The IRS’s response to the COVID-19 pandemic has included focused relief from tax penalties, but taxpayers and tax professionals should...

Many taxpayers rent out their first or second homes without considering tax consequences. Some of these rules can be beneficial, while...

If you are a small business owner, every penny of your income counts. This means that you not only want to optimize your revenue, but...

Previously we shared that the IRS will disallow deductible expenses for businesses with PPP loans and to write your congressional...

With the debate between Congress and IRS continuing, this an opportune time for small business owners to try to influence congressional...

In response to the IRS ruling on the deductibility of forgiven PPP loans, Congress recently made a joint statement saying the Treasury is...

In guidance issued on Wednesday, November 18, IRS reiterated its position that taxpayers cannot claim a deduction for any otherwise...

The IRS recently announced a new program, the Taxpayer Relief Initiative, to help taxpayers who are unable to pay their taxes because of...

An education credit helps with the cost of higher education by reducing the amount of tax owed on your tax return. If the credit reduces...

As part of tax reform put into place a couple of years ago, individuals are able to defer both short- and long-term capital gains into...

We’ve all been there. Life is super busy. We have to take care of our families and friends, work obligations, and all our other...

As the end of the tax year approaches, it is worth spending a few minutes reviewing some of the changes that have been made in the tax...

2020 has given rise to more than the usual tax-planning opportunities.

In many cases, workers are receiving unemployment benefits for the first time in their lives...

If you have lost your job, there are a number of tax issues you may encounter.