Lend someone money at zero interest, and you don't make any profit from the deal. Therefore, you might assume that the loan doesn't have any tax implications for you. In many cases, though, you'd be wrong. The tax code expects you to charge a certain amo
New IRS Rules for Tax-Exempt Bonds Issued in Hospital and Other Non-Profit MergersMitchell Rapaport
"Morning Wire" Tax Season: New IRS Rules | Sunday Extra (Podcast Episode 2023) - Movies, TV, Celebs, and more...
“We will likely have a three-year window of tax rules that are reasonably certain,” said Koepp. “As a result of the mid-term elections, divided government could both reduce market volatility and the likelihood of significant tax legislation.” Changes in 2...
Effective January 1, 2025, the proposed regulations aim to align digital asset tax reporting with traditional financial instruments.
The IRS is expanding its crypto tax reporting requirements. A new draft of Form 1040 says that digital assets will be “treated as a digital asset for federal income tax purposes.” This year’s document explicitly includes non-fungible tokens (NFTs), cryptocurrencies, and stablecoins in the ...
State law partnerships that are treated as partnerships for federal income tax purposes are subject to a similar rule as to who can sign a POA as one LLC with some variations. The general rule is that all partners must sign the POA for tax items not subject to the ...
You meet the safe harbor rules by paying at least 90% of the current year's tax liability or 100% of last year's taxes, whichever is smaller. However, that threshold climbs to 110% if your adjusted gross income from 2023 was $150,000 or higher. You can find adjusted gross income on...
For you to claim them under the qualifying child rules, a tax dependent must meet the above requirements. Dependent rules require the dependent to live with you for more than half of the year. If your child was born or died during the year and lived with you, your home must have been ...
The IRS wants you to file your tax return. That's why it has guides to help you with nearly every tax situation. Find the IRS publication that covers your particular situation.