See what’s happening around the world of tax!
World NEWS – The Supreme Court rules that the IRS does not need to give notice to third parties when requesting bank records…
U.S. NEWS – The IRS is developing a free electronic tax filing system that could replace commercial options
STATE NEWS – Texas legislators advance a bill that would change property tax limits…
TAX PLANNING – In 2023, the IRS flagged over 1 million tax returns as potentially fraudulent.
Around The Tax World- May 25, 2023 Read More »
World NEWS – A group of U.S. Senators push the IRS to take action against AI-generated tax scams…
U.S. NEWS – New York and California tax revenue took a hit during COVID-19 as high-income earners moved to low-tax states
STATE NEWS – The Minnesota Senate passed a $4 billion tax bill…
TAX PLANNING – The deadline is approaching for the 1.5 million taxpayers with an unclaimed 2019 tax refund to file their return.
Around The Tax World- May 9, 2023 Read More »
World NEWS – President Joe Biden proposes increased taxes on the wealthy to fund Medicare…
U.S. NEWS – The Biden administration released new rules limiting which electric vehicles are eligible for tax credits
STATE NEWS -Massachusetts advances a $1.1 billion tax package…
TAX PLANNING – Early filers may need to file an amended tax return if they reported certain 2022 state refunds as taxable income.
Around The Tax World- April 20, 2023 Read More »
World NEWS – The IRS has extended this year’s tax deadline for state disaster areas…
U.S. NEWS – The IRS releases its list of 2023 “Dirty Dozen” tax scams
STATE NEWS – Chicago’s recently-elected mayor proposed $800 million in new taxes…
TAX PLANNING – Social Security benefits may be taxed due to the 2022 cost-of-living adjustment.
Around The Tax World- April 10, 2023 Read More »
World NEWS – Tesla’s lowest-price vehicle may soon lose eligibility for the EV tax credit…
U.S. NEWS – The U.S. Treasury is set to publish updated guidance for the EV tax credit before the end of March
STATE NEWS – Texas advances a new $16.5 billion proposal that includes property tax cuts…
TAX PLANNING – Student loan borrowers may see fewer deductions in the 2023 tax season.
Around The Tax World- March 28, 2023 Read More »
World NEWS – Tax experts step up to refute social media claims that income taxes are not legally required…
U.S. NEWS – The federal government is opting not to tax one-time state-level payments to residents
STATE NEWS -The Michigan Senate eliminates a plan to remit $180 checks to residents…
TAX PLANNING – Taxpayers looking to boost this year’s tax refund could benefit from claiming a dependent—if they are eligible.
Around The Tax World- March 7, 2023 Read More »
World NEWS – Oakland-area small business owners rally in support of the suspended police chief…
U.S. NEWS – Amazon’s average cut of small business sales surpasses 50%
STATE NEWS – Iowa small business owners join the Small Business Voices to petition Congress…
TAX PLANNING – Intuit purchases $1 million in goods from local small businesses to be donated to nonprofits
Around The Tax World- February 21, 2023 Read More »
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