Your adjusted gross income (AGI) is an important number come tax time, especially if you're planning to e-file. Not only does it impact the tax breaks you’re eligible for—your AGI is now also a kind of identification.
The IRS partners with eight different companies to provide itsFree File Program, which offers tax software to Americans whoseadjusted gross income, or AGI, is $79,000 or less. Among those listed are TaxAct and TaxSlayer. Both are on our list of thebest tax software for 2024. There are so...
aA new revenue procedure allows a taxpayer to defer recognizing in gross income advance payments received from the sale of gift cards that are redeemable for goods or services of the taxpayer or a third party. This reverses IRS\'s earlier position that deferral was appropriate only where the ...
Tax Court subjected a six-year statute of limitations under Section 6501 (e)(1) to the partner taxpayers of Highwood Partners due to omission of gross income. It explores the process of the gross income omission by inappropriate profiting of their foreign exchange digital transactions (FXDOTs) ...
awhere Sales (WC01001) are defined as gross sales and other operating revenue less discounts returns and allowances. Lagged ROA, computed as operating income after taxes (WC08326) relative to total assets is included to control for firm performance as suggested by Kothari et al. (2005)...