Gambling Losses Not Deductible as Business Expenses
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...
Redetermining foreign taxes in a post-TCJA world
Dec 14, 2023
The U.S. federal income tax system generally subjects U.S. taxpayers to taxation of earnings from all sources, foreign and domestic....
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