Holiday Gifts for Employees: Which Are Tax-Free and Which Are Taxable?
The holidays are a time for gratitude, and when they arrive, many employers are planning to show appreciation by giving gifts to their...
Treasury Appoints SSA Chief Frank Bisignano as IRS CEO to Oversee Operations and Service Improvements！
Ever since Billy Long was removed as IRS Commissioner in August 2025, U.S. Treasury Secretary Scott Bessent has served as Acting IRS...
IRS Grants Temporary Penalty Relief for New 1% Remittance Transfer Tax Starting in 2026！
The IRS is providing penalty relief during the first three quarters of 2026 for banks and money transfer companies (so called “remittance...
IRS Furloughs Nearly Half Its Workforce as Government Shutdown Continues — Oct. 15 Tax Deadline Still Stands！
With the government shutdown now a little over a week old, the IRS announced it has begun furloughing nearly half of its staff. According...
When a Charity Loses Its Tax-Exempt Status: Can You Still Claim a Deduction?
Many Americans donate to charities they wish to support. If donors itemize deductions, they may also enjoy a tax break. But if a...
Tax Court: Emotional Distress Settlement Still Counts as Taxable Income!
For federal tax purposes, proceeds from legal settlements are generally included in taxable income unless specifically excluded by law,...
Senate Finance Committee Considers Updates to Crypto Tax Rules!
Members of the U.S. Senate Finance Committee recently met to discuss ongoing issues with the federal tax treatment of digital assets....
Government Shutdown Could Disrupt IRS Services Ahead of Oct. 15 Filing Deadline！
The IRS’s contingency plan called for it to remain open and fully staffed (funded by Inflation Reduction Act money) for at least the...
Five IRS Mediation Programs That Can Help Settle Tax Disputes Efficiently!
Taxpayers involved in a dispute with the IRS may want to consider using one of the IRS’s alternative dispute resolution (ADR) mediation...
GM and Ford Extend $7,500 EV Tax Credit Through Leasing Workaround
The cutoff date for purchasing or leasing a new electric vehicle (EV) to take advantage of the $7,500 EV tax credit was Sept. 30, 2025....
