IRS PLR: Disregarded Entity Election Extension Granted (IRC §7701)
Taxpayer received an extension of time, under Section 301.7701-3, of 120 days from the date of this letter to file Form 8832 to elect to be treated as a disregarded ...
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Senate Republicans throw a wrench in budget bill by vowing to only support permanent tax cuts
The House Republicans' bill includes at least $4.5 trillion in tax cuts over the next 10 years, but it would only extend the ...
Senate Republicans say they won’t support tax bill that doesn’t make Trump cuts permanent
Senate Majority Leader John Thune (R-S.D.) and other top Republican senators vowed to only vote for a permanent, rather than ...
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Senators urge permanent tax relief in letter to President
Montana Senator Steve Daines, along with Majority Whip John Barrasso of Wyoming and Idaho Senator Mike Crapo, is taking ...
How Fire Victims Can Rebuild Without Tax On Their Insurance Proceeds
Under the tax rules, amounts received for damage to property, including property insurance payments, are treated as sales ...
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IRS could send you a letter through the CTC; there are two main reasons
The Child Tax Credit (CTC) has been a lifeline for many American families, especially during the COVID-19 pandemic.
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Income tax rates for individuals
Your taxable income is your income after various deductions, credits, and exemptions have been applied. There are also various tax credits, deductions and benefits available to you to reduce your ...
Tax Breaks: The IRS Is Still Open For Business Edition
Plus: Trump tariffs, beneficial ownership information (BOI) reporting, Earned Income Tax Credit, student loan interest ...