Taxes
Latest Taxes News
Available Education Tax Credits You Can Claim
For students and their parents, there are two tax credits that can help with the costs of higher education. The…
Gearing Up For The 2025 Energy Tax Debate
The guidance implementing the energy tax credits in the Inflation Reduction Act is not yet complete, but it’s already time…
What Is the Tax Underpayment Penalty and How Can It Be Avoided?
Understanding tax payments and the potential repercussions of underpayment is crucial. The tax underpayment penalty is one such charge that…
Federal Court Grants Summary Judgment Motion On Willful FBAR Penalty
Litigation in federal court is analogous to a game of chess. Although each side has a limited number of moves,…
When and How to Report a 1031 Exchange on Your Tax Return
A 1031 exchange allows certain real estate investors to defer capital gains taxes when selling one investment property and reinvesting…
Government Files Notice Of Appeal After Corporate Transparency Act Deemed Unconstitutional
(Author’s Note: Edited to reflect Statement from the Treasury.) You knew it was coming: the U.S. Department of Justice and…
I’m Selling My House to Downsize for Retirement, and I’ll Net $620k. Do I Have to Pay Capital Gains Taxes?
When you sell your primary home, the IRS allows you to exclude a significant portion of the profit from your…
Navigating The Corporate Transparency Act
Christine Green of Steptoe & Johnson PLLC discusses the Corporate Transparency Act and the recent litigation regarding its constitutionality. This…
How to Avoid Prohibited Transactions With Your Self-Directed IRA
A self-directed IRA is a retirement savings plan that allows you to decide what investments will be made. These accounts…
DOJ Alleges Decades-Long Tax Scheme To Hide Foreign Assets From IRS
On March 11, 2024, the Department of Justice (DOJ) announced that a Florida man had been arrested for an alleged…
