The National Taxpayer Advocate (NTA) provided an update on November 10, 2022 on the Internal Revenue Service’s return processing backlog. Unfortunately, it appears that the
With most virtual currencies prices down significantly year-to-date, and the collapse of large companies in the industry such as FTX, taxpayers may be wondering how
Form 1099-K is an information return used to report certain payment transactions. Prior to 2022, Form 1099-K reporting was required when a third-party settlement organization
The IRS attempt to curb syndicated conservation easements was dealt a significant blow by the Tax Court in its November 9 decision in Green Valley
Social Security benefits will increase by 8.7% for 2023, the largest increase since 1981. The average recipient will receive an increase of $146 per month
President Biden recently announced federal student loan forgiveness of up to $20,000 for Pell Grant recipients and up to $10,000 for others who qualify. Generally,
Last week, the American College of Trust & Estate Counsel (“ACTEC”) filed an amicus brief in Alexander Bittner v. U.S., a Fifth Circuit case that
With the signing by President Biden of the Inflation Reduction Act into law on Tuesday, the Internal Revenue Service will be allocated $80 billion to
The “Inflation Reduction Act”, if passed by the House and signed by the President, will provide $80 billion of funding to the IRS, with $45.6