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Do you own nonfungible tokens (NFTs)? If so, you need to know that the IRS intends to treat certain NFTs as collectibles for tax purposes.
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The IRS has issued the 2023 foreign housing cost exclusions, allowing citizens living abroad to elect to exclude the foreign earned income and housing cost amount from gross income (with limitations).
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The Inflation Reduction Act (IRA) features several renewable energy and efficiency-related tax credits that may benefit homeowners and businesses in 2023.
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The Treasury Department recently released its annual “Green Book,” which explains proposed items in President Biden’s 2024 budget, including proposals involving the employee retention credit (ERC).
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Did you or someone you know turn 72 in 2022? For most of these taxpayers, last day to begin receiving required minimum distribution (RMD) payments from traditional IRAs is approaching.
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President Biden has released his 2024 proposed budget – check out some of the highlights we’re watching as it moves through initial review.
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Supporters of affordable housing are urging the Senate Finance Committee to advance tax policy that addresses the current housing crisis.
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A bipartisan coalition in the U.S. House of Representatives has renewed its push to lift the $10,000 cap on deducting state and local taxes (SALT) from federal tax returns.
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The IRS has issued a proposed revenue procedure that would establish the Service Industry Tip Compliance Agreement (SITCA) program for voluntary tip reporting.
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A proposal is currently moving through the Minnesota legislature which includes a plan to mandate 24-weeks of paid leave. This is one of many provisions included in Governor Walz’s initial budget proposal he released last week.
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