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After receiving a deluge of improper Employee Retention Tax Credit (ERTC) claims, the IRS recently announced an immediate moratorium through at least December 31 on processing new claims for the pandemic relief program. The tax agency stated that...

Private businesses implemented new lease accounting rules in 2022, resulting in a major shift in how leases are reported for “book” purposes. While the tax rules for leases haven’t changed, the new accounting rules can have...

Cryptocurrencies have gone mainstream. You can now invest in them and use them to buy and sell many products and services. However, crypto transactions have important federal tax implications that may not be well understood by everyone...

If you have a tax-favored retirement account, you generally must take required minimum distributions (RMDs) each year after you reach the “magic” age. If you don’t take RMDs, you’ll be hit with an expensive federal tax...

Many people move during the summer. Taxpayers who are selling their home may qualify to exclude all or part of any gain from the sale from their income when filing their tax return. When selling a home, homeowners should think about: Ownership...

Business travelers should check out these deductions before hitting the road Many people travel for their job – some for an occasional conference and some travel year-round. Whatever their time on the road, business travelers should know how and...