April 15, 2025: Main deadline for filing federal taxes for the 2024 tax year. Extension Option: October 15, 2025, is the extended deadline for those filing late. Follow IRS Rules: Adherence to IRS guidelines is crucial for accurate filing. State Tax Awareness: Be mindful of your state's...
IRS Releases Suggested Governance Guidelines for Tax-Exempt OrganizationsRalph E. DeJongPeter L. FaberChristopher M. JedreyRobert C. Louthian, IIIMichael W. Peregrine
According to Coin Center executive director Jerry Brito, it’s “unclear how one can comply” with the crypto tax reporting guidelines in 2024. 52014 Newsletter The Pope and US regulators warn about AI risks: Law Decoded Dec 18, 2023
For the 2022 tax year, taxpayers will follow guidelines set forth by the old IRS rule — you should receive a 1099-K form if you earned at least $20,000 or received at least 200 transactions. You won't receive tax forms triggered by the "$600 rule" until next year. ...
The IRS hasannouncedthat the 2025 tax season start date (for 2024 income tax return filing) is Monday, January 27, 2025. In a few recent years, the tax start date was delayed a few weeks into February, with the complexities created by COVID and stimulus checks. This year, the start of...
Since we’re still focused on 2024 for tax filing purposes and will be until the 2024 tax year deadline, the 2024 tax brackets are also going to be of interest to readers when working on your upcoming tax return, so I have included those in this article as well. And, armed with the...
Thecalculation of the minimum paymentis influenced by the IRS’s guidelines and is typically determined based on a percentage of the total tax liability. This percentage can vary depending on the specific circumstances of the taxpayer. Additionally, the IRS may consider the taxpayer’s income, expe...
You can set aside pre-tax income in an HSA for use specifically on health spending, just like with aFlexible Spending Account (FSA). However, HSAs have a key advantage over FSAs. With an FSA, if you do not spend the funds in your account by the end of the year, you forfeit the ...
On August 25, 2023, the US Treasury Department and IRS proposed new regulations for digital assets, set to take effect on January 1, 2025. These regulations aim to bring the tax reporting for digital assets in line with that of traditional financial instruments. Under the new rules, digital ...
The taxpayer must provide more than 50% of the person’s support for the tax year. This support test differs from the one for a qualifying child, which tests whether the child provided more than one-half of their support. When calculating total support, taxpayers should compare their contribut...