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Internal Revenue Service Newsletter
  • Updated 1040-SR Tax Form Instructions in 2024 and 2025 Announced by Harbor Financial 25 Apr 2024 17:10 GMT

    Internal Revenue Service (IRS) has recently released the updated instructions for the 1040-SR taxInternal Revenue Service (IRS) has recently released the updated instructions for the 1040-SR tax … hire a tax professional to file their taxes. The IRS has …

  • IRS releases final rules for solar tax credit transferability 25 Apr 2024 19:47 GMT

    The Dept. of Treasury and Internal Revenue Service issued final regulations today describing … corporations as eligible taxpayers and transferee taxpayers. Previously, the IRS issued proposed regulations …

  • Civics Today: Why are taxes important?  25 Apr 2024 17:18 GMT

    … of an economy, revenue drawn from taxes helps provide everyday necessities … time establishing taxation of its own accord, according to the Internal Revenue Service (IRS).  Not … describes taxation as “a fundamental way for countries to generate public revenues

  • What to Know When Filing Business Taxes Late for Your First Time 25 Apr 2024 16:27 GMT

    … , you dreaded your 2023 tax filing with the Internal Revenue Service (IRS). And now, April … consult a tax professional. Estimated tax and deadlines. The IRS expects taxpayers to pay … have to file with the Internal Revenue Service (IRS) for the first time as …

  • FLYFIN LAUNCHES CAMPAIGN TO HELP FREELANCERS MINIMIZE TAX PENALTIES 25 Apr 2024 17:22 GMT

    … educate freelancers about potential IRS penalties. SAN JOSE, … potential IRS penalties. Using the FlyFin app, CPA tax professionals … FlyFin’s CPA tax experts, taxpayers can learn about … navigate complex, often confusing tax issues, such as: Penalties …

  • 9 ways rich real estate owners save big on taxes from putting mansions in trusts to donating rental property income 25 Apr 2024 16:45 GMT

    … . Thanks to Trump-era tax cuts, taxpayers can give or pass down … kids get cash distributions from revenue generated by the trust but … is highly scrutinized by the IRS and comes with a lot … fund these trusts, though the IRS frowns on using jointly-owned …

  • Stanek: The Power of Year-Round Tax & Financial Planning 25 Apr 2024 16:31 GMT

    … estimating tax payments, a practice aimed at meeting IRS … shifts or projected dealership revenue render the established … segregation study. This tax strategy involves frontloading depreciation … plans also offer tax credits. Other Tax Advantaged Accounts – …

  • Treasury finalizes tax credit transferability rule 25 Apr 2024 17:59 GMT

    … complex rules around tax credit transferability, helping … IRS pre-filing registration process. These regulations affect eligible taxpayers … finalized the definition of “taxpayer” eligible for transferring … Internal Revenue Code allow sponsors to monetize tax

  • 'Dangerous': Biden admin slammed for tax rate proposal to avoid helping 'White taxpayers' 25 Apr 2024 16:55 GMT

    … administration proposal to avoid tax rates which “disproportionally benefit … preferential rate, or decreased tax rate. These rates, … "disproportionally benefit White taxpayers who receive the overwhelming … 'terrible' IRS program “How on earth does …

  • Tax Preparer Pleads Guilty to Filing False Returns 25 Apr 2024 17:01 GMT

    …  the preparation of a false tax return.  Harris owned and ran … the tax prep business The MJM Group … of his faulty returns, the IRS lost more than $120,000 … and 2016, resulting in further tax losses totaling more than $60 …

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