8,621 results found

After holding at $118,500 for 2016 and 2015, the Social Security Administration (SSA) has announced that the maximum amount of earnings subject to Old-Age, Survivors and Disability Insurance (OASDI) Social Security tax will rise to $127,200 in 2017.

The Supreme Court on Jan. 14 heard oral arguments in United States v. Quality Stores (Ct. Dkt. No. 12-1408), which should settle whether supplemental unemployment benefits (SUB) made for involuntary termination are subject to Federal Insurance Contributions Act (FICA) tax.

President Biden signed a $1.9 trillion COVID-19 relief package into law on March 11, 2021. In addition to providing stimulus checks, increased unemployment assistance, funding for vaccine...

Ohio Governor Mike DeWine recently signed the fiscal year 2022-23 budget bill, which contains several tax provisions and changes that will affect businesses and their owners.

The Tax Court ruled that a couple's jointly filed Form 1040 was not a valid return because the agent appointed by the taxpayers to sign the return was not properly authorized.

The Tax Court has recently held in Bobrow v. Commissioner (TC Memo 2014-21) that the one-rollover-per-year rule applies to all of a taxpayer’s individual retirement accounts (IRAs) rather than to each IRA separately.

For years, the Section 6662 accuracy-related penalty has been one of the most frequently litigated federal tax issues in the United States.

The Supreme Court on Oct. 9 heard arguments in a case that could resolve a split in the circuit courts of appeal, of whether courts can apply an accuracy-related penalty for a tax underpayment that is attributable to a valuation misstatement, when the underlying transaction is disregarded for lacking economic substance.

The Tax Cut and Jobs Act made several key changes to the expensing and depreciation rules, which will be a boon for Senior Living businesses that tend to be real estate heavy.

Dentons is covering all of the latest news on the various tax reform plans that the United States Congress is currently considering.

On April 27, 2010, the Internal Revenue Service issued Notice 2010-38 that gives guidance on the income tax treatment of health care benefits provided to children in the year before they attain age 27.

The federal American Rescue Plan Act signed by President Biden in March 2021 provides that up to $10,200 of state unemployment benefits received by individuals during 2020 ...

The IRS has increased its practice to issue Notices of Deficiency without an audit. For example, if there is a mismatch between what was reported on a Form 1099 for a taxpayer and the income...

Section 529 plans provide a tax-advantaged way to save for education expenses, but account holders should be mindful of important differences...

Last month, I wrote that certain income taxes can be discharged in bankruptcy if they meet a four-part test, the last test being a subjective test. Well, on January 20, 2026, Judge Bentley of the United States Bankruptcy Court...

The U.S. Treasury has announced its award of $3.5 billion of New Markets Tax Credit allocations to 87 Community Development Entities across the country.

The Treasury Department formally declined a request from a group of Senate Democrats to change the tax rules governing how employees value personal use of employer-provided aircraft, preserving the Standard Industry Fare Level (SIFL) valuation method.