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The U.S. Tax Court ruled that a solar equipment manufacturer is required to use the accrual method of accounting. The court ruled that...

A married couple was unable to show that an IRS levy was invalid. The U.S. tax code allows the IRS to collect taxes by levy upon property...

The IRS has provided the domestic asset/liability percentages and domestic investment yields needed by foreign insurance companies to...

If an individual files a “frivolous” tax return, the IRS can assess a $5,000 penalty. In one case, a taxpayer submitted a frivolous tax...

Be prepared for a disaster. With Hurricane Dorian approaching the East Coast of the United States, it’s a good time to make sure to...

Are you starting a new business? That can be both rewarding and overwhelming. The IRS has issued some tax tips to help you get off to a...

An IRS software project to safeguard data is making mixed progress, said a recent Treasury Inspector General for Tax Administration...

Many small U.S. businesses elect to organize as S corporations for tax purposes. Owners of qualified businesses must first submit a...

Another court case shows how important it is to properly document qualification for real estate activity loss deductions. Generally, a...

The IRS has updated its lists of countries with nonresident alien interest reporting requirements. The two lists are of countries with...

The IRS has published the latest data regarding individual income tax returns filed through July 25, 2019, for the 2018 tax year. The...

The 9th U.S. Circuit Court of Appeals has affirmed a U.S. Tax Court decision holding that a husband and wife couldn’t challenge their...

Attention employers! You may be able to reduce the tax you owe with a valuable credit. It’s called the employer credit for family and...

The IRS wants to make taxpayers aware of its private debt collection agency (PCA) program. Certain outstanding tax debts may be sent to a...

The IRS announced it has detected a new phishing scam involving unsolicited emails from IRS imposters. Subject lines on the phony emails...

Proposed IRS regulations are out on personal use of employer-provided vehicles. If an employer provides an employee with a vehicle for...

The IRS is providing temporary relief for some delinquent taxpayers who were going to lose their passports. Earlier in August, the IRS...

The Congressional Budget Office (CBO) recently published a report titled “The Distribution of Household Income, 2016.” According to the...

The U.S. Tax Court has ruled that a street vendor wasn’t entitled to an earned income tax credit (EITC) because she couldn’t prove that...

Taxpayers who have certain foreign financial accounts must report them on their tax returns. They may also have to file a “Report of...