Special Per Diem Rate for Business Travel Rises
The special per diem rates that a taxpayer uses in substantiating the amount of ordinary and necessary business expenses incurred...
Gambling Losses Not Deductible as Business Expenses
Jan 2, 2024
A married couple could not deduct their gambling losses because evidence, including their prior tax treatment of the activity, indicated...
IRS Allows Car Dealers to Provide EV Tax Rebates Upfront
Dec 28, 2023
The Internal Revenue Service and the Treasury Department released guidance on how buyers of electric vehicles can transfer their tax...
IRS Adjusts Tax Items for Inflation in 2024
Dec 21, 2023
The Internal Revenue Service provided the annual inflation adjustments for tax year 2024, including increases in the standard deduction and...
IRS Announces Annual Inflation Adjustments for Tax Year 2024
Dec 18, 2023
The IRS announced Thursday annual inflation adjustments for over 60 tax provisions in tax year 2024, including increases in the...
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