Bonus depreciation is also known as the additional first-year depreciation deduction. It is a tax incentive that allows a business to immediately deduct a large percentage of the purchase price of ...

Now that April is behind us, most Americans have already filed their 2024 taxes—or at least filed for an extension. That means the IRS is now reviewing returns and starting to send out refunds.

IRS tax laws affect traders on foreign exchange markets and U.S. companies conducting business in foreign currencies. When you convert cash from one currency to another and back again, there may ...

The Tax Court held that the IRS had not conceded a taxpayer’s liability for self-employment tax on freelance writing and memorabilia sales income by sharing information with the Social Security ...

While scrambling to find paperwork around the house and office is always anxiety inducing, some people have had the small mercy of receiving an extended deadline by the IRS itself. Why? Because they ...

Assistance in filing and tax booklets are available at state Rep. Jim Haddock’s office at 42 Center St., Hughestown. The phone number for that office is 570-655-4883. Brandon Jopling writes ...

Now, the IRS is targeting him in hopes of recouping five figures in back taxes. Saginaw County sent a letter to Stockman on May 27 informing him the IRS had placed a levy on funds the county was ...

A federal tax liability is an amount that’s owed to the government in taxes. It can include income taxes on earnings and capital gains taxes on assets. Both are based on brackets, a percentage ...

Relying upon a Central government order which requires State government to accept OCI registration booklets as identity proof for the services to be rendered to them, the judge directed the ...

The U.S. House passed Republicans' sweeping tax bill early May 22, pushing forward a provision that could temporarily eliminate taxes on tips. While all Democrats and two Republicans voted against ...