Latest Tax and IRS NewsHere’s how high-net-worth investors plan to pass on their assets The great wealth transfer will affect the economy over the next few decades. The U.K. is officially taxing its wealthiest citizens Should I use TurboTax? Death in the familyTicketmaster...
When you see the“Refer to Tax Topic 152“message it means your refund is being processed and the IRS is directing you its generic refund page for more information. There is not much you can do but wait to see if the IRS finds any issues or requires further verification of your identity...
What if I get Tax Topic 151? This means you have a tax offset. Some or all of your refund is being garnished. Read our full guide to this here. One of the best ways we keep track of what's happening with tax refunds during tax season is your comments and feedback. Please drop a...
The same goes for gambling: a topic that isn’t covered in the 2018 annual report. Despite its absence, however, CI does have a Gaming Investigations team that handles gambling-related tax crimes. However, much like with their approach to alcohol, tobacco, narcotics, and terrorism, they will...
31. A medical flexible spending account, or FSA as it’s usually referred to, is workplace benefit that allows you to set aside some pre-tax money from each paycheck. Then... Read more → Posted on Tuesday, December 17, 2024 at 07:13 PM in Finances, Healthcare Medical, IRS, ...
IRS publications don't usually provide specific, line-by-line instructions for filling out tax forms—each form has a separate set of instructions for that purpose—but they do provide answers on nearly every tax topic you're likely to face. Identifying IRS publications Every publication is ...
The dependent definition is fairly simple in many every day cases: it’s a person who relies on another taxpayer for financial support. But, when you’re talking about taxes and a tax dependent, the person must meet specific requirements. We’ll cover the details throughout this post. So,...
Explore recent news and coverage regarding PFICs. Browse through a list of articles about U.S. taxpayers and their foreign investments on Tax Notes!
The IRS usually releases an updated version of the 1040 tax return form each filing year. There are generally a few changes each year, such as adjustments for inflation, clarification on instructions, and implementation of relevant changes to the tax code. ...
Tax Topic 152, which covers general IRS processing, is the default message shown to tax payers around theirrefund processing timelineandpotential delays. No additional steps or actions are needed from the filer at this point. Delayed Refund Processing ...