’t have to report the same information twice for your federal and state/local...

There seems to be an abundance of companies offering debt reduction, debt settlement and debt consolidation programs now. Are there any...

Two years ago, I relocated for my company and rented out my primary residence. My initial plan was for this to be temporary and to...

is a 'deterrent' to rich Americans, Deputy Treasury Secretary says. The IRS's plan to enhance enforcement could bring in as much as $400...

The tax treatment of lawsuit settlements often depends on the wording of the settlement agreement. For example, in Blum v. Commissioner,...

The Senate narrowly averted fiscal calamity Thursday evening in a late-evening vote to raise the federal borrowing limit, but the...

Most legal settlements are taxed, but there is often flexibility and the wording matters. Even legal malpractice settlements are usually...

“Simple” was never the right word to describe last year’s temporary payroll tax deferral, which was implemented almost exclusively for...

Does the IRS like to impose penalties? You should, as IRS penalties have a way of infiltrating many tax notices, even for innocent...

As the country emerges from the maelstrom of a historic pandemic, Americans are turning a critical eye towards the status quo. Some argue...

There was an article that circulated recently suggesting that bankruptcies didn’t peak as expected. If the folks who are reaching out to...

The Internal Revenue Service (IRS) has announced some changes to its collections processes to assist taxpayers who have been impacted by...

I lost my job due to the pandemic and cannot pay my federal taxes. What can I do? First, if you have not already done so, file your 2019...

We have compiled helpful answers into two groups for you: Quick Q&As with brief answers. Questions that require more detailed answers, of...

Most people who file taxes wind up getting money back from the IRS in the form of a refund. But what if you're in the minority of people...

While the Paycheck Protection Program (PPP) garners most of the attention for small business relief, the Coronavirus Aid, Relief, and...

If you're avoiding filing your taxes because you can't afford to pay what you owe, there is good reason to file anyway. Imagine what your...

Early in the pandemic, the IRS threw the American people a life preserver when they suspended all liens, levies and seizures in an effort...

"Because (the refund approval) occurred after some people filed their taxes, the IRS will take steps in the spring and summer to make the...