Having a large debt balance is never good but it can be incredibly nerve-wracking when your creditor is the Internal Revenue Service (IRS). Luckily, you may be able to reach a tax debt settlement with the IRS, depending on your personal situation.
A New York businesswoman is facing federal prison time after being convicted of obstructing the IRS and filing false tax returns.
Long Island resident Lorraine Pilitz, age 64, of Merrick, was found guilty on all five counts against her by a federal jury in Central Islip Wednesday, Nov. 9, following a
Winning the massive $2.04 billion Powerball jackpot would be life-changing, but many people wonder just how much of the pot will be eaten up by taxes. That can vary a lot, depending on what state the winner lives in and how they are paid. The winner can pick a cash
The IRS treats commissions as supplemental income, or income you receive in addition to your regular wages. Supplemental income can also include bonuses, overtime pay, back pay and severance pay.
The Internal Revenue Service announced that it has updated the crypto section in the 2022 draft instructions for tax form 1040. “For example, digital assets include non-fungible tokens (NFTs) and virtual currencies, such as cryptocurrencies and stablecoins,” the tax agency detailed.
The Internal Revenue Service announced a record increase in allowable contributions to 401(k) and other tax-deferred retirement plans.
Starting in 2023, you will be allowed to contribute up to $22,500 into your 401(k), 403 (b) and most 457 plans or Thrift Savings plans.
The IRS updated income tax brackets for 2023. Below is a comparison between 2022 and 2023.
Package could revive business breaks and monthly child credit. Congressional negotiators begin talks for year-end tax deal.
The US Court of Appeals for the Sixth Circuit recently ruled, in Hall v. Meisner, that the government cannot seize $300,000 in home equity to pay off a $22,000 property tax delinquency. Such “home equity theft” qualifies as a taking and therefore requires payment of “just compensation” under the Takings
