Author: taxsecretsblog

Article Highlights: If You Can’t Pay Automatic Extension in Federally Declared Disaster Areas Family Loans Home Equity Loans and HELOCs Credit Card Short-term Payment Plan IRS Installment Agreement Retirement Funds Filing Extensions Enforced Collections Offer-in-Compromise About 3 out of 4 American taxpayers receive a refund

In a significant move aimed at ensuring tax fairness, the Internal Revenue Service (IRS) has announced its plans to initiate a series of audits focusing on the use of business aircraft. This initiative, fueled by the Inflation Reduction Act's funding, marks a concerted effort to

Article Highlights: Capital Gains Medicare Tax High Wealth Minimum Tax Top Marginal Tax Rate Corporate Tax Rate Corporate Minimum Tax Global Minimum Tax Basis Step-Up Carried Interest Stock Buyback Tax Executive Compensation Private Jets Like-Kind Exchanges Cryptocurrency Losses Cryptocurrency Mining Estate and Gift Taxes Oil

Article Highlights: Charitable Deduction AGI Limitations Donations of Unused Employer Time Off Contributions of Appreciated Assets IRA to Charity Contributions Non-cash Contributions Avoiding Fraudulent Charities There are some unique ways to make charitable contributions that can provide tax advantages to the donor. Before deciding about

Article Highlights: Alabama Federal Court Decision Corporate Transparency Act Purpose Court Ruled Act Overreached Implications Financial Crimes Enforcement Network (FinCEN) FinCEN March 5, 2024, Announcement Status of Reporting Pending Appeals by the Treasury Department In a landmark decision on March 1, 2024, a federal district

Tax season isn’t just about paperwork and deadlines for American taxpayers. It's also an opportunity for businesses to get creative and connect with consumers in meaningful ways. From tax-themed promotions to exclusive events, companies are finding inventive ways to engage customers during this busy time

Article Highlights: Overview Eligible Education Expenses Credit Qualifications American Opportunity Credit Lifetime Learning Credit Qualifications Who Gets the Credit If you think that education credits are just for sending your children to college, think again; the credits are available to you, your spouse (if you

Your federal tax refund status can be checked online. E-file refunds are generally issued within 21 days of filing. Direct deposit provides the quickest refunds. If your 2023 federal tax return has already been filed and you are due a refund, you can check the

In the digital age, online security is among the most critical factors for any business. As more and more people are living their lives online, security has become a priority for those giving up sensitive information – including financial data – via the World Wide

 Article Highlights: Special March 1, 2024, Due Date Qualifying Farmer or Fisher Definition Special Dates for Maine and Massachusetts Disaster Area Extended Due Dates Extensions Farmers and fishers who chose to forgo making 2023 estimated tax payments by January must generally file their 2023 federal